LONDON (AP) — New British Prime Minister Liz Truss announced Thursday that her Conservative government will cap domestic energy prices for homes and businesses to ease a cost-of-living crisis that has left residents across the United Kingdom facing a bleak winter. The moves are a huge government intervention in the economy by Truss, who sees…
KYIV, Ukraine (AP) — The head of Ukraine’s atomic energy operator accused Russia on Thursday of trying to “steal” Europe’s largest nuclear plant by cutting it off from the Ukrainian electricity grid and leaving it on the brink of a radiation disaster. The Zaporizhzhia Nuclear Power Plant has been without an outside source of electricity…
KYIV, Ukraine (AP) — U.S. Secretary of State Antony Blinken paid an unannounced visit to Kyiv on Thursday as the Biden administration announced major new military aid worth more than $2.8 billion for Ukraine and other European countries threatened by Russia. In meetings with senior Ukrainian officials, including President Volodymyr Zelenskyy, Blinken said the Biden…
FRANKFURT, Germany (AP) — The European Central Bank made its largest-ever interest rate increase Thursday, following the U.S. Federal Reserve and other central banks in a global stampede of rapid rate hikes meant to snuff out the inflation that is squeezing consumers and pushing Europe toward recession. The bank’s governing council raised its key benchmarks…
TOKYO (AP) — Asian benchmarks rose Friday, cheered by gains on Wall Street as comments from the Federal Reserve chairman assured markets on the expected rate rise. Japan’s benchmark Nikkei 225 rose 0.4% in morning trading to 28,181.50. Australia’s S&P/ASX 200 added 0.5% to 6,881.30. Hong Kong’s Hang Seng jumped 2.3% to 19,282.70, while the…
Starbucks said Wednesday it will reinstate seven employees who were fired in February after leading an effort to unionize their Memphis store. The seven will get their jobs back after the Seattle-based coffee giant lost an appeal of a lower court’s order to reinstate them. Starbucks said the employees violated company policy by reopening the…
Movie theater operator Cineworld Group LLC has filed for Chapter 11 bankruptcy protection in the U.S. as it deals with billions of dollars in debt and lower-than-expected attendance at screenings. “The pandemic was an incredibly difficult time for our business, with the enforced closure of cinemas and huge disruption to film schedules that has led…
WASHINGTON (AP) — The Federal Reserve will need to continue lifting its short-term interest rate to a level that restricts economic growth and keep it there for an extended period, a top Fed official said Wednesday. In her remarks to a banking industry conference, Fed Vice Chair Lael Brainard echoed similarly tough comments about inflation…
Elon Musk will be able to include new evidence from a Twitter whistleblower as he fights to get out of his $44 billion deal to buy the social media company, but Musk won’t be able to delay a high-stakes October trial over the dispute, a judge ruled Wednesday. Chancellor Kathaleen St. Jude McCormick, the head…
CUPERTINO, Calif. (AP) — Apple’s latest line-up of iPhones will boast better cameras, faster processors, and a longer lasting battery — all at the same prices as last year’s models, despite inflationary pressure that has driven up the cost of many other everyday items. That pricing decision, revealed Wednesday during Apple’s first in-person product event…
