Bloomberg Business

Trudeau Cuts Tax on Rental Builds, Pushes Grocers on Pricing

Canadian Prime Minister Justin Trudeau pledged to cut the federal sales tax on new rental apartment construction and to demand that grocery store executives restore price stability as part of a suite of measures aimed at making life more affordable.

UAW Prepares Targeted Strike to Maximize Automakers’ Pain

United Auto Workers President Shawn Fain is preparing to hit all three Detroit carmakers with targeted walkouts at strategic locations in several states in a play to both maximize the union’s strike fund and sow chaos at the companies.

China Cuts Bank Reserve Requirements to Aid Fiscal Stimulus

China’s central bank cut the amount of cash lenders must hold in reserve for the second time this year, a move that will help banks support government spending and Beijing’s broader effort to stoke economic growth.

Trucker Yellow Paid Managers Millions Just Before Bankruptcy

Just weeks before closing its doors and dismissing thousands of employees, Yellow Corp. doled out millions of dollars in bonuses to executives so they wouldn’t leave the trucking firm during its chaotic unraveling, court papers show.

UK’s Starmer Vows to End Use of Hotels for Asylum Seekers

UK Labour Party leader Keir Starmer vowed to end the use of costly hotels for migrants and recruit over 1,000 government caseworkers to clear the backlog in asylum claims, as he ramped up efforts to position his opposition party as tough but pragmatic in dealing with immigration.

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