LONDON (AP) — The European Union is beefing up its code of practice on disinformation by enlisting more tech companies beyond Google, Twitter and Facebook parent Meta and adding measures to prevent online purveyors of fake news from profiting. The EU’s executive Commission unveiled an update Thursday to its four-year-old voluntary code that, together with…
NEW YORK (AP) — Revlon, the 90-year-old multinational beauty company, has filed for Chapter 11 bankruptcy protection, weighed down by debt load, disruptions to its supply chain network and surging costs. The New York-based company said that upon court approval, it expects to receive $575 million in financing from its existing lenders, which will allow…
Severe weather has forced Abbott Nutrition to pause production at a Michigan baby formula factory that had just restarted after being closed for several months, contributing to a national shortage. Production for Abbott’s EleCare specialty formula has been suspended, but there is enough supply to meet demand until production is restarted, the company said. Abbott…
BRUSSELS (AP) — A contest to lead Europe’s financial rescue fund is drawing to a close with the spotlight on three candidates. But a question that has hung over the monthslong race looks certain to persist: Will the winner have enough to do despite fresh economic shocks? Finance ministers from the 19 countries that share…
ST. PETERSBURG, Russia (AP) — The head of the Russian Central Bank warned Thursday that the country’s economy faces pressure from abroad that could persist indefinitely, dampening hopes that conditions could return to what they were before Russia sent troops into Ukraine. “It seems to me that it’s obvious to everyone that it won’t be…
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell has pledged to do whatever it takes to curb inflation, now raging at a four-decade high and defying the Fed’s efforts so far to tame it. Increasingly, it seems, doing so might require the one painful thing the Fed has sought to avoid: A recession. A worse-than-expected…
LONDON (AP) — The Bank of England raised interest rates by a quarter-percentage point Thursday, shrugging off pressure for a bolder move to combat price increases that have pushed inflation to a 40-year high. The bank’s monetary policy committee voted 6-3 to boost its key rate to 1.25%, with the dissenters supporting a larger half-point…
BRESCIA, Italy (AP) — Fine Italian knitwear packed in boxes addressed to retailers in Moscow, St. Petersburg and Kursk sit stacked in a Lombardy warehouse awaiting dispatch. Although not subject to sanctions to punish Russia for invading Ukraine, the garments are not likely to ship any time soon. Missing payments from the Russian retailers who…
BEIJING (AP) — Asian stock markets were mostly lower Friday after Wall Street fell on fears interest rate hikes will depress global economic activity. Tokyo, Seoul and Sydney fell. Shanghai and Hong Kong advanced. Oil prices edged lower but stayed above $115 per barrel. Wall Street’s benchmark S&P 500 index tumbled 3.3% after Britain’s central…
CANBERRA, Australia (AP) — Australia’s new government on Thursday formally committed to a more ambitious greenhouse gas reduction target of 43% by the end of the decade in fulfillment of a key election pledge. The previous conservative government was dumped by voters at the May 21 election after it stuck to a seven-year-old pledge to…
