FirstEnergy to host public conference call as New Jersey electric prices soar
TRENTON, NJ – With electric bills climbing across New Jersey, FirstEnergy Corp. announced it will host a public conference call to review its third-quarter financial results and address customer concerns. The call…
Malaysian firms facing U.S. bans over forced labour summoned by ministry
KUALA LUMPUR – Malaysia’s Human Resources Ministry said on Sunday it would call in all companies facing U.S. import bans over suspected forced labour practices to discuss immediate action to address the…
China Jan factory activity growth slows, demand wanes as COVID surges
BEIJING – Growth in China’s factory activity slowed in January as a resurgence of COVID-19 cases and tough lockdowns hit production and demand, but the slight expansion offered some signs of resilience…
China to strengthen anti-monopoly efforts in pharma industry
BEIJING – China will toughen law enforcement to curb monopoly practices and unfair competition in the pharmaceutical industry as the government seeks to foster a good business environment, the industry ministry said…
China’s Jan factory activity contracts as COVID lockdowns bite – Caixin PMI
BEIJING – China’s factory activity contracted at the sharpest rate in 23 months in January, underscoring the huge economic costs from the country’s zero-COVID approach as surging cases and tough containment measures…
Omicron slows UK growth to weakest since April – CBI
By David Milliken LONDON – British businesses grew at the slowest pace since April 2021 during the past three months, after demand for face-to-face services slumped due to the Omicron variant of…
Fed rate hike could be half-point if needed, says Raphael Bostic – FT
– The Federal Reserve could supersize an interest rate increase to half a percentage point if inflation remains stubbornly high, Atlanta Fed President Raphael Bostic told the Financial Times in an interview.…
Yellen to participate remotely in February G20 meeting
WASHINGTON – U.S. Treasury Secretary Janet Yellen will participate in a February meeting of the G20 remotely because of a rise in the Omicron variant of the coronavirus, the U.S. Treasury Department…
Argentine truckers stranded at Chilean border by slow COVID testing
– Thousands of truck drivers from Argentina were stuck at the Chilean border on Saturday due to slow COVID-19 testing, as Chile faced its second transport delay crisis. Since Jan. 21, more…
CVC co-founder Koltes to step down as firm gears up for bumper listing
By Pamela Barbaglia LONDON -CVC Capital Partners co-Chairman Steve Koltes will step down this year as Europe’s biggest buyout firm prepares for a stock market listing that a source familiar with the…
Erdogan says interest rates will be lowered and inflation will fall too
ANKARA – President Tayyip Erdogan repeated his unorthodox economic policy on Saturday, saying interest rates would be lowered further and inflation would fall as a result, days before inflation data for January…
Analysis-Aerospace firms brace for turbulence in Russian titanium supplies
By Mike Stone and Tim Hepher WASHINGTON/PARIS – Western aerospace companies have increased stocks of titanium and are scrambling to shore up supply chains in case the metal used widely in planemaking…
Italy rejects extradition of Venezuela’s ex-oil minister, says lawyer
ROME – Italy has rejected a request by Venezuela for the extradition of Rafael Ramirez, a once powerful oil minister and former head of state oil company Petroleos de Venezuela, his lawyer…
Australia seeks to join WTO talks on China-EU trade row
MELBOURNE -Australia will seek to be included in consultations about a trade dispute between the European Union and China launched by the EU at the World Trade Organisation, the Australian trade minister…
Myanmar economy to remain ‘severely tested’ by coup fallout – World Bank
– Myanmar’s economy will remain critically weak for much of 2022 and will be “severely tested” by the impacts of a coup a year ago, but there are recent signs of stabilisation…
Russian industry targeted, not consumers, if Biden export curbs imposed
By Karen Freifeld -The Biden administration plans to spare everyday Russians from the brunt of U.S. export controls if Russia invades Ukraine, https://www.reuters.com/world/europe/russian-buildup-ukraine-border-includes-blood-wounded-us-officials-say-2022-01-28 and focus on targeting industrial sectors, a White House…
Wall Street rallies, capping frenetic week with best day of the year
By Stephen Culp NEW YORK – Wall Street surged on Friday, notching its best day so far in 2022 after another zigzag session, ending a tumultuous week marked by mixed corporate earnings,…
U.S. House to take up bill next week on China competition, chips industry
By David Shepardson WASHINGTON -The U.S. House of Representatives will take up a bill next week aimed at increasing competitiveness with China and supporting the U.S. chip industry, including $52 billion to…
U.S. Senator Brown says ‘no question’ Biden’s Fed nominees qualified
NEW YORK – U.S. Senator Sherrod Brown on Friday said he met with President Joe Biden’s three latest nominees for the Federal Reserve board, calling them qualified and urging fellow lawmakers to…
U.S. Treasury weighs alternatives to ID.me after privacy concerns raised
By David Lawder WASHINGTON – The U.S. Treasury said on Friday it is considering alternatives to facial-recognition technology by commercial provider ID.me to verify identities for online taxpayer accounts after some lawmakers…
Union rejects pay offer in U.S. refinery worker contract talks -sources
By Erwin Seba HOUSTON -The United Steelworkers union (USW) rejected a pay increase offered by lead oil company negotiator Marathon Petroleum in talks for a new three-year agreement covering U.S. refinery workers,…
Goldman Sachs lifts CEO Solomon’s pay to $35 million
-Goldman Sachs Chief Executive Officer David Solomon’s total compensation for 2021 will be $35 million, the bank said on Friday. That is double the $17.5 million he received for 2020. The board…
U.S. lawmakers urge GM, Mexico to safeguard worker rights ahead of union vote
By David Shepardson and Daina Beth Solomon WASHINGTON – Three U.S. lawmakers on Friday urged General Motors and the Mexican government to safeguard worker rights ahead of a union vote next week…
Hewlett-Packard wins fraud case against UK tech tycoon Mike Lynch
By Paul Sandle and Kate Holton LONDON – A British judge found on Friday that tech tycoon Mike Lynch had masterminded an elaborate fraud to inflate the value of his company Autonomy…
U.S. airlines cancel almost 5,000 flights ahead of Nor’easter
By Rajesh Kumar Singh CHICAGO – U.S. carriers on Friday canceled thousands of flights through the weekend in anticipation of a winter storm forecast to bring high winds and heavy snow across…
Strong U.S. earnings lift global equities amid inflation, geopolitical concerns
By Katanga Johnson WASHINGTON – World stocks rallied on Friday as investors turned their eyes toward corporate earnings and ignored geopolitical turmoil and Federal Reserve tightening concerns. Strong earnings from tech firms…
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