WASHINGTON (Reuters) – Governments across the world should beef up their insolvency systems and prepare to restructure or liquidate badly scarred firms as they withdraw massive support provided during the height of the COVID-19 crisis, the IMF said in a new blog. The International Monetary Fund said corporate debt reached $83 trillion, or 98% of…
GENEVA (AP) — The World Health Organization is creating a global training center to help poorer countries make vaccines, antibodies and cancer treatments using the messenger RNA technology that has successfully been used to make COVID-19 vaccines. At a press briefing in Geneva on Wednesday, WHO Director-General Tedros Adhanom Ghebreyesus said the new hub will…
LONDON (AP) — Britain promised to hit Russia with “powerful” sanctions over its military confrontation with Ukraine. But the slim sheaf of measures announced by Prime Minister Boris Johnson has disappointed allies and critics alike. The U.K. has slapped asset freezes and travel bans on three wealthy Russians and sanctioned five Russian banks in response…
WASHINGTON (Reuters) – U.S. regulators are warning that 5G wireless operations could affect radio altimeters in most Boeing 737 aircraft and impact crew workload and airplane landings, according to a government notice posted online on Wednesday. The Federal Aviation Administration’s directive affects Boeing’s 737s, except its 200 and 200-c series, the Federal Register notice said….
By Giulio Piovaccari and Gilles Guillaume MILAN (Reuters) – Stellantis beat its profitability target in the first year following its creation from the merger of Fiat Chrysler and Peugeot maker PSA, boosting hopes the automaker can cope with rising raw material costs and a shortage of semiconductor chips. Milan-listed shares in the world’s No.4 carmaker…
It isn’t hard to see that the writing is on the wall for the V8-powered performance coupe. Tightening fuel economy and emissions standards, rising gas prices and the arrival of performance-oriented electric vehicles all point to the end of this famous automotive recipe. When the end will come, we don’t know exactly. But even Dodge…
By Victoria Waldersee BERLIN (Reuters) – Tesla may lose the water supply contract for its long-delayed German plant if environmental groups win a court case challenging a licence granted to its water supplier at a hearing next week. The Frankfurt Oder administrative court will hear on March 4 a complaint filed by local groups claiming…
By Rowena Edwards LONDON (Reuters) – Oil prices on Wednesday fell from seven-year highs hit the previous day after a first wave of U.S. and European sanctions on Russia appeared unlikely to disrupt oil supplies. Brent crude was down 27 cents, or 0.2%, to $96.57 a barrel at 1247 GMT, after hitting $99.50 on Tuesday,…
BRUSSELS (Reuters) – Amazon, Microsoft, other cloud services providers and data processing service providers will have to adopt safeguards to prevent non-EU governments gain illegal access to EU data, according to European Commission draft rules. The Data Act, published on Wednesday, lays out rights and obligations on the use of data from consumers and companies…
LONDON (Reuters) – Britain is ready to guarantee up to $500 million (367.62 million pounds) in loans to support Ukraine and help mitigate the economic effects of Russian aggression, the foreign office said on Wednesday. Britain is offering guarantees of Multilateral Development Bank lending for projects that will support economic stability and reforms such as…
