BRUSSELS (AP) — The European Union appears determined to respond to new Russian attempts to annex parts of Ukraine with more sanctions, but finding a consensus among member countries is becoming increasingly difficult as measures meant to punish Moscow bite into their own economies. The 27-nation bloc has imposed six rounds of sanctions on Russia…
ISTANBUL (AP) — Turkey’s central bank delivered another massive interest rate cut Thursday despite eye-popping inflation above 80%, moving the opposite way from world economies that are raising rates to control prices as the lira sunk to record lows. The Central Bank of the Republic of Turkey lowered the benchmark rate by 1 percentage point,…
GENEVA (AP) — Switzerland’s central bank carried out the biggest hike ever to its key interest rate Thursday, following the U.S. Federal Reserve and other central banks around the world in aggressive moves to clamp down on inflation. The Swiss National Bank could not rule out that further increases beyond the rise of three-quarters of…
LONDON (AP) — The Bank of England raised its key interest rate Thursday by another half-percentage point to the highest level in 14 years, but despite facing inflation that outpaces other major economies, it avoided more aggressive hikes made by the U.S. Federal Reserve and other central banks. It is the Bank of England’s seventh…
BEIJING (AP) — Asian stocks fell for a third day Friday after more rate hikes by the Federal Reserve and other central banks to control persistent inflation spurred fears of a possible global recession. Shanghai, Hong Kong, Seoul and Sydney declined. Oil prices edged lower. Japanese markets were closed for a holiday. Wall Street’s benchmark…
DETROIT (AP) — Some Hyundai and Kia cars and SUVs are missing a “key” anti-theft device, and thieves know. An insurance industry group says these cars are stolen at nearly twice the rate of the rest of the auto industry because their keys lack computer chips for theft “immobilizer” systems. The thefts apparently started in…
WASHINGTON (AP) — The Federal Reserve delivered its bluntest reckoning Wednesday of what it will take to finally tame painfully high inflation: Slower growth, higher unemployment and potentially a recession. Speaking at a news conference, Chair Jerome Powell acknowledged what many economists have been saying for months: That the Fed’s goal of engineering a “soft…
NEW YORK (AP) — Home Depot workers in Philadelphia have filed a petition with the federal labor board to form what could be the first store-wide union at the world’s largest home improvement retailer. The petition, filed with the National Labor Relations Board this week, seeks to form a collective bargaining unit for 274 employees…
OMAHA, Neb. (AP) — A last-minute deal prevented a railroad strike for now, but many rail workers remain unhappy with working conditions, including some who protested outside their workplaces Wednesday ahead of votes to approve the new contracts. Handfuls of workers gathered outside railyards across the country in pickets organized by a newly formed workers…
NEW YORK (AP) — Bill Gates and Melinda French Gates combined characteristic optimism with sobering questions about persistent gender inequality and hunger at an event focused on reaching global development goals that the Gateses’ foundation convened on the sidelines of the U.N. General Assembly. Bill Gates again made the case for investments in agricultural technologies…
