BANGKOK (AP) — Shares were mostly lower in Asia on Friday after Wall Street extended a rally into a third day and oil prices pushed higher, surpassing $105 per barrel. Tokyo and Sydney advanced while Hong Kong, Shanghai and Seoul declined. Ukrainian President Volodymyr Zelenskyy called for more help for his country after days of…
WASHINGTON (AP) — The Senate Banking Committee approved Jerome Powell’s nomination to a second four-year term as chair of the Federal Reserve Wednesday, just hours after the central bank began what will be a difficult effort to combat inflation. Fed governor Lael Brainard was also approved to serve as the Fed’s vice chair, and the…
A leading aircraft-leasing company with planes stuck in Russia says it is making progress toward getting the aircraft back, which was complicated this week when Russia took steps to keep planes owned by foreign entities. “There has been a great deal of cooperation in recovery of aircraft, return of aircraft, and we are making good…
WASHINGTON (AP) — Americans who have long enjoyed the benefits of historically low interest rates will have to adapt to a very different environment as the Federal Reserve embarks on what’s likely to be a prolonged period of rate hikes to fight inflation. Record-low mortgage rates below 3%, reached last year, are already gone. Credit…
More than 60 workers across three Amazon delivery stations staged a walkout on Wednesday to demand a $3 raise and a return to 20-minute breaks, according to one of the labor organizers leading the effort. Ellie Pfeffer, an organizer and warehouse associate at an Amazon delivery station called ZYO1 in Queens, New York, said five…
WASHINGTON (AP) — The Federal Reserve launched a high-risk effort Wednesday to tame the worst inflation since the early 1980s, raising its benchmark short-term interest rate and signaling up to six additional rate hikes this year. The Fed’s quarter-point hike in its key rate, which it had pinned near zero since the pandemic recession struck…
COLOMBO, Sri Lanka (AP) — Sri Lanka’s president said Wednesday that his government was in discussions with the International Monetary Fund, other agencies and countries on deferring loan repayments and requested people’s support by limiting electricity and fuel consumption to cope with the worst economic crisis in memory. President Gotabaya Rajapaksa in his televised address…
LONDON (AP) — BMW and Volkswagen warned this week that Russia’s invasion of Ukraine is causing shortages of some vital components, forcing them to reduce vehicle production in Europe. The two German carmakers said the war is having a “negative” effect on auto supply chains, which have already been battered by shortages of semiconductors. BMW…
SALT LAKE CITY (AP) — A massive reservoir known as a boating mecca dipped below a critical threshold on Tuesday raising new concerns about a source of power that millions of people in the U.S. West rely on for electricity. Lake Powell’s fall to below 3,525 feet (1,075 meters) puts it at its lowest level…
DETROIT (AP) — Any motorist who has had to fill up lately could be forgiven for wincing in disbelief. Fueled largely by Russia’s invasion of Ukraine, gas prices worldwide have skyrocketed. In the U.S., they’ve reached record highs above $4.30 a gallon. That’s 50%, or $1.43 per gallon, more than they were a year ago….
