Financial News

WASHINGTON – U.S. President Joe Biden will propose a minimum tax on billionaires as part of the fiscal 2023 budget that is expected to be unveiled on Monday, a document …

ZURICH – Zurich Insurance has removed its Z logo from social media after the letter became a symbol of support in Russia for Moscow’s invasion of Ukraine. The company said …

By David Shepardson WASHINGTON – The Biden administration on Saturday named the Federal Aviation Administration’s (FAA) safety chief as the acting leader of the agency effective Friday. Billy Nolen, who …

BERLIN – The European Central Bank does not expect the war in Ukraine to push the euro zone into stagflation even if it does push up inflation due to higher …

– Uber Technologies Inc said on Saturday it has received permission to operate in London under a new 30-month license, ending a years-long battle with the city transport regulator over …

By Joe Bavier JOHANNESBURG – The African Development Bank (AfDB) is aiming to raise $1 billion to rapidly ramp up agricultural production in Africa and stave off a potential food …

ZURICH -The Swiss National Bank believes the Swiss franc’s rise above parity versus the euro is unlikely to have a significant impact economically, Chairman Thomas Jordan said in an interview …

BERLIN – The European Union recovery fund set up to help the bloc recover from the COVID-19 pandemic could be repurposed in light of the war in Ukraine, German Finance …

-The Russian central bank said on Saturday that the Moscow Exchange will resume trading on Monday, with Russian shares and bonds in normal mode, albeit for half a day. It …

DOHA -A delegation from the International Monetary Fund will start talks in Lebanon on March 29, Prime Minister Najib Mikati said on Saturday, expressing hope of a deal in the …

ISTANBUL – Turkey’s current account deficit is expected to rise to $32 billion or 4.0% of GDP this year, more than the 2.5% previously forecast, Goldman Sachs said, citing rising …

– Russian state-owned energy giant Gazprom said on Saturday that it was continuing to supply natural gas to Europe via Ukraine in line with requests from European consumers. The company …

By Anthony Esposito ACAPULCO, Mexico – The Bank of Mexico does not need to strictly track the U.S. Federal Reserve’s expected interest rates hike path and can tighten monetary policy …

By David Shepardson and Raphael Satter WASHINGTON -The Federal Communications Commission (FCC) on Friday added Russia’s AO Kaspersky Lab, China Telecom (Americas) Corp and China Mobile International USA to its …

By Caroline Valetkevitch NEW YORK – The S&P 500 ended higher on Friday as financial shares rose after the benchmark Treasury yield jumped to its highest level in nearly three …

By Jorgelina do Rosario and Rodrigo Campos LONDON/NEW YORK – The board of the International Monetary Fund approved on Friday a new program with Argentina for about $44 billion, the …

By Akanksha Khushi and Krystal Hu -Instacart Inc on late Thursday cut its valuation by nearly 40% to about $24 billion due to recent market turbulence, in an unusual move …

– Fitch said on Friday it has withdrawn Russia’s ratings to comply with European Union sanctions, after the rating agency downgraded the country’s rating to “junk” territory earlier this month. …

By Jonathan Stempel NEW YORK – New York’s public pension fund, one of the largest pension funds in the United States, will divest its holdings in Russian companies following Russia’s …

By Andrea Shalal WASHINGTON – The United States is done “sitting on its hands” and will more actively pressure China, the world’s second largest economy, to change trade practices that …

By Lawrence Delevingne -Shares on Wall Street took a breather on Friday after a tech-driven rally and U.S. Treasury yields rose to fresh heights as markets evaluated a world of …

By Sarah McFarlane and Mark John LONDON – The world may be less dependent on oil now than it was during the energy shocks of the 1970s, but the Ukraine …

By David Randall NEW YORK – Side-by-side declines in U.S. equity and fixed income markets are pushing investors into cash, commodities and dividend-paying stocks as geopolitical uncertainty and worries over …

BERLIN – German business morale plummeted in March as companies worried about rising energy prices, driver shortages and the stability of supply chains in the wake of the war in …

By Chuck Mikolajczak NEW YORK – The dollar edged higher against a basket of major currencies on Friday, putting it on track for a third straight day of gains, as …