Latest Business News
China Accelerates 20 Trade Agreements to Reshape Global Commerce
China is pursuing approximately 20 trade deals with major economic blocs including the European Union, Gulf States, and trans-Pacific partners to insulate its $19 trillion economy from US tariff pressure. Recent agreements include a Canada-China deal slashing electric vehicle tariffs to 6.1% and zero tariffs on imports from 53 African nations
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Canadian Airlines Reduce US Routes Amid Declining Cross-Border Travel
Air Transat will no longer operate flights to the US starting summer 2026, with its last flight crossing the border in early June, down from nine routes in March 2025. WestJet, Canada's second-largest airline, is suspending 16 routes to the US this summer, including major city pairings like Boston-Vancouver and LA-Toronto
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US Tariffs Triple Burden on Midsized Businesses
Research from a major American bank shows tariffs paid by midsized US businesses have tripled over the past year, affecting companies that employ a combined 48 million people. These businesses are absorbing costs through higher consumer prices, reduced workforce hiring, or accepting lower profit margins
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Connor Teskey Named New CEO of Brookfield Asset Management
Connor Teskey has been appointed CEO of alternative-investment giant Brookfield Asset Management, succeeding Bruce Flatt, who remains chair of BAM's board and CEO of Brookfield Corporation. Teskey, who joined Brookfield in 2012, previously served as BAM president and headed Brookfield Renewable Power & Transition
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China Pitches AI Customs Systems and Digital Infrastructure Upgrades
China is promoting AI-powered customs systems to neighboring countries and retooling digital infrastructure to streamline commerce. In Vietnam, China's AI customs pilot at the 'Friendship Port' has reduced wait times by 20%
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European Leaders Pursue Strategic Partnerships with China
German Chancellor Friedrich Merz plans to seek 'strategic partnerships' with China, while British Prime Minister Keir Starmer agreed with Xi Jinping to launch a feasibility study into a trade-in-services agreement. China's Foreign Minister Wang Yi also proposed a free trade agreement with the European Union during November negotiations
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China Promises Development Cooperation to African Nations
China dispatched its top diplomat to Lesotho to pledge development cooperation following Trump's initial 50% tariff on the country. State media announced China would implement zero tariffs on imports from 53 African countries
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Chris Turchansky Appointed CEO of ATB Financial
ATB Financial's board selected Chris Turchansky as the organization's next president and CEO, with him assuming the role on January 1, 2027. Turchansky will lead the Canadian financial institution following a formal board selection process
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Rich Sarkis Becomes Chief Marketing Officer at Altus Group
Altus Group appointed Rich Sarkis as chief marketing officer effective immediately, following his role as president of software and data where he led the Argus Intelligence product launch. Sarkis originally joined Altus through the acquisition of Reonomy
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IMF Warns Trade Fragmentation Could Cut Global GDP by 7-12%
The International Monetary Fund estimates that severe trade fragmentation could reduce global output by up to 7% of GDP, with technological decoupling potentially causing losses in some countries to reach 12%. The warning underscores the interconnected nature of modern economies and the risks of trade policies that increase global fragmentation
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