Australia risks losing ‘war on nicotine’ in same way as war on drugs as illegal tobacco sales explode
Authorities should take a ‘harm reduction’ approach, removing excise for a period and making vapes more available, experts argue Get our breaking news email, free app or daily news podcast Australia is now waging a “de facto war on nicotine” that is doomed to fail in the same way as previous prohibition-style policies, experts say,…
Cloudy with a chance of showers? Fed’s economic forecast coming today
Scott Horsley The Federal Reserve is expected to hold interest rates steady Wednesday, as policymakers wait to see how President Trump’s tariffs and fighting in the Middle East will affect the U.S. economy. The Fed has been in a holding pattern since December, after cutting rates by a full percentage point last year. Investors who…
Purdue Pharma, Sacklers reach new $7.4 billion opioid settlement
Brian Mann All 50 states as well as the District of Columbia and U.S. territories have approved a $7.4 billion settlement with Purdue Pharma, maker of Oxycontin, over the company’s improper marketing of opioids. The deal was filed with a federal bankruptcy court by Purdue Pharma officials in March after negotiations with state attorneys general…
BYD launches cheapest UK model in bid to overtake Tesla as biggest electric carmaker
Dolphin Surf will start at £18,650 – among the cheapest new vehicles on sale in Britain Business live – latest updates The Chinese manufacturer BYD has launched its cheapest model in the UK, in the latest stage of its efforts to overtake Tesla as the world’s biggest electric carmaker. The Dolphin Surf will start at…
Trump trade deal shows how vital China’s rare-earth metals are to US defense firms
Draft agreement may reassure top US military suppliers after president’s tariffs flip-flopping threatened production The draft trade agreement with China announced by Donald Trump on Wednesday would ease concerns from top US military suppliers about rare-earth metals and magnets that, if cut off permanently, could hobble production of everything from smart bombs to fighter jets…
Trump’s trade war is raising money for the government, but at whose expense?
Scott Horsley President Trump has been promising his tariffs will help make America more prosperous. There’s already evidence that tariffs are helping the government’s bottom line. The federal government collected $68.9 billion in tariffs and excise taxes during the first five months of the year, according to Treasury Department data collected by the Bipartisan Policy…
High-rise, high expectations: is Casablanca’s finance hub a model for African development?
Morocco’s commercial centre has brought investment to the continent – but critics say it masks domestic inequality For centuries, Casablanca was a significant trading hub for merchants from across the breadth of the Atlantic coast, given its geographical position between Africa, the Middle East and Europe. These days, Morocco’s economic capital is merging those historical…
Hawai‘i passes landmark tourist fee to fight climate change
A small fee stands to make a big impact in Hawai‘i. Hawai‘i lawmakers passed a groundbreaking bill that will impose a small tax on visitors in an effort to protect the islands from the growing risks of a warming planet. Funds generated by this “green fee,” as it is being called, will be used to…
In reversal, Trump administration restores classes at the National Fire Academy
Frank Langfitt The Trump administration is restoring in-person training at the National Fire Academy in tiny Emmitsburg, Md., after abruptly pausing it in March. The Federal Emergency Management Agency, which oversees the academy, initially paused on-site classes, saying the government would no longer pay for travel for programs it did not deem “mission critical.” On…