MOSCOW (AP) — People in Moscow who were disappointed when Starbucks closed its coffee shops after Russia sent troops into Ukraine may now feel a caffeine jolt of hope: A nearly identical operation is opening in the capital. The name’s almost the same: Stars Coffee. The logo could be the separated-at-birth twin of the Starbucks…
LONDON (Reuters) – The Norwegian and New Zealand central banks this week both delivered yet more interest rate hikes and signalled further tightening is round the corner as policymakers globally race to get on top of runaway inflation. Central banks from the United States to Canada, Australia and Switzerland have lined up with aggressive rate…
LONDON (AP) — Thousands of train workers in Britain staged a new round of strikes Thursday, paralyzing rail service across the country in an escalating dispute over pay and working conditions exacerbated by a deepening cost-of-living crisis. Only around one in five trains ran across the U.K. as a result of the walkout by union…
When Phyllis Glink took a job at the Irving Harris Foundation 26 years ago, “we were by far the biggest funders in early childhood because there weren’t that many of us,” she recalls. A group of maybe a dozen foundations interested in early-childhood issues would sometimes gather informally to talk about their work. A lot…
(Reuters) – Bluebird bio slumped nearly 13% on Thursday on concerns over a limited patient pool for its newly approved $2.8 million gene therapy, which investors are hoping can help pull the small drugmaker out of a cash crunch. Zynteglo – which was approved by the U.S. Food and Drug Administration on Wednesday for patients…
Kohl’s on Thursday slashed its sales and profit expectations for the year, a result of its stepped up price cutting to shed unwanted merchandise. The department store chain also cut back on orders ahead of the critical holiday period, spooking investors and sending shares down almost 8%. The news from Kohl’s capped a heavy week…
LOS ANGELES (AP) — The housing market’s comedown from its high-flying days early this year is deepening, with home sales in July falling for the sixth straight month. Sharply higher mortgage rates, surging inflation and prices that remain near all-time highs are making homes less affordable. Sales fell 20.2% from July last year, reaching the…
By Leah Douglas WASHINGTON (Reuters) – A major expansion in tax credits for companies that capture and store carbon emissions under U.S. President Joe Biden’s new climate law could be a boon to the ethanol industry as it seeks to meet its mid-century climate goals. The Inflation Reduction Act (IRA) Biden signed on Tuesday significantly…
(Reuters) – San Francisco Federal Reserve Bank President Mary Daly on Thursday said that either a half- or 75-basis-point interest-rate hike in September would be a “reasonable” way to get short-term borrowing costs to a little over 3% by year end and a little higher than that in 2023. Once rates are at that “restrictive”…
WASHINGTON (AP) — Slightly fewer Americans filed for unemployment benefits last week as the labor market continues to stand out as one of the strongest segments of the U.S. economy. Applications for jobless aid for the week ending August 13 fell by 2,000 to 250,000, the Labor Department reported Thursday. Last week’s number, which raised…
