By Amruta Khandekar and Devik Jain (Reuters) – The benchmark S&P 500 index is trading down 20% from its Jan. 3 record close in volatile trading on Friday, as investors fretted over the impact of rising inflation on earnings and the fallout of interest rate hikes on economic growth. A close of 20% or more…
RIO DE JANEIRO (AP) — Some of the world’s biggest mining companies have withdrawn requests to research and extract minerals on Indigenous land in Brazil’s Amazon rainforest, and have repudiated Brazilian President Jair Bolsonaro’s efforts to legalize mining activity in the areas. The Brazilian Mining Association (Ibram), which represents around 130 companies, conducted an internal…
(Reuters) -McDonald’s Corp franchisees in Russia will have the option of working under a new brand that will launch imminently, the TASS news agency quoted Oleg Paroev, McDonald’s Russia’s general director, as saying on Friday. “There will be a new brand and we will offer our current franchisees to join the new system on new…
(Reuters) – The benchmark S&P 500 was down 20% from its Jan. 4 intraday record peak on Friday as investors sold stocks amid worries about whether the Federal Reserve will be able to effectively combat inflation without causing a recession. A close of more than 20% below the all-time closing high of Jan. 3 would…
MILAN (AP) — Netflix has agreed to pay more than 55.8 million euros ($59 million) to settle a tax dispute, Milan prosecutors said Friday. The payment covers taxes, penalties and interest from October 2015 through 2019. The streaming service also established an Italian legal entity this year, which will determine its Italian tax burden based…
(Reuters) – McDonald’s Corp is selling its restaurants in Russia to one of its current local licensees, who will reopen the branches under a new name yet to be decided – the most high-profile rebranding so far of companies extricating themselves from Russia. Scores of Western brands have said they intend to exit the market,…
BANGKOK (AP) — With world economies all suffering from more than two years of the coronavirus pandemic and global supply problems exacerbated by Russia’s invasion of Ukraine, the United States has an “incredible opportunity” to engage with other nations on a common playing field and forge new partnerships and agreements, the top U.S. trade negotiator…
By Scott DiSavino NEW YORK (Reuters) -Oil prices steadied on Friday, setting them on course for little change on the week, as a planned European Union ban on Russian oil balanced concerns that slowing economic growth will hurt demand. Brent futures for July delivery rose 2 cents to $112.06 a barrel by 11:07 a.m. EDT…
NEW YORK (AP) — Tesla and SpaceX CEO Elon Musk has denied a claim of sexual misconduct by a flight attendant contracted by SpaceX who worked on his private jet in 2016. A report by Business Insider said SpaceX paid the woman $250,000 in severance in 2018 in exchange for her agreeing not to file…
NEW DELHI (Reuters) – India’s Jet Airways said on Friday the country’s aviation regulator has cleared it to resume operation of commercial flights. Once India’s biggest private carrier, Jet stopped flying in April 2019 after running out of cash, owing billions to lenders and leaving thousands without jobs. Jet said the grant of an air…
