ISTANBUL (AP) — Turkey’s central bank has slashed interest rates for the third month in a row, making its biggest drop this year despite sky-high inflation that is squeezing people’s finances as it follows President Recep Tayyip Erdogan’s unorthodox economic views. The Central Bank of the Republic of Turkey on Thursday lowered the benchmark rate…
KYIV, Ukraine (AP) — Russian and Ukrainian troops appeared Thursday to be girding for a major battle over the strategic southern industrial port city of Kherson, in a region which Russian President Vladimir Putin has illegally annexed and subjected to martial law. Fighting and evacuations were reported in the Kherson region as Moscow tried to…
JAY, Maine (AP) — Across the U.S., families are looking to the winter with dread as energy costs soar and fuel supplies tighten. The Department of Energy is projecting sharp price increases for home heating compared with last winter and some worry whether heating assistance programs will be able to make up the difference for…
WASHINGTON (AP) — The number of Americans applying for unemployment benefits fell last week and remains historically low even as the U.S. economy slows in the midst of decades-high inflation. Jobless claims for the week ending Oct. 15 declined by 12,000 to 214,000 from 226,000 last week, the Labor Department reported Thursday. The four-week moving…
BANGKOK (AP) — Finance ministers of major Pacific Rim economies pledged Thursday to combat inflation and target spending to support sustainable growth at a meeting in Bangkok ahead of a summit next month. Asked about possible disagreements over Russia’s invasion of Ukraine, Thailand’s finance minister, host of the meeting, acknowledged there were “varying views” among…
(Reuters) – Canada’s main stock index fell at the opening bell on Thursday amid market uncertainty caused by the resignation of Liz Truss as prime minister of the UK, although strong performances by energy stocks limited losses. * At 9:32 a.m. ET (1332 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 19.56 points,…
By Steven Scheer JERUSALEM (Reuters) – Alphabet’s Google on Thursday activated a local cloud region for Israel, offering cloud services to the country’s government and military in a move expected to boost jobs and economic growth. Israel signed a deal with Google and Amazon Web Services (AWS) in May 2021 for the more than $1…
LONDON (Reuters) – Amazon.com Inc is facing a lawsuit in Britain for damages of up to 900 million pounds ($1 billion) over allegations the online marketplace abused its dominant position by favouring its own products, lawyers said. Consumer rights advocate Julie Hunter plans to bring the collective action on behalf of British consumers who have…
(Reuters) -U.S. cigarette maker Altria Group Inc said on Wednesday industry peer Philip Morris International Inc has agreed to pay $2.7 billion for the exclusive right to sell IQOS heated tobacco products in the United States. IQOS is a smokeless tobacco heating device that was developed by Philip Morris and sold in the United States…
BERLIN (AP) — German Chancellor Olaf Scholz said Thursday that Russia’s war in Ukraine mustn’t lead to a “worldwide renaissance” for coal — comments that come as Germany itself brings coal-fired power plants back online in an effort to prevent an energy crunch this winter. In a speech to parliament, Scholz highlighted his government’s efforts…
