MOSCOW (AP) — The Russian central bank diverged from its Western counterparts by slashing its key interest rate Friday just a month after dropping it to where it was before the country sent troops into Ukraine. The bank lowered its key rate by 1.5 percentage points, to 8%, saying consumer prices are still easing partly…
DETROIT (AP) — Clogged oil ports, electrical shorts and leaks of brake fluid are only some of the safety problems that have caused multiple fires and forced Hyundai and Kia to recall millions of vehicles in the past seven years. Now, Hyundai, the larger of the two affiliated Korean automakers, has promoted its North American…
By Jonathan Cable and Leika Kihara LONDON/TOKYO (Reuters) – The global economy looks increasingly likely to be heading into a serious slowdown, just as central banks aggressively reverse ultra-loose monetary policy adopted during the pandemic to support growth, data showed on Friday. In the euro zone, business activity contracted this month for the first time…
By Joshua Schneyer, Mica Rosenberg and Kristina Cooke LUVERNE, Alabama (Reuters) – A subsidiary of Hyundai Motor Co has used child labor at a plant that supplies parts for the Korean carmaker’s assembly line in nearby Montgomery, Alabama, according to area police, the family of three underage workers, and eight former and current employees of…
NEW YORK (AP) — American Express’ profits fell 14% in the second quarter, the company said Friday, as higher expenses more than offset record spending on its network by its cardmembers. AmEx had profit of $1.96 billion, or $2.57 a share, down from $2.28 billion, or $2.80 a share, in the same period a year…
(Reuters) -Twitter Inc on Friday blamed its ongoing battle to close its $44-billion acquisition by Elon Musk and a weakening digital advertising market for a surprise fall in quarterly revenue. The results come as Twitter has sued Musk for dropping his offer to buy the company, and is now preparing for a legal showdown in…
LONDON (AP) — Twitter reported a quarterly loss Friday and declining revenue caught Wall Street off guard with the number of people using the platform on the rise. The latest quarterly earnings figures offered a glimpse into how the social media platform has performed during a months-long negotiation with billionaire and Tesla CEO Elon Musk…
LONDON (Reuters) -Hundreds of British Airways workers at London’s Heathrow airport voted on Friday to call off strike action after accepting a pay offer, the GMB union said. “No one wanted a summer strike at Heathrow, but our members had to fight for what was right. This improved pay deal came because of their efforts,”…
FRANKFURT/HELSINKI (Reuters) -Uniper on Friday received 15 billion euros ($15.2 billion) in guarantees and equity as the German government stepped in to save the gas importer that is the biggest casualty of Europe’s energy crisis so far. The state bail-out caps weeks of intense negotiations between Germany and Finland, which controls Uniper’s majority shareholder Fortum….
BERLIN (AP) — The German government will take a roughly 30% stake in energy supplier Uniper as part of a rescue package prompted by surging prices for natural gas and reduced Russian deliveries, the company and Chancellor Olaf Scholz said Friday. Uniper, which has been Germany’s biggest importer of Russian gas used to fuel industry,…
