Category Archives: Economy
Former VW boss to pay firm $13 million over diesel scandal
FRANKFURT, Germany (AP) — Former Volkswagen CEO Martin Winterkorn has agreed to pay 11.2 million euros ($13.6 million) in compensation for what the company called his failure to quickly get to the bottom of the 2015 scandal over diesel engines
Billionaire philanthropist: vaccine hoarding hurts Africa
KAMPALA, Uganda (AP) — Billionaire philanthropist Mo Ibrahim is sharply criticizing the hoarding of COVID-19 vaccines by wealthy nations, urging the international community to “walk the talk" of equitable distribution as Africa desperately lags behind....
UK court rules government acted unlawfully in contract award
LONDON (AP) — Britain's High Court ruled Wednesday that the U.K. government acted unlawfully in awarding a contract to a company run by friends of the former top adviser to Prime Minister Boris Johnson.
EU launches proceedings over top German court’s ECB ruling
BERLIN (AP) — The European Union on Wednesday launched proceedings against Germany over a ruling by the top German court last year on a European Central Bank bond-buying program that broke with a verdict from the EU's own top court.
Fastly blames global internet outage on software bug
LONDON (AP) — Fastly, the company hit by a major outage that caused many of the world's top websites to go offline briefly this week, blamed the problem on a software bug that was triggered when a customer changed a
Europe’s stimulus likely to keep running as economies reopen
FRANKFURT, Germany (AP) — The European Central Bank is expected to leave its stimulus efforts running at full steam Thursday — even as the economy shows signs of recovery thanks to the easing of pandemic restrictions.
EU court annuls approval of aid for German airline Condor
BERLIN (AP) — A top European Union court on Wednesday annulled the EU's approval of 550 million euros ($670 million) in state aid for German airline Condor, backing a challenge by budget carrier Ryanair but suspending the application of the
Soviet-made jet crashes; Bulgarian air force pilot missing
SOFIA, Bulgaria (AP) — A Soviet-built MiG-29 fighter jet from Bulgaria's air force crashed into the Black Sea during a military exercise and the pilot is missing, the Bulgarian Defense Ministry said Wednesday.
EU warns of retaliation as post-Brexit talks with U.K. stall
LONDON (AP) — A top European Union official said Wednesday that Britain could face retaliatory tariffs or other sanctions after talks failed to resolve an increasingly heated dispute over implementation of their post-Brexit trade deal in Northern Irela...
China denounces US bill aimed at boosting competitiveness
BEIJING (AP) — Beijing has denounced a U.S. bill aimed at boosting U.S. technology to improve American competitiveness, calling it a thinly veiled attack on China’s political system and an attempt to hinder its development.
