GENEVA (AP) — An annual report from the United Nations labor agency Friday highlighted the work conditions of Uyghurs and other Muslim minorities in China’s Xinjiang region, noting signs of “coercive measures” that deprive workers of free choice in selecting jobs. It also called on Beijing to provide more information about how it’s respecting their…
STOCKHOLM (Reuters) – Software giant Oracle’s title sponsorship agreement with the Red Bull Formula One team is worth about $300 million over five years, according to sources familiar with the deal. The new deal was signed on Wednesday between Oracle and Formula One champion Max Verstappen’s team and will see it renamed Oracle Red Bull…
HONG KONG (Reuters) -Shares of Chinese property developers climbed on Friday, following media reports that the sector is gaining easier access to presale proceeds from residential projects – the latest move by authorities to ease the industry’s severe cash crunch. Regulatory curbs on borrowing have driven China’s property sector into a liquidity crisis, highlighted by…
By Helena Soderpalm STOCKHOLM (Reuters) – Volvo Cars on Friday posted fourth-quarter earnings below expectations pressured by global supply shortages despite strong demand for its vehicles. Profits at the carmaker, which listed on Nasdaq Stockholm in October, were also dented by raw material costs and accounting changes at EV venture Polestar, in which it owns…
NEW YORK (AP) — Several conservative media figures in the U.S. have taken up the cause of Canadian truckers who have occupied parts of Ottawa and blocked border crossings to protest COVID-19 restrictions and vaccine mandates. Fox News Channel’s Sean Hannity cheered the truckers on while showing four live reports from Ottawa this week. Tucker…
By Foo Yun Chee BRUSSELS (Reuters) – Alphabet unit Google on Friday became the target of an antitrust complaint by the European Publishers Council over its digital advertising business, which could potentially strengthen EU antitrust chief Margrethe Vestager’s investigation into the issue. Google made $147 billion in revenue from online ads in 2020, more than…
ISTANBUL (AP) — Mehmet Bogday says his jaw dropped when he saw his electricity bill — it was higher than the rent he pays for his Istanbul restaurant selling traditional Turkish wraps, and more than double what he paid a month ago. “This is unsustainable,” said Bogday, who owns the Asmali Mescit Durumcusu restaurant. “If…
A look at the day ahead in markets from Dhara Ranasinghe. An aggressive 50 basis point U.S. interest rate hike to contain inflation now appears like a no-brainer after the hottest inflation reading in nearly 40 years. St. Louis Federal Reserve President James Bullard said Thursday’s data, with its 7.5% headline inflation print, made him…
LONDON (Reuters) – British American Tobacco on Wednesday reported a 7% rise in fourth-quarter adjusted revenue to $25.7 billion as as more people shifted over to e-cigarettes and oral nicotine amid health concerns during the pandemic. The world’s second-largest tobacco company also announced a dividend increase of 1.0% to 217.8 pence and a £2 billion…
NEW YORK (AP) — Stocks tumbled again Friday, and this time bond yields joined in the swoon as worries about an imminent Russian invasion of Ukraine piled onto Wall Street’s already heavy list of concerns about inflation and interest rates. The S&P 500 lost 1.9% after the White House encouraged all U.S. citizens to leave…
