By Uditha Jayasinghe COLOMBO (Reuters) – Crisis-hit Sri Lanka has reached a preliminary agreement with the International Monetary Fund (IMF) for a bailout, four sources with direct knowledge of the plan have told Reuters. The debt-laden country has been seeking up to $3 billion from the global lender in a bid to escape its worst…
SEOUL, South Korea (AP) — South Korea says it plans to challenge a World Bank tribunal’s order to pay $216.5 million plus interest to Texas-based Lone Star Funds following a decade-long dispute over the private equity firm’s sale of the Korea Exchange Bank. South Korean Justice Minister Han Dong-hoon said Wednesday that his government finds…
BERLIN (AP) — Russia’s Gazprom halted the flow of natural gas through a major pipeline from Russia to Europe early Wednesday, a stoppage that it announced in advance and has said will last three days. The Russian state-owned energy company announced the closure of Nord Stream 1 in mid-August, citing maintenance at a compressor station…
NEW YORK (AP) — Bed Bath & Beyond said Wednesday that it will shutter stores and lay off workers in a bid to turn around its beleaguered business. The home goods retailer based in Union, New Jersey, said it will close about 150 of its namesakes stores and slash its workforce by 20%. It estimated…
(Reuters) -Bed Bath & Beyond Inc said on Wednesday it would close 150 stores and cut about 20% of its corporate and supply chain workforce as the cash-strapped home goods retailer struggles to turn around its business. The company said it has secured more than $500 million in new financing, including a new $375 million…
BERLIN (AP) — Hans-Christian Stroebele, a German lawyer who defended members of the far-left Red Army Faction and later became the Green party’s first directly elected constituency lawmaker, has died. He was 83. German news agency dpa quoted his attorney, Johannes Eisenberg, saying Wednesday that Stroebele died on Aug. 29 after a long illness. Stroebele,…
(Reuters) – Bed Bath & Beyond Inc on Wednesday disclosed in a regulatory filing that it could offer more of its common shares, sending the value of its stock down about 20% in premarket trading. The struggling home goods retailer, which is a favorite among retail traders, did not reveal the size of the potential…
NEW YORK (AP) — As winter nears, European nations, desperate to replace the natural gas they once bought from Russia, have embraced a short-term fix: A series of roughly 20 floating terminals that would receive liquefied natural gas from other countries and convert it into heating fuel. Yet the plan, with the first floating terminals…
By Julia Payne LONDON (Reuters) -Oil prices continued to slide on Wednesday on investor worries about the ailing state of the global economy, the prospect of central bank interest rate hikes, and increased restrictions to curb COVID-19 in China. Brent crude futures for October, due to expire on Wednesday, were down $3.56 at $95.75 a…
BERLIN (AP) — Mikhail Gorbachev, the last leader of the Soviet Union and for many the man who restored democracy to then-communist-ruled European nations, was saluted Wednesday as a rare leader who changed the world and for a time brought hope for peace among the superpowers. But the man who died Tuesday at 91 was…
