The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Megvii is known for its facial recognition technology and while revenue grew over 350% in 2018, its losses have widened.Technologyread more
Stocks in Asia fell Monday afternoon following an escalation in the U.S.-China trade war late last week.Asia Marketsread more
Rite Aid on Monday named Heyward Donigan as chief executive officer, effective immediately, months after the drugstore chain announced its restructuring plan.
The plan, announced in March, includes a change in leadership and a reduction of 400 corporate positions, and is expected to save about $55 million annually and help the company ease the impact of fierce competition that has hurt sales.
Brick-and-mortar drug retailers have been hit as Americans increasingly rely on online retailers such as Amazon.com to buy over-the-counter treatments and as more customers purchase low-cost generic drugs.
Last week, Walgreens Boots Alliance Inc said it plans to close about 200 stores in the United States as part of its cost management program aimed at mitigating the pressure related to generic drug prices.
Shares of Rite Aid, which sold more than 1,900 stores to Walgreens in 2018, have fallen 49% so far this year. Rite Aid now has 2,466 stores in 18 states.
Donigan, who most recently served as CEO at Sapphire Digital, a website that analyzes health-care plans, will succeed John Standley, who has led the company since 2010.