MILAN (AP) — Netflix has agreed to pay more than 55.8 million euros ($59 million) to settle a tax dispute, Milan prosecutors said Friday. The payment covers taxes, penalties and interest from October 2015 through 2019. The streaming service also established an Italian legal entity this year, which will determine its Italian tax burden based…
BANGKOK (AP) — With world economies all suffering from more than two years of the coronavirus pandemic and global supply problems exacerbated by Russia’s invasion of Ukraine, the United States has an “incredible opportunity” to engage with other nations on a common playing field and forge new partnerships and agreements, the top U.S. trade negotiator…
NEW YORK (AP) — Tesla and SpaceX CEO Elon Musk has denied a claim of sexual misconduct by a flight attendant contracted by SpaceX who worked on his private jet in 2016. A report by Business Insider said SpaceX paid the woman $250,000 in severance in 2018 in exchange for her agreeing not to file…
BERLIN (AP) — A court in Germany cast doubt Friday on claims by a German farmer that automaker Volkswagen is partly responsible for the impact that global warming is having on his family business. The plaintiff, Ulf Allhoff-Cramer, claims drier soil and heavier rains due to climate change are harming his fields, cattle and commercial…
TOKYO (AP) — Japan welcomes a new U.S. economic initiative for the Indo-Pacific that President Joe Biden is expected to roll out during a visit to Tokyo next week because it demonstrates American commitment to a regional economic order that is not just about market access, an official said Friday. Biden is proposing the new…
COPENHAGEN, Denmark (AP) — Russia will cut off natural gas to Finland after the Nordic country that applied for NATO membership this week refused President Vladimir Putin’s demand to pay in rubles, the Finnish state-owned energy company said Friday, the latest escalation over European energy amid the war in Ukraine. Finland is the latest country…
KOENIGSWINTER, Germany (AP) — The Group of Seven leading economies agreed Friday to provide $19.8 billion in economic aid to Ukraine to help keep tight finances from hindering its ability to defend itself from Russia’s invasion. German Finance Minister Christian Lindner told reporters that $9.5 billion of the total amount was mobilized at meetings of…
MILAN (AP) — Edoardo Ronzoni inspects a construction site near Milan that he shut down in March as costs for materials skyrocketed. He can’t complete a half-built roundabout at an intersection known for fender-benders because asphalt, cast-iron pipes and concrete are too expensive — prices exacerbated by Russia’s war in Ukraine. Public works projects in…
NEW YORK (AP) — Wall Street rumbled to the edge of a bear market Friday after another drop for stocks briefly sent the S&P 500 more than 20% below its peak set early this year. The S&P 500 index, which sits at the heart of most workers’ 401(k) accounts, was down as much as 2.3%…
COLOMBO, Sri Lanka (AP) — China says its initiative to build ports and other infrastructure across Asia and Africa, paid for with Chinese loans, will boost trade. But in a cautionary tale for borrowers, Sri Lanka’s multibillion-dollar debt to Beijing threatens to hinder efforts to resolve a financial crisis so severe that the Indian Ocean…
