DOVER, Del. (AP) — A Delaware judge on Monday halted a lawsuit filed by basketball legend Julius Erving against a brand-development and marketing company, ruling that the dispute must go to arbitration. The lawsuit by the Hall of Fame player known as “Dr. J” stems from a 2016 agreement to sell a majority interest in…
WASHINGTON (AP) — Two Federal Reserve officials said Monday that they favor raising the Fed’s key rate to roughly 5% or more and keeping it at its peak through next year — longer than many on Wall Street have expected. John Williams, president of the Federal Reserve Bank of New York, who is among a…
NEW YORK (AP) — Fidelity Charitable is getting into NFTs, the digital images that are registered on the blockchain, despite a torrent of bad news from the adjacent world of cryptocurrencies. The nation’s largest grantmaker is sponsoring a raffle that ends Tuesday, where participants can claim one of the NFTs, which stands for nonfungible token,…
BRUSSELS (AP) — The head of the European Central Bank said Monday she does not believe inflation has peaked after reaching the highest levels on record. ECB President Christine Lagarde also told European lawmakers that the bank isn’t through raising interest rates to combat those price spikes. There is too much uncertainty to know whether…
OMAHA, Neb. (AP) — President Joe Biden on Monday asked Congress to intervene and block a railroad strike before next month’s deadline in the stalled contract talks, and House Speaker Nancy Pelosi said lawmakers would take up legislation this week to impose the deal that unions agreed to in September. “Let me be clear: a…
Cryptocurrency lender BlockFi filed for Chapter 11 bankruptcy protection Monday, the latest casualty of the collapse of crypto exchange FTX. New Jersey-based BlockFi had been struggling for much of this year but was given a lifeline this summer in the form of an FTX line of credit. FTX’s own bankruptcy, however, all but sealed BlockFi’s…
LONDON (AP) — Irish regulators slapped Facebook parent Meta with a 265 million-euro ($277 million) fine Monday, the company’s latest punishment for breaching strict European Union data privacy rules. The Data Protection Commission said Meta Platforms infringed sections of the EU rules, known as the General Data Protection Regulation, that require technical and organizational measures…
BUCHAREST, Romania (AP) — Russian energy giant Gazprom announced Monday that it will not further reduce natural gas to Moldova as it had threatened to do after claiming that bills went unpaid and that flows crossing through Ukraine were not making it to Moldova. Gazprom tweeted that Moldovagaz has “eliminated the violation of payment” for…
HONG KONG (AP) — With police out in force, there was no word of additional protests against strict government anti-pandemic measures Tuesday in Beijing, as temperatures fell well below freezing. Shanghai, Nanjing and other cities where online calls to gather had been issued were also reportedly quiet. Rallies against China’s unusually strict anti-virus measures spread…
TOKYO (AP) — Asian shares were mostly higher Tuesday as market jitters declined over protests in China set off by growing public anger over COVID-19 restrictions. Benchmarks rose in early trading in Australia, South Korea and China, while shares fell in Japan. Oil prices fell. Japanese government data released Tuesday showed that the unemployment rate…
