IGHRAN, Morocco (AP) — The death of a 5-year-old boy trapped for days in the dark depths of a well symbolizes for many villagers a curse that haunts their remote mountainous region in northern Morocco: dirt poor, neglected and dependent on its illegal cannabis crop to survive. The well that swallowed Rayan was dug by…
By Brenna Hughes Neghaiwi ZURICH (Reuters) -Credit Suisse on Thursday capped a scandal-ridden year with a $2.2 billion quarterly loss and said 2022 earnings would be weighed down by restructuring and compensation costs. Though Switzerland’s second-biggest bank had flagged a large fourth-quarter loss, it was still steeper than expected with analysts pointing to slides in…
BEIJING (AP) — A Chinese real estate developer that is struggling under $310 billion in debt is promising to deliver 600,000 apartments this year, a newspaper reported Thursday, in a show of confidence it can avert collapse and resume normal business. Evergrande Group has left financial markets guessing at its status since the developer warned…
PARIS (AP) — Paris police on Thursday banned road blockades threatened by groups organizing online against COVID-19 restrictions, in part inspired by protesters in Canada. Citing “risks of trouble to public order,” the Paris police department banned protests aimed at “blocking the capital” from Friday through Monday. Police will put measures in place to protect…
A look at the day ahead in markets from Sujata Rao Markets are enjoying a respite of sorts. With 10-year Treasury yields down five basis points from recent highs, the Nasdaq has managed to rebound around 10% from late-January troughs. Europe’s STOXX 600 is opening higher after bumper earnings propelled the index to its best…
MOSCOW (AP) — A peace agreement for the separatist conflict in eastern Ukraine that has never quite ended is back in the spotlight amid a Russian military buildup near the country’s borders and rising tensions about whether Moscow will invade. Top officials from Russia, Ukraine, France and Germany are meeting Thursday in Berlin to discuss…
SACRAMENTO, Calif. (AP) — California sued Tesla Inc. on Wednesday over allegations of discrimination and harassment of Black employees at its San Francisco Bay area factory. The suit, filed in Alameda County Superior Court, was sparked by hundreds of worker complaints, said Kevin Kish, head of the state’s Department of Fair Employment and Housing. The…
OSLO (Reuters) – Norway’s largest bank DNB reported a 17% rise in fourth-quarter earnings on Thursday, as expected, and said the reopening of society from coronavirus lockdowns has been a boost to Norwegian businesses. DNB’s net profit rose to 6.16 billion Norwegian crowns ($697.9 million) for October-December from 5.27 billion crowns a year ago, in…
BANGKOK (AP) — Shares were mostly lower Friday in Asia after a sell-off on Wall Street spurred by news that U.S. inflation jumped 7.5% in January, which raised expectations the Federal Reserve will need to move forcefully to cool the economy by raising interest rates. The hottest inflation reading since 1982 sent the S&P 500…
By Kevin Buckland TOKYO (Reuters) – A tech-fuelled global stocks rally cooled in Asia on Thursday as investors took a more cautious posture amid uncertainties around the outlook for inflation and interest rates. World bond yields continued to ease from multi-year highs and the dollar trod water ahead of the closely watched U.S. inflation report…
