By David Lawder WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen on Thursday urged the World Bank Group and other multilateral development banks to revamp their business models and dramatically boost lending to address pressing global needs such as climate change. In a speech ahead of next week’s World Bank and International Monetary Fund annual meetings,…
By Paul Carrel BERN/GRANDE DIXENCE, Switzerland (Reuters) – Having dodged most of the fuel-driven surge in inflation plaguing its neighbours, Switzerland is moving ahead with plans to boost its energy security and lock in tame power prices – but only reluctantly. Switzerland’s focus on hydropower, which Energy Minister Simonetta Sommaruga calls “the backbone” of its…
By Tom Hals WILMINGTON, Del. (Reuters) -Elon Musk said banks are working cooperatively to finance his $44 billion deal for Twitter Inc and he asked a judge to halt the social media company’s lawsuit against him just days before trial, according to a Thursday court filing. The world’s richest person said this week he would…
A judge has delayed a looming trial between Twitter and Elon Musk, giving the Tesla CEO more time to close his $44 billion deal to buy the company after months spent fighting to get out of it. Musk had asked to halt the upcoming Delaware court trial, where the Tesla billionaire was expected to fare…
By Tom Hals WILMINGTON, Del (Reuters) -Elon Musk requested a judge stay his litigation with Twitter Inc pending the receipt of financing for the $44 billion deal, which he said is expected to close on or around Oct. 28, according to a court filing. “As a result there is no need for an expedited trial…
NEW YORK (AP) — A fire broke out late Wednesday at an Amazon facility in upstate New York that’s voting in a union election next week. The fire at the warehouse, located near Albany in the town of Schodack, began around 10:50 p.m. and lasted until shortly after midnight, according to Schodack police . It’s…
WASHINGTON (AP) — More interest rate increases will be necessary to wrestle inflation under control, Federal Reserve Governor Lisa Cook said Thursday, echoing several tough speeches by other central bank officials this week. Cook said she has revised her views on inflation in the past several months and now sees it as more persistent. And…
FRANKFURT (Reuters) – German sporting goods maker Adidas on Thursday said it has put under review its business partnership with rapper and fashion designer Kanye West. “After repeated efforts to privately resolve the situation, we have taken the decision to place the partnership under review. We will continue to co-manage the current product during this…
By Julie Gordon and David Ljunggren OTTAWA (Reuters) -The Bank of Canada made clear on Thursday it will not yet be pivoting away from its current rapid pace of interest rate increases, with Governor Tiff Macklem saying there is no sign underlying inflation is easing. The central bank has hiked its policy rate by 300…
BERLIN (AP) — Germans are using too much gas to avoid a potential energy “emergency” this winter, the head of Germany’s national network regulator warned Thursday. “Gas consumption increased by too much last week,” said Klaus Mueller, head of Germany’s network agency. With the reduction in natural gas flows from Russia amid the war in…
