BEIJING (AP) — Authorities in central China on Monday announced the arrests of 234 people involved in a scam to bilk people out of their savings with the false promise of high interest rates on deposits in obscure rural banks. The scandal drew national attention after investors seeking answers about where their money went were…
By Dhara Ranasinghe LONDON (Reuters) – World stocks slumped on Monday as the growing risk of more aggressive interest rate hikes in the United States and Europe inflicted fresh pain on bond markets and pushed the dollar to new 20-year highs, just as recession fears mount. Federal Reserve Chair Jerome Powell, speaking at the Jackson…
BERLIN (AP) — About 52 million tickets allowing people to use local public transportation across Germany for just nine euros (dollars) per month were sold over the summer, a group representing transit companies said Monday, days before the project ends and amid widespread calls for some kind of successor. The “9-euro ticket,” which was introduced…
ALEXANDRIA, Va. (AP) — Angela Williams’ first year as United Way Worldwide’s president and CEO has been marked with challenges: rising inflation, the war in Ukraine driving increased demand for charitable services, and the need to rebuild public trust in her organization. As the first Black leader of United Way Worldwide, the former Air Force…
TOKYO (AP) — Major South Korean battery maker LG and Japanese automaker Honda are investing $4.4 billion in a joint venture in the United States to produce batteries for Honda electric vehicles in the North American market, the two companies said Monday. The plant’s site is still undecided, but construction will begin in early 2023,…
By Nerijus Adomaitis and Nora Buli STAVANGER, Norway (Reuters) – Tesla chief Elon Musk said on Monday he aimed to get the electric auto maker’s self-driving technology ready by year-end and hopes it could be in wide release in the United States and possibly in Europe, depending on regulatory approval. Speaking at an energy conference…
By Timothy Aeppel (Reuters) – North American companies snapped up a record number of robots in the first half of this year as they struggled to keep factories and warehouses humming in the face of an extremely tight labor market and soaring compensation costs. Companies ordered a record 12,305 machines in the second quarter valued…
MOSCOW (AP) — Russia said Monday it will launch sweeping military drills in the country’s east that will involve forces from China — a show of increasingly close defense ties between Moscow and Beijing amid tensions with the West over the Kremlin’s action in Ukraine. The Russian Defense Ministry said that the Vostok 2022 (East…
By Foo Yun Chee BRUSSELS (Reuters) -EU antitrust regulators will not appeal a court ruling scrapping its 997-million-euro ($991 million) fine against U.S. chipmaker Qualcomm because it would be difficult to convince Europe’s top court of the merits, people familiar with the matter said. The Luxembourg-based General Court, Europe’s second-highest, in its June judgment was…
KYIV (AP) — A U.N. nuclear watchdog team set off on an urgent mission Monday to safeguard the Russian-occupied Zaporizhzhia atomic power plant at the heart of fighting in Ukraine, a long-awaited trip the world hopes will help avoid a radioactive catastrophe. The stakes couldn’t be higher for the International Atomic Energy Agency experts who…
