Category Archives: Economy
FDA chief struggles to explain slow response on baby formula
WASHINGTON (AP) — The head of the Food and Drug Administration faced bipartisan fury from House lawmakers Wednesday over months of delays investigating problems at the nation's largest baby formula plant that prompted an ongoing shortage.
Live updates | Russia-Ukraine War
The Russian Defense Ministry is promising to open a safe corridor to allow foreign ships to leave Black Sea ports. A separate corridor will be open to allow ships to leave Mariupol by sailing from the port on the Sea
Russia says it will pay foreign debt in rubles after US ban
Russia says it will pay dollar-denominated foreign debt in rubles, a move that is likely to be seen by foreign investors as a default. The U.S. Treasury
UK’s Johnson faulted for lockdown parties but won’t quit
LONDON (AP) — An investigative report released Wednesday blamed British Prime Minister Boris Johnson and other senior leaders for allowing boozy government parties that broke the U.K.’s COVID-19 lockdown rules, and while Johnson said he took “full resp...
Turkey demands ‘concrete steps’ to back Nordics’ NATO bids
ANKARA, Turkey (AP) — A senior Turkish official insisted after talks with Swedish and Finnish officials Wednesday that Turkey would not agree to the two Nordic countries joining NATO unless specific steps are taken to address Ankara's objections.
Russia takes steps to bolster army, tighten grip on Ukraine
KYIV, Ukraine (AP) — Russian President Vladimir Putin issued an order Wednesday to fast track Russian citizenship for residents of parts of southern Ukraine largely held by his forces, while lawmakers in Moscow passed a bill to strengthen the stretched...
Davos gathering overshadowed by global economic worries
DAVOS, Switzerland (AP) — Soaring inflation. Russia’s war in Ukraine. Squeezed supply chains. The threat of food insecurity around the world. The lingering COVID-19 pandemic. The risks
Hungary proposes removing Russian oil embargo from EU agenda
BUDAPEST, Hungary (AP) — European Union efforts to impose an embargo on Russian oil faced more roadblocks Wednesday as Hungarian officials said they would not back the plan in its current form and recommended removing the topic from the agenda
China wants 10 Pacific nations to endorse sweeping agreement
WELLINGTON, New Zealand (AP) — China wants 10 small Pacific nations to endorse a sweeping agreement covering everything from security to fisheries in what one leader warns is a “game-changing” bid by Beijing to wrest control of the region.
Glencore pays up to $1.5B to resolve corruption claims
BERLIN (AP) — Commodities firm Glencore says it has reached deals with authorities in the United States, Britain and Brazil to resolve corruption allegations in return for penalties totaling up to $1.5 billion.
