World News

Death toll from Pakistan earthquake rises to 37 – local official

Britain's Gove says: we shall respect Supreme Court ruling

LONDON, Sept 25 (Reuters) – The British government respectfully disagrees with the Supreme Court ruling that Prime Minister Boris Johnson’s suspension of parliament was unlawful but the government will respect it, senior cabinet minister Michael Gove said on Wednesday.

Gove is the minister in charge of preparing Britain for a no-deal Brexit. (Reporting by Estelle Shirbon; writing by Guy Faulconbridge)

Hong Kong's Lam dismisses leaked voice recording

Leader says she never planned to quit after release of recording of her saying she would resign if she had a choice.

    Hong Kong’s leader has dismissed a leaked audio recording of her saying she would resign if she had a choice.

    Carrie Lam says she never planned to quit.

    Her comments were recorded during a private lunch last week and follow three months of anti-government protests.

    Al Jazeera’s Wayne Hay reports from Hong Kong.

    British PM Johnson lands back in London

    LONDON, Sept 25 (Reuters) – British Prime Minister Boris Johnson landed in London on Wednesday, returning early from New York after the Supreme Court ruled his suspension of parliament was unlawful. (Reporting by Kylie MacLellan; writing by Guy Faulconbridge)

    South Korea's Myongshin to build EVs for Chinese brand at ex-GM plant

    SEOUL (Reuters) – South Korean auto parts maker Myongshin, which bought a shuttered General Motors’ factory, has agreed to supply more than 50,000 electric vehicles a year to Chinese venture Future Mobility Corp (FMC).

    A supplier to Tesla Inc, Myongshin signed a deal on Wednesday to manufacture the electric vehicles for FMC’s Byton brand beginning in 2021, the government of Jeonbuk province said in a statement.

    Deutsche Bank CEO warns central banks have no tools left to 'cushion' a 'real economic crisis'

    Central banks "have used their tools to a large extent already" and are running out of options to mitigate the impact of global economic risks, Deutsche Bank's CEO warned on Wednesday.

    The likes of the European Central Bank and U.S. Federal Reserve have no tools left to "cushion" the blow of a "real economic crisis," Christian Sewing said at the Sibos banking conference in London.

    "I'm particularly worried about a series of financial and geopolitical risks, ranging from the situation in Hong Kong to tension in the Middle East," Sewing said, adding that the world is facing an "extraordinary macroeconomic situation that is very hard and difficult to predict, and potentially making this whole thing even more volatile."

    Global central banks including the Fed and the ECB have seen a renewed focus on monetary policy easing, as concerns increase as to the health of the economy and declining inflation.

    The ECB in particular has eased aggressively, lowering its deposit rate by 10 basis points to a record low of -0.5%. This effectively means lenders are charged for holding idle cash.

    "Very few economists believe that cheaper money at this level will have an effect," Sewing said, adding that this view has been echoed by Deutsche Bank's own clients.

    Best Buy targeting another $1 billion of cost savings by 2025

    Best Buy BBY, +0.45% set 2025 financial targets ahead of an investor presentation, including its plan for $1 billion of additional cost reductions and efficiencies. The electronics retailer said it was targeting enterprise revenue of $50 billion in 2025 — compared to 2020 guidance of $43.1 billion to $43.6 billion — and non-GAAP operating income rate of 5%, compared to 2020 guidance of flat to slightly up on fiscal 2019’s 4.6%.

    Humanscale Recalls QuickStand Lite Workstations

    Humanscale Corp. recalled about 24,900 units of QuickStand Lite workstations for concerns of injury hazard. These include about 2,200 units sold in Canada. The recalled workstation’s arm can break and cause the workstation to fall, posing a risk of injury.

    The company has already received 52 reports of the arm breaking, including 12 reports of minor injuries from the arm breaking and falling on consumers.

    The recall involves QuickStand Lite height adjustable workstations for single or double computer monitor screens, with a keyboard platform and an adjustable arm. The workstations, sold in black and white with gray trim, measure about 19.5 inches high and about 25.6 inches wide.

    The company advised consumers to immediately stop using the recalled workstation and contact Humanscale to receive a free repair kit.

    The recalled workstations, manufactured in China and imported by New York-based Humanscale, were sold at furniture stores across the U.S. and online at Humanscale.com, Fellowes.com and on other websites from January 2015 through November 2018 for about $600.

    Earlier in May 2019, Knape & Vogt had recalled about 76,000 units of desktop sit-stand office workstations, due to an injury hazard as the workstation can malfunction, causing the gas cylinders to separate and forcefully discharge. They had two handles and two hydraulic gas pressure cylinders which enable the workstation to be raised or lowered.

    Death toll from Pakistan earthquake rises to 37 – local official

    ISLAMABAD (Reuters) – The death toll from an earthquake in Pakistan on Tuesday has risen to 37, the Mirpur divisional commissioner, Muhammad Tayyab, said on Wednesday.

    Tayyab said the dead included men, women and children.