NEW DELHI (AP) — Indian authorities on Saturday seized $725 million from Chinese smartphone company Xiaomi, accusing it of breaking the country’s foreign exchange laws by making illegal remittances abroad, officials said. The Enforcement Directorate, India’s financial investigation agency, tweeted that it had seized the amount from Xiaomi’s local unit. The move comes after an…
KYIV, Ukraine — Ukrainian President Volodymyr Zelenskyy switched into Russian in his nightly video address to urge Russian soldiers not to fight in Ukraine, saying even their generals expected that thousands of them would die. He said Russia has been recruiting new troops “with little motivation and little combat experience” for the units that were…
BEIJING (AP) — China’s manufacturing activity fell to a six-month low in April as lockdowns continued in Shanghai and other manufacturing hubs in an attempt to stem COVID-19 outbreaks, according to a survey released Saturday. The monthly purchasing managers’ index, released by China’s National Bureau of Statistics, fell to 47.4 in April, down from 49.5…
OMAHA, Neb. (AP) — Tens of thousands of people are expected to pack an Omaha arena Saturday for Warren Buffett’s Berkshire Hathaway’s annual meeting. Most attending the company’s first in-person meeting since the pandemic want to be there just for the chance to hear from the 91-year-old Buffett and his 98-year-old investing partner, Charlie Munger,…
NEW YORK (AP) — Russia staved off a default on its debt Friday by making a last-minute payment using its precious dollar reserves sitting outside the country, U.S. Treasury officials said. The amount of the payment was not disclosed, but earlier this month Russia’s finance ministry said it tried to make a $649 million payment…
In the three days after Elon Musk engineered a deal to buy Twitter, he sold roughly $8.5 billion worth of shares in Tesla to help fund the purchase. Musk reported the sale of 9.6 million shares in filings with the Securities and Exchange Commission on Thursday and Friday. The trades were made at prices ranging…
Thomas Tighe says helping Ukrainians can generally be done by using existing aid strategies. It’s just a matter of scale and adapting to circumstances on the ground. Since Russia invaded Ukraine in February, Tighe and the nonprofit humanitarian medical organization Direct Relief, where he has been president and CEO since 2000, have provided more than…
BERN, Switzerland (AP) — Switzerland’s new attorney general is pushing parliament to give his office more tools to fight white-collar crime. The country’s maximum financial penalty on corporations for wrongdoing is just 5 million Swiss francs ($5 million), and that’s “ridiculous,” Stefan Blaettler said Friday in an interview on the sidelines of his first press…
WASHINGTON (AP) — An inflation gauge closely tracked by the Federal Reserve surged 6.6% in March compared with a year ago, the highest 12-month jump in four decades and further evidence that spiking prices are pressuring household budgets and the health of the economy. Yet there were signs in Friday’s report from the Commerce Department…
NEW YORK (AP) — Exxon Mobil reported $5.48 billion in profits during the first quarter as oil and gas prices rose steadily, more than doubling its profits compared with the same quarter last year. But the oil giant took a huge hit as it abandoned its Russian operations due to the war, writing down $3.4…
