Business News

By Hannah Lang and Herbert Lash NEW YORK -The dollar slid further on Wednesday and the euro extended gains following a hawkish shift from the European Central Bank last week …

By David Gaffen NEW YORK -Oil prices rallied on Wednesday after U.S. crude inventories dropped by nearly 5 million barrels and fuel demand rose to an all-time high, underscoring the …

By Ron Bousso and Nerijus Adomaitis LONDON – Consumers should brace for years of high energy prices, heads of top oil and gas companies said, in what would pile pressure …

ZURICH – Siemens has agreed to exit its Valeo Siemens eAutomotive joint venture in a deal which will boost the German company’s profits by around 300 million euros ($342.60 million), …

By Steven Scheer JERUSALEM -Teva Pharmaceutical Industries said on Wednesday it was bracing to pay as much as $3.6 billion in cash and medicine to settle thousands of lawsuits alleging …

ZURICH – Siemens has agreed to sell the mail and parcels business of Siemens Logistics business to German technology group Koerber for a purchase price of 1.15 billion euros ($1.31 …

The State of New York announced that its retirement fund would divest $238 million from companies that are “not prepared for net zero transition.” The state will divest from 21 …

By Ross Kerber BOSTON -New York’s state pension fund will sell $238 million worth of stock and debt it holds across 21 shale oil and gas companies including Chesapeake Energy …

– Volkswagen’s works council chief Daniela Cavallo said the carmaker must do more to understand the Chinese market in order to capture greater market share, after missing its electric vehicle …

By Jonnelle Marte -The Federal Reserve will have to move faster than it has in the past to remove accommodation and tame inflation that is well above target, but it …

By Julie Gordon and David Ljunggren OTTAWA -Canada’s economy does not need more stimulus, but rather more investment from both government and businesses to build up supply capacity to meet …

By Howard Schneider WASHINGTON – New data on Thursday is expected to show U.S. inflation still at multi-decade highs, but Federal Reserve officials are holding out hope that the peak …

By Valentina Za MILAN – Italian bank UniCredit plans to sell around 2 billion euros ($2.29 billion) in impaired debts to bad loan specialist Prelios after halting a process to …

BERLIN – Production at Tesla’s Berlin factory will not start until mid-March at the earliest, RBB reported on Wednesday. Tesla is still awaiting final approval from local authorities to begin …

By Diane Bartz WASHINGTON -Microsoft Corp on Wednesday announced a new set of principles for its app store, including open access to developers who meet privacy and security standards, as …

By Leroy Leo -CVS Health Corp on Wednesday said it expected a 70% to 80% drop in the number of COVID-19 vaccines its drugstores will administer this year and said …

By Nia Williams CALGARY, Alberta – The Canadian province of Alberta on Wednesday formally initiated a trade challenge to recover its investment in the Keystone XL oil pipeline, which was …

NEW YORK – It is time for the Federal Reserve to start removing accommodation and raising interest rates, but it is not necessary for the central bank to launch its …

– Dotdash Meredith, owned by media mogul Barry Diller’s IAC, has decided to stop publishing the print editions of six magazines including Entertainment Weekly and InStyle as part of a …

PARIS -Holiday spending in the U.S. and China helped L’Oreal beat growth expectations over the crucial end-of-year period as consumers splurged on beauty products. Fuelled by North America – the …

By Jan Lopatka and Robert Muller PRAGUE – Liquefied natural gas (LNG) shipments to Europe late last year showed Russia could not use gas as great leverage over Europe, and …

By John O’Donnell and Huw Jones FRANKFURT/LONDON – The European Central Bank is preparing banks for a possible Russian-sponsored cyber attack as tensions with Ukraine mount, two people with knowledge …

By David Shepardson WASHINGTON – The U.S. Transportation Department said on Wednesday Air China agreed to pay a $143,000 fine over excessive tarmac delays in 2018 at U.S. airports. The …

WASHINGTON -Legislation to tighten controls on U.S. lawmakers’ financial transactions, including possibly banning them from buying and selling stocks, could be put on a fast track toward passage, House of …

PARIS -Asset manager BlackRock crossed the 5% threshold in scandal-hit French elderly care home operator Orpea folllowing the purchase of shares on and off the market, stock market watchdog AMF …