(Reuters) – Myanmar’s economy will remain critically weak for much of 2022 and will be “severely tested” by the impacts of a coup a year ago, but there are recent signs of stabilisation in manufacturing and exports, according to the World Bank. In its latest update on Myanmar’s economy, the World Bank projects growth of…
LAS VEGAS (AP) — Some shuffling among owners could result in rebranding, demolition, reconstruction and the addition of familiar names at some of the Las Vegas Strip’s most iconic properties. Caesars Entertainment Inc., owner of the venerable Bally’s Las Vegas, announced this week that it plans to rename its heart-of-the-Strip towers the Horseshoe Las Vegas,…
By Karen Freifeld (Reuters) – The Biden administration plans to spare everyday Russians from the brunt of U.S. export controls if Russia invades Ukraine, https://www.reuters.com/world/europe/russian-buildup-ukraine-border-includes-blood-wounded-us-officials-say-2022-01-28 and focus on targeting industrial sectors, a White House official said. “Key people” will also face “massive sanctions” a top Commerce official said in a separate speech on Friday. The…
NEW YORK (AP) — The International Monetary Fund said Friday that El Salvador should dissolve the $150 million trust fund it created when it made the cryptocurrency Bitcoin legal tender and return any of those unused funds to its treasury. The recommendation was part of the international lender’s report on El Salvador’s economy and went…
NEW YORK (Reuters) – U.S. Senator Sherrod Brown on Friday said he met with President Joe Biden’s three latest nominees for the Federal Reserve board, calling them qualified and urging fellow lawmakers to support them. “There is no question that these nominees are qualified,” Brown, a Democrat, said in a statement issued Friday. “In my…
By Stephen Culp NEW YORK (Reuters) – Wall Street surged on Friday, notching its best day so far in 2022 after another zigzag session, ending a tumultuous week marked by mixed corporate earnings, geopolitical turmoil and an increasingly aggressive Federal Reserve. All three major U.S. stock indexes began the day in the red, but turned…
By David Shepardson and Daina Beth Solomon WASHINGTON (Reuters) – Three U.S. lawmakers on Friday urged General Motors and the Mexican government to safeguard worker rights ahead of a union vote next week of Mexican autoworkers at a pick-up truck plant in central Mexico. Representative Earl Blumenauer, who chairs a House Ways and Means subcommittee…
By Jan Strupczewski BRUSSELS (Reuters) – The European Union aims to invest tens of billions of euros to bolster its chip industry and double its share of global production to 20%, the bloc’s industry chief said on Friday, after a global shortage showed the risks of relying on Asian and U.S. suppliers. The EU’s ambitious…
By John McCrank NEW YORK (Reuters) -The U.S. Securities and Exchange Commission (SEC) late on Thursday approved the country’s 17th stock exchange, a subsidiary of Boston-based BOX Exchange, which will incorporate blockchain technology. The new exchange, named BSTX, aims to launch in the second quarter, said Jay Fraser, a director. It will initially trade securities,…
A federal appeals court has upheld California’s net neutrality law, rejecting an attempt by telecommunications industry groups to prevent the state from enforcing it. The 9th Circuit Court of Appeals upheld a previous ruling, which means the status quo stays and the state can continue to enforce the law. This means California can continue its…
