Sri Lanka’s apparel sector struggles with rolling power cuts
By Uditha Jayasinghe COLOMBO – Indika Prasanna Kumara ventures out every afternoon to try to find 200 litres of diesel for the Broadway Kids apparel factory in Sri Lanka so…
By Uditha Jayasinghe COLOMBO – Indika Prasanna Kumara ventures out every afternoon to try to find 200 litres of diesel for the Broadway Kids apparel factory in Sri Lanka so…
By Davide Barbuscia NEW YORK – Goldman Sachs Asset Management has reduced the Russian exposure in its GQG international equity fund to about $222 million, according to a statement and…
By Huw Jones and Tommy Wilkes LONDON – Britain will ban Russian companies from London’s multi-billion dollar aviation and space insurance market, the latest restrictions Western allies are imposing to…
HAMBURG – Europe’s largest carmaker Volkswagen on Tuesday warned of production cuts at some of its plants including the one in Wolfsburg as Ukraine-based suppliers have been facing difficulties delivering…
SAN FRANCISCO – Luxury electric car maker Lucid Group on Monday revised down its production forecast for this year due to “extraordinary supply chain and logistics challenges,” knocking its shares…
MOSCOW – Russia’s finance ministry said on Saturday that the sovereign rating cut by Standard and Poor’s and a move to review the country’s rating by Moody’s were linked to…
LONDON – Sustainability ratings agency Standard Ethics said on Thursday it had downgraded the rating of the Russian Federation after it invaded Ukraine. Standard Ethics, which grades companies and governments…
-JPMorgan analysts downgraded Russian equities to “neutral” from “overweight” on Tuesday, after Moscow sent troops to two breakaway regions in eastern Ukraine after recognising them as independent. President Vladimir Putin’s…
By Rajesh Kumar Singh CHICAGO – American Airlines Group Inc said on Friday it plans to further trim its summer schedule due to Boeing Co’s delay in delivering 787 Dreamliner…
By Andrius Sytas – Lithuania’s central bank has told the country’s banks to prepare for power cuts and cyberattacks as Russia’s standoff with Ukraine risks spilling over into a military…
By Svea Herbst-Bayliss BOSTON – Trian Fund Management, the activist investment firm run by Nelson Peltz, said in a regulatory filing on Monday it has slashed holdings in consumer staples…
DETROIT – Ford Motor Co said on Monday it will continue idling some of its assembly plants in the week of Feb. 14 due to the global semiconductor shortage. The…
– Goldman Sachs has tempered its outlook for the S&P 500 index, expecting it to stay below the 5,000 mark this year as rising inflation threatens to derail a nascent…
By David Shepardson WASHINGTON -Toyota Motor Corp, Ford Motor Co and General Motors Co, said Friday the disruption at the Canadian border from trucking protests forced new production cuts at…
By Jan Strupczewski BRUSSELS – Euro zone economic growth will be slower than earlier expected this year because of a new wave of COVID-19 infections, high energy prices and continued…
By Josh Smith SEOUL – The COVAX global COVID-19 vaccine-sharing programme has scaled back the number of doses allocated for North Korea, international aid organisations said, as the country has…
By Timothy Gardner WASHINGTON – The U.S. Army released its first climate strategy on Tuesday designed to help protect bases against damage from global warming and improve readiness by training…
Peloton co-founder and chief executive John Foley will step down as the company plans to cut thousands of jobs after slowing demand caused a significant decrease in the bike manufacturer’s…
The flow of natural gas through a key Russian-controlled pipeline suddenly stopped Wednesday as tensions continue to increase between Russia and the West. The Yamal-Europe pipeline’s liquified natural gas (LNG)…
NEW YORK – Goldman Sachs cut its GDP forecast in 2022 to 3.2% from a consensus 3.8% as U.S. growth is likely to slow abruptly early in the year as…
By Valentina Za MILAN -Italian lender UniCredit has signed an agreement with unions for 1,200 voluntary job cuts to be partly offset by 725 new hires, the country’s biggest banking…
– Unilever unveiled plans on Tuesday to cut about 1,500 management jobs in an overhaul aimed at easing shareholders’ concerns after a failed acquisition and news an activist investor had…
By Edmund Blair and Laila Bassam BEIRUT – Lebanese school teacher Sara Wissam and her husband were comfortably off before a run on the local currency decimated the value of…
As millions of families across the country grapple with the fact that the expanded child tax credit could lapse for months, if not permanently, those in few states stand to…
European natural gas prices hit an all-time high Tuesday after Russia suddenly reversed flows through a key pipeline transporting gas to Germany. The Dutch natural gas calendar, the benchmark European…