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(Bloomberg) -- Australia’s economic weakness persisted in the three months through June as consumers hunkered down in the face of elevated borrowing costs and stubbornly sticky inflation.Most Read from BloombergHow Air Conditioning Took Over the American OfficeHong Kong’s Arts Hub Turns to Selling Land to Stay AfloatGross domestic product advanced 0.2% from the prior quarter, helped by government spending and matching economists’ estimate, official data showed Wednesday. From a year earlier, gro

A soft macroeconomic environment has resulted in lighter shipments for ArcBest and a delay in the company’s freight swap. The post Economic headwinds, light shipments weigh on ArcBest in August appeared first on FreightWaves.

The drop in the benchmark retail diesel price is a lot smaller than what is going on in futures markets. The post Benchmark diesel price drops a little; oil futures markets drop a lot appeared first on FreightWaves.

(Bloomberg) -- Brazil’s state-controlled oil producer Petroleo Brasileiro SA tapped global bond markets to borrow $1 billion, joining a wave of sales by other emerging-market companies and governments.Most Read from BloombergHow Air Conditioning Took Over the American OfficeHong Kong’s Arts Hub Turns to Selling Land to Stay AfloatPetrobras sold dollar-denominated notes due in 2035, according to people familiar with the matter, who asked not to be identified because they’re not authorized to spea

(Bloomberg) -- Emerging-market assets fell for a second day amid a rout in commodity prices and with traders focused on a slew of economic data that will provide more clues on the Federal Reserve’s rate-cut path.Most Read from BloombergHow Air Conditioning Took Over the American OfficeHong Kong’s Arts Hub Turns to Selling Land to Stay AfloatGauges for emerging-market stocks and currencies extended losses after US manufacturing activity shrank in August for a fifth month, reflecting faster rates

Shares of U.S. Steel tumbled 4.4% after Vice President Kamala Harris told a crowd in Pennsylvania on Monday that she opposed the company's planned sale to Japan's Nippon Steel. The Democratic presidential nominee's comments, which echo President Joe Biden's position, came after Nippon Steel Corp. said last week it would spend an additional $1.3 billion to upgrade facilities in Pennsylvania and Indiana, on top of a previous $1.4 billion commitment. Boeing's contract with the International Association of Machinists is set to expire just before midnight on Sept. 12.

(Bloomberg) -- Brazil’s economy grew much more than expected in the second quarter, powered by strong consumer spending, raising the prospect of interest rate hikes in the near future.Most Read from BloombergA Guide to Urban Swimming in Europe, Beyond the SeineDense Cities With Low Emissions Suffer Most From Air Pollution, Study FindsGross domestic product expanded 1.4% in the April-June period compared to the first quarter, more than all forecasts in Bloomberg survey that had a 0.9% median esti