BERLIN (AP) — German Chancellor Olaf Scholz said Wednesday he wants to join employers and labor unions in a “concerted action” to find ways of cushioning the effects of rising prices while preventing a spiral of inflation in Europe’s biggest economy. Germany, like other countries in Europe and beyond, already has seen inflation accelerate sharply…
BERLIN (AP) — Deutsche Bank subsidiary DWS said Wednesday that its chief executive is resigning, hours after authorities raided its offices as part of a probe into claims that the company exaggerated the sustainable credentials of some of the financial products. CEO Asoka Woehrmann is set to step down after the company’s annual general meeting…
MILAN (AP) — Even as the European Union decided to reduce Russian crude oil imports by 90% by the end of the year, Italy has become the only country in Europe to increase them, an unintended consequence of EU sanctions against Russia. Meant to punish Russia for invading Ukraine, the EU oil embargo is now…
BEIJING (AP) — China has barred Russia’s airlines from flying foreign-owned jetliners into its airspace, the Russian news outlet RBK reported, after President Vladimir Putin threw the aircrafts’ ownership into doubt by allowing them to be re-registered in Russia to avoid seizure under sanctions over Moscow’s attack on Ukraine. The European Union, home to major…
TOKYO (AP) — Asian shares declined Thursday, echoing a retreat on Wall Street as investors fretted about higher interest rates and rising coronavirus cases in parts of the region. Benchmarks fell in Tokyo, Shanghai, Hong Kong, Seoul and Sydney. Oil prices fell by more than $2 a barrel. In China, strict COVID-19 restrictions are back…
BEIJING (AP) — China’s support for Russia through oil and gas purchases is irking Washington and raising the risk of U.S. retaliation, foreign observers say, though they see no sign Beijing is helping Moscow evade sanctions over its war on Ukraine. Beijing’s importance as a lifeline to Russian President Vladimir Putin rose Monday after the…
NEW YORK (AP) — A firm that advises investors on proxy voting said Tuesday that Spirit Airlines shareholders should oppose Frontier Airlines’ bid to buy Spirit, saying that a competing offer by JetBlue is financially superior. Institutional Shareholder Services Inc. conceded that Spirit’s board might be correct in concluding that the Frontier offer has a…
WASHINGTON (AP) — A divided Supreme Court has blocked a Texas law, championed by conservatives, that aimed to keep social media platforms like Facebook and Twitter from censoring users based on their viewpoints. The court voted in an unusual 5-4 alignment Tuesday to put the Texas law on hold, while a lawsuit plays out in…
LAS VEGAS (AP) — Las Vegas chapels of love that use Elvis Presley’s likeness could find themselves becoming Heartbreak Hotels. The licensing company that controls the name and image of “The King” is ordering Sin City chapel operators to stop using Elvis in themed ceremonies, the Las Vegas Review-Journal reported on Monday. Authentic Brands Group…
WASHINGTON (AP) — Focused on relentlessly rising prices, President Joe Biden plotted inflation-fighting strategy Tuesday with the chairman of the Federal Reserve, with the fate of the economy and his own political prospects increasingly dependent on the actions of the government’s central bank. Biden hoped to demonstrate to voters that he was attuned to their…
