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Lyft plans to open a new technology hub in downtown Toronto in the second half of next year, making the city its second-largest tech center after San Francisco, the ride-hailing firm said on Thursday.The office will be located in Toronto’s financial district and will host several hundred employees across engineering, product, operations and marketing, as the company expands its presence in Canada.The expansion underscores Lyft’s push to strengthen its international footprint as part of a broader effort to diversify growth beyond its core U.S. market.The company said rides in Canada grew more than 20 per cent in the first half…
An already potent Carolina Panthers rushing attack is getting back a key member.After missing Carolina’s last two games due to a calf injury, running back Chuba Hubbard will return in Week 7. In Hubbard’s absence, running back Rico Dowdle answered the bell for the Panthers – and in rather loud fashion.Dowdle, who said that “the two-headed monster is better than one,” isn’t worried about potentially losing touches to Hubbard.”All that stuff is left up to the coach, and then the only thing we can control is going out there and producing at a high level,” Dowdle said on Wednesday, according…
The move shows the US is widening its national security focus to include Hong Kong firms once seen as neutral[WASHINGTON] The US took steps to block one of Hong Kong’s largest phone companies from accessing domestic telecom networks, citing national security concerns, a move that intensifies the fallout on the city’s tycoon Li Ka-shing’s family from US-China tensions. The Federal Communications Commission (FCC) called on HKT (International) and its subsidiaries, which are controlled by Richard Li’s PCCW, to “explain why the FCC should not commence revocation proceedings against them”. HKT currently has permission to interconnect with US networks, allowing calls…
WASHINGTON :The International Monetary Fund revised up Asia’s economic growth forecast on Thursday, but warned of risks to the outlook from trade policy uncertainty and geopolitical tensions.Economic activity in the Asia-Pacific was holding up better than expected in April, despite the region bearing the brunt of U.S. tariffs, said Krishna Srinivasan, director of the IMF’s Asia Pacific Department.”The region is once again set to contribute the lion’s share of global growth – about 60 per cent, both this year and in 2026,” Srinivasan told a news conference.The IMF expects Asia’s economy to expand 4.5 per cent in 2025, slowing from…
TORONTO — TORONTO (AP) — The leader of Canada’s most populous province called for economic retaliation on the U.S. after auto company Stellantis said it was moving planned production of its Jeep Compass from Canada to the U.S.Ontario Premier Doug Ford blamed U.S. President Donald Trump for the company’s decision this week to shift production of the SUV from Brampton, Ontario, to Illinois as part of plan to invest $13 billion to expand its manufacturing capacity in the United States.The comments come as Canada is negotiating to reduce tariffs. Trump has been urging the Big 3 American automakers to move…
Washington — The Senate is expected to vote Thursday on advancing an individual year-long appropriations bill to fund the Pentagon as GOP leaders pursue an alternative approach to restart some funding as the government shutdown has stretched into a third week.Senate Majority Leader John Thune teed up consideration of the full-year Defense Department appropriations bill earlier this week, and the upper chamber is expected to take a procedural vote on advancing the measure Thursday afternoon.The Senate has been locked in a stalemate in recent weeks, seeing no movement despite holding repeat votes on a short-term funding measure to reopen the…
Semiconductor stocks advanced on Thursday after top contract chipmaker TSMC issued a rosy forecast, fanning optimism about demand for artificial intelligence infrastructure in a week of multi-billion-dollar deals across the sector.The company posted a record quarterly profit and raised its annual revenue expectation, pointing to robust demand from customers including AI chip giant Nvidia and Apple.Earlier this week, major deals were announced in the AI sector. A $40 billion acquisition of data-center operator Aligned by a BlackRock-led group, which followed a pact between OpenAI and Broadcom to build 10 gigawatts of custom chips, enough to power more than 8 million…
[NEW YORK] Wall Street’s main indexes opened higher on Thursday (Oct 16), driven by an upbeat quarterly update from TSMC that added to investor optimism around AI and extended a rally in chip stocks.The Dow Jones Industrial Average rose 35.8 points, or 0.08 per cent, at the open to 46,289.09. The S&P 500 rose 18.0 points, or 0.27 per cent, to 6,689.02, while the Nasdaq Composite rose 94.3 points, or 0.42 per cent, to 22,764.398. REUTERS
Updated 15m ago Senate expected to vote for 10th time on House-passed measure to fund the government The Senate is expected to vote late this morning on the measure passed by the House to fund the government until Nov. 21, after the measure fell short for a ninth time Wednesday afternoon. Republicans have been hoping to pick up new support from Democrats on the measure, but the bill has failed to win any new votes from the minority since before the shutdown began. There are 53 Republicans in the Senate, but because most legislation requires 60 votes to advance in…
A paper by the bank says Asean can benefit from worldwide shifts in near-shoring and investment, though intra-region challenges remain[SINGAPORE] Rapid shifts in global supply chains may make Asean businesses the beneficiary of increasing investment and regionally focused market strategies, UOB has said in a new insights paper. The paper, titled “Gateway to Asean” and published on Thursday (Oct 16), said that within the next three years, 52 per cent of global companies will consider near-shoring or reshoring their business operations, that is, siting these operations nearer their markets.In addition, 45 per cent of businesses targeting investments in Asean countries intend…