By Andrea Shalal KYIV (Reuters) – Securing a new $5 billion loan from the IMF would help assure Ukraine’s other creditors that the war-torn country’s macroeconomic situation was under control, President Volodymyr Zelenskiy’s chief economic adviser told Reuters on Friday. Fresh financing from the International Monetary Fund for around 18 months could serve as the…
LOS ANGELES (AP) — California Gov. Gavin Newsom on Friday proposed extending the life of the state’s last operating nuclear power plant by five to 10 years to maintain reliable power supplies in the climate change era. The proposal to keep the Diablo Canyon Nuclear Power Plant running beyond a scheduled closing by 2025 gave…
WASHINGTON (AP) — With inflation raging near its highest level in four decades, President Joe Biden on Tuesday signed into law his landmark Inflation Reduction Act. Its title raises a tantalizing question: Will the measure actually tame the price spikes that have inflicted hardships on American households? Economic analyses of the proposal suggest that the…
By Stephanie Kelly NEW YORK (Reuters) -Oil prices plunged around 2% on Friday, on expectations that supply disruptions in the U.S. Gulf of Mexico would be short-term, while recession fears clouded the demand outlook. Futures, however, were still on track for a weekly gain. Brent crude futures fell $1.47, or 1.5%, to $98.13 a barrel…
By David Morgan WASHINGTON (Reuters) – The $430 billion climate change, healthcare and tax bill due to pass the U.S. Congress on Friday aims to help reduce the carbon emissions that drive climate change and lower medical costs for older Americans. President Joe Biden’s Democrats hope the bill, once passed by both houses of Congress,…
By Chibuike Oguh and Angelique Chen NEW YORK (Reuters) – Kewsong Lee bolstered Carlyle Group Inc’s growth after he took over the reins in 2018, yet the private equity firm continued to play catchup with its larger and more diversified publicly listed rivals, according to people close to the situation, analysts and investors. Carlyle announced…
By David Shepardson and Joseph White WASHINGTON (Reuters) – U.S. automakers and dealers are scrambling to figure out if they can still offer $7,500 tax credits to would-be buyers of electric vehicles (EVs), as Congress prepares for final votes today on a bill that includes a top-to-bottom overhaul of Washington’s clean vehicle policies. Under the…
BEIRUT (AP) — A judge ordered a gunman who took up to 10 hostages at a Beirut bank to force the release of his trapped savings to stay behind bars Friday, apparently a bid to prevent copycats as desperation deepens over Lebanon’s economic meltdown. A few dozen relatives of Bassam al-Sheikh Hussein briefly closed a…
SHANGHAI/HONG KONG (Reuters) -Five Chinese state-owned firms including China Life Insurance and oil giant Sinopec said Friday they would delist from the New York Stock Exchange, amid heightened diplomatic and economic tensions with the United States. The companies, which also include Aluminium Corporation of China (Chalco), PetroChina and Sinopec Shanghai Petrochemical Co, said in separate…
By Noah Browning LONDON (Reuters) – Oil prices fell on Friday, held down by recession fears clouding the demand outlook, but remained on track for a weekly gain. Brent crude futures were down $1.33, or 1.3%, at $98.27 a barrel by 1225 GMT while U.S. West Texas Intermediate (WTI) crude fell $1.51, or 1.6%, to…
