Hennessy cognac workers in France are striking over potential plans to shift some bottling to China. This move comes amidst a trade war sparked by tariffs on Chinese EVs and European spirits. Workers fear job losses and damage to cognac's French heritage, while producers grapple with economic pressures and maintaining brand integrity.

The US Supreme Court is set to hear a case that could potentially dismantle the Consumer Financial Protection Bureau (CFPB), which is currently led by director Rohit Chopra. Chopra has been aggressive in targeting abuses in the mortgage-lending sector, utilizing artificial intelligence in credit underwriting, and curbing "junk fees." Despite opposition from the financial industry, Chopra has received support from consumer groups, civil rights organizations, and progressive lawmakers for his efforts to protect consumers and hold financial institutions accountable. The CFPB's effectiveness is seen as the reason for the attack on the agency.

A government shutdown could lead to the unpaid furlough of numerous federal employees, causing potential disruptions in services such as passport processing and national park maintenance. While some essential workers would still be on the job without pay, services like mail delivery, tax collection, and US debt payments would continue as usual.

The United Auto Workers union initiated coordinated strikes at three plants under the ownership of major automakers: General Motors, Ford, and Stellantis (Chrysler's parent company) on Friday. This marks the most significant industrial labor action in the United States in decades.These strikes will disrupt the production of several well-known models, including the Ford Bronco, Jeep Wrangler, and Chevrolet Colorado pickup truck, among others.

BP's CEO, Bernard Looney, has made an unexpected resignation due to his failure to fully disclose past personal relationships with colleagues, as confirmed by the company. In a statement, BP announced Looney's immediate departure, noting that he acknowledged his lack of full transparency in prior disclosures. In the interim, the role of CEO will be assumed by Murray Auchincloss, the company's Chief Financial Officer since July 2020.

There has been a drop in FDI in china and its inflow slowed to less than $4.9 billion for the second quarter. Plus, investors are nervous due to direction of competitive and political friction between China and the West.

Yellow Corp, one of the largest US trucking companies, has filed for Chapter 11 bankruptcy protection. The 100-year-old US trucking firm's bankruptcy filing lists estimated assets and liabilities of $1 billion to $10 billion.

In order to avoid risk of being caught in the superpower rivalry, many US companies have started to relocate their supply chain to reduce dependency on China. Now, Chinese products account for roughly 1 out of every 6 dollars Americans spend on imports, down from nearly 1 in 4 before the Covid pandemic.

Musk said last month in an exchange on what was then called Twitter that the company was "still negative cash flow" due to a drop of around 50 percent in advertising revenue "plus heavy debt load."

Apple's stock price plummeted by nearly 4% on Thursday following reports of expanded iPhone usage restrictions for Chinese government employees. This news led to a broader sell-off in the technology sector.

According to a report from Janus Henderson, the top 1,200 publicly traded companies experienced a greater-than-anticipated increase in payments, with a rise of 4.9 percent during the April-to-June period compared to the same period last year.