(Reuters) – Russia’s weekly consumer prices rose as the rouble’s tumble past 100 to the dollar added to already high inflationary pressure, data from the state statistics service Rosstat showed on Wednesday. The Bank of Russia hiked its key interest rate by 350 basis points to 12% on Tuesday, following on from a 100-basis-point increase…
By Rachel Nostrant (Reuters) – The Punana Leo language-immersion school in Lahaina, the historic former capital of the Kingdom of Hawaii, stood for decades as a gleaming symbol of the fight to stop Hawaiian language and culture from disappearing forever. Last week the preschool became one of the casualties of a wildfire inferno that displaced…
GENEVA (Reuters) -A World Trade Organization (WTO) dispute settlement panel on Wednesday found that China had acted inconsistently with its WTO obligations by imposing additional duties on certain U.S. imports in response to U.S. tariffs on steel and aluminium. The office of the U.S. Trade Representative said it was pleased with the WTO decision, adding…
By Anirban Sen NEW YORK (Reuters) -Intel Corp scrapped its $5.4 billion deal to buy Israeli contract chipmaker Tower Semiconductor Ltd after their merger agreement expired without regulatory approval from China. U.S.-listed shares of the Israeli company fell about 11% in premarket trading. Intel, which had decided to buy Tower last year, will pay a…
By Valentina Za and Angelo Amante MILAN (Reuters) -A law proposed by the Italian prime minister’s party to help those in arrears has sparked alarm among investors in the country’s 307 billion euro ($335 billion) bad debt market, who worry it gives borrowers an option to stop paying back loans. Speaking on condition of anonymity…
By Elena Fabrichnaya, Gleb Stolyarov and Anastasia Lyrchikova MOSCOW (Reuters) -Russian authorities are discussing bringing back the compulsory sale of foreign currency revenues for exporters, five sources familiar with the matter told Reuters, with one high-level source saying that the change could be made “at any moment”. The need to reintroduce stringent capital controls comes…
(This Aug. 15 story has been corrected to say that the cost target is $50 at cell level and less than $100 at pack level in paragraph 7) By Paul Lienert (Reuters) – Our Next Energy, the Michigan-based electric vehicle battery startup, said its new Aries II battery pack is capable of providing 350 miles…
(Reuters) – Insured property losses from the wildfire that ravaged the resort town of Lahaina in Hawaii last week are estimated to be about $3.2 billion, catastrophe modeling firm Karen Clark & Company (KCC) said on Wednesday. The inferno killed at least 106 people after racing from grasslands outside town into Lahaina last Tuesday. The…
(This Aug. 12 story has been corrected to state that ICER’s final analysis was that Zolgensma was cost effective at a price of $1.1 million to $1.9 million in paragraph 27) By Deena Beasley LOS ANGELES (Reuters) – Baby Ben Kutschke was diagnosed at three months with spinal muscular atrophy, a rare inherited disorder which…
(Reuters) -Visa is under fresh investigation by the U.S. Department of Justice over allegations it is charging retailers more for not using the payment firm’s proprietary tokenization technology, Bloomberg News reported on Wednesday, citing people familiar with the matter. The DOJ’s antitrust probe against Visa, which began in early 2021, is investigating if the company…
