ISTANBUL (AP) — Mehmet Bogday says his jaw dropped when he saw his electricity bill — it was higher than the rent he pays for his Istanbul restaurant selling traditional Turkish wraps, and more than double what he paid a month ago. “This is unsustainable,” said Bogday, who owns the Asmali Mescit Durumcusu restaurant. “If…
A look at the day ahead in markets from Dhara Ranasinghe. An aggressive 50 basis point U.S. interest rate hike to contain inflation now appears like a no-brainer after the hottest inflation reading in nearly 40 years. St. Louis Federal Reserve President James Bullard said Thursday’s data, with its 7.5% headline inflation print, made him…
LONDON (Reuters) – British American Tobacco on Wednesday reported a 7% rise in fourth-quarter adjusted revenue to $25.7 billion as as more people shifted over to e-cigarettes and oral nicotine amid health concerns during the pandemic. The world’s second-largest tobacco company also announced a dividend increase of 1.0% to 217.8 pence and a £2 billion…
NEW YORK (AP) — Stocks tumbled again Friday, and this time bond yields joined in the swoon as worries about an imminent Russian invasion of Ukraine piled onto Wall Street’s already heavy list of concerns about inflation and interest rates. The S&P 500 lost 1.9% after the White House encouraged all U.S. citizens to leave…
STOCKHOLM (Reuters) – Volvo Cars reported on Friday quarterly earnings below expectations, and said it expected to continue growing sales volume in 2022. The Swedish carmaker’s fourth-quarter operating profit fell to 3.7 billion Swedish crowns ($396.4 million) from 4.9 billion a year ago, compared to a 4.77 billion mean forecast in a Refinitiv poll. ($1…
WASHINGTON (AP) — Since the pandemic erupted two years ago, Forest Ramsey and his wife, Kelly, have held the line on prices at their gourmet chocolate shop in Louisville, Kentucky. Now, they’re about to throw in the towel. In the past year, the costs of ingredients for their business, Art Eatables, have surged between 10%…
(Reuters) – Amazon.com Inc on Thursday informed staff at its U.S. warehouses and logistics sites that they must report being fully vaccinated by March 18 if they wish to receive paid leave due to COVID-19. The company also said fully vaccinated operations staff could work without a face covering starting on Friday as local regulations…
