WASHINGTON (AP) — The president of the Federal Reserve Bank of Kansas City, Esther George, said Wednesday that she will retire in January, as required by the Fed’s mandatory retirement rules. George, who has typically supported higher interest rates to ward off inflation — a “hawk,” in Fed parlance — spent 40 years at the…
NEW YORK (AP) — Darren Walker, Ford Foundation president and preeminent connector and advocate for artists and art institutions, joined the exclusive company of global superstars like Stevie Wonder, T.S. Eliot and Meryl Streep, in receiving France’s highest cultural honor. Walker was named commander of France’s Order of Arts and Letters for his work as…
Russia says it will pay dollar-denominated foreign debt in rubles, a move that is likely to be seen by foreign investors as a default. The U.S. Treasury Department led by Janet Yellen allowed a license to expire Wednesday that permitted Russia to keep paying its debtholders through American banks. The license applied to American investors…
LONDON (AP) — An investigative report released Wednesday blamed British Prime Minister Boris Johnson and other senior leaders for allowing boozy government parties that broke the U.K.’s COVID-19 lockdown rules, and while Johnson said he took “full responsibility” for the breaches, he insisted he would not resign. Revelations that Johnson and his staff repeatedly flouted…
DAVOS, Switzerland (AP) — Soaring inflation. Russia’s war in Ukraine. Squeezed supply chains. The threat of food insecurity around the world. The lingering COVID-19 pandemic. The risks to the global economy are many, leading to an increasingly gloomy view of the months ahead for corporate leaders, government officials and other VIPs at the World Economic…
KYIV, Ukraine (AP) — Ukraine’s president said Wednesday that Russia must pull back to its pre-war positions as a first step before diplomatic talks, a negotiating line that Moscow is unlikely to agree to anytime soon as it focuses its fire on key regions in the east three months into the war. Speaking by video…
DAVOS, Switzerland (AP) — Executives with German automaker Volkswagen say at the World Economic Forum meeting in Davos that supply chain problems exacerbated by the Russia-Ukraine war are easing but they’re dealing with a huge backlog of orders. Audi board member Hildegard Wortmann says the VW-owned brand has its “highest level of orders at the…
BERLIN (AP) — Commodities firm Glencore says it has reached deals with authorities in the United States, Britain and Brazil to resolve corruption allegations in return for penalties totaling up to $1.5 billion. The Anglo-Swiss company said late Tuesday that it will pay $700 million to resolve a U.S. bribery probe and a further $486…
BAKHMUT, Ukraine (AP) — Chunks of thick, twisted metal and wood splinters lie among the swings and slides in the playground outside a bombed-out school. Some streets away, a yellow bathtub dangles over the void left when part of an apartment building collapsed in a bombing. The eastern Ukrainian town of Bakhmut has been coming…
Pfizer said Wednesday that it will provide nearly two dozen products, including its top-selling COVID-19 vaccine and treatment, at not-for-profit prices in some of the world’s poorest countries. The drugmaker announced the program at the World Economic Forum’s annual gathering in Davos, Switzerland, and said it was aimed at improving health equity in 45 lower-income…
