CANBERRA, Australia (AP) — Australia’s new government released plans Tuesday for more spending on families, the elderly, defense and its Pacific neighbors as the country braces for an economic slowdown due to rising interest rates, inflation and disastrous floods. Treasurer Jim Chalmers delivered his center-left Labor Party’s first annual budget for the fiscal year that…
BERLIN (AP) — German and European Union leaders gathered experts Tuesday to start work on what Germany’s chancellor described as a “new Marshall Plan” for the rebuilding of Ukraine. The Marshall Plan was a U.S.-sponsored initiative that helped revive western European economies after World War II. German Chancellor Olaf Scholz, whose country currently chairs the…
BRUSSELS (AP) — European Union nations on Tuesday gave themselves yet another month to overcome deep differences on groundbreaking measures to shield their citizens from the energy crisis. Such initiatives are also necessary for the bloc to maintain a united front during Russia’s war in Ukraine. With winter approaching, home energy bills piling up and…
Wall Street notched more gains Tuesday, as major stock indexes rallied for the third day and Treasury yields fell again. The S&P 500 rose 1.6%, with roughly 90% of stocks in the index notching gains. The benchmark index hadn’t been able to string together more than two gains in a row since mid-September. The Dow…
MIAMI (AP) — The Biden administration is ratcheting up pressure on President Daniel Ortega’s authoritarian rule in Nicaragua, threatening a ban on Americans from doing business in the nation’s gold industry, raising the possibility of trade restrictions and stripping the U.S. visas of some 500 government insiders. The actions, stemming from an executive order signed…
PARIS (AP) — French prosecutors said Monday that Credit Suisse has agreed to pay 238 million euros ($234 million) to settle tax fraud allegations, the latest blow for the embattled Swiss bank. The bank will pay 123 million euros in fines and 115 million in damages and interest to France, whose investigators will close an…
LONDON (AP) — This year’s United Nations climate summit is brought to you by Coke. Soft drink giant Coca-Cola Co.’s sponsorship of the flagship U.N. climate conference, known as COP27, sparked an online backlash and highlighted broader concerns about corporate lobbying and influence. The COP27 negotiations aimed at limiting global temperature increases are set to…
Dubai, UNITED ARAB EMIRATES (AP) — In nearly every corner of the globe, people are spending more on food and fuel, rent and transportation. But inflation isn’t affecting people equally. For migrants with relatives relying on money they send back, higher prices are pinching families twice: at home and abroad. Migrant workers who send cash…
BANGKOK (AP) — Myanmar’s central bank has promised improvements and warned against currency manipulation after an international watchdog put the military-controlled country on a terrorism and financial crimes blacklist. The Financial Action Task Force recommended that Myanmar be included among countries requiring stronger due diligence, citing deficiencies in its enforcement of precautions against money laundering…
BEIJING (AP) — China’s economic growth picked up in the latest quarter but still was among the weakest in decades as the ruling Communist Party tries to reverse a slump while enforcing anti-virus controls and a crackdown on debt in its vast real estate industry. The world’s second-largest economy grew by 3.9% over a year…
