Germany has reached a deal to nationalise troubled gas giant Uniper, the government said Wednesday, as the energy sector reels from the fallout of Russia's war in Ukraine.. Russia's war in Ukraine has triggered an earthquake on European energy markets, cranked up the pressure on suppliers and raised fears of possible shortages over the winter.
The Federal Reserve is poised to roll out another big increase in interest rates Wednesday as it tries to cool the economy to tamp down the highest inflation in 40 years, but recession fears are rising.. Federal Reserve Chair Jerome Powell has made it clear that officials will continue to act aggressively to cool the economy and avoid a repeat of the 1970s and early 1980s, the last time US inflation got out of control.
China's "inflexible" and "inconsistent" zero-Covid policy is crippling European business operations in the country, a major business lobby said Wednesday, warning that the presence of the companies "can no longer be taken for granted".. "China's business environment will remain unpredictable as long as the threat of lockdowns exists," the organisation said, calling Xi's flagship policy "inflexible and inconsistently implemented" and cautioning that ideology seemed to be "trumping the economy".
Asian markets resumed their downward spiral Wednesday after a brief respite the previous day, as traders prepared for what many expect to be a third successive jumbo interest rate hike by the Federal Reserve.. In light of that -- as well as the Ukraine war and rate hikes -- the Asian Development Bank on Wednesday cut its 2022 growth forecast for developing Asia and warned of "global headwinds" to the recovery.
A federal judge has allowed a discrimination lawsuit to proceed that argues that McDonald's refuses to advertise on Black-owned media networks.. Following a legal back-and-forth, the same judge on Friday denied a request by McDonald's to dismiss the case, thereby allowing it to proceed.
A commercial plane photoshopped with the tail of a shark, hashtags that misleadingly evoke sustainability, tokenistic use of minorities to distract and to signal virtue: a Harvard report published Tuesday highlights rampant greenwashing by leading companies on social media.. Examples of greenwashing include an Instagram post by Lufthansa where a plane blends into the body of a shark swimming in the ocean.
The European Central Bank is determined to stop soaring inflation becoming the norm, its president said Tuesday, as the coronavirus pandemic and the Russian invasion of Ukraine put lasting pressure on prices.. Soaring inflation rates were driven by the economic shocks of the coronavirus pandemic and the Russian invasion of Ukraine, which has sent the price of energy soaring, Lagarde said.
World powers met Tuesday at the United Nations on how to address rising food insecurity, with dire warnings of a devastating harvest next year due to the war in Ukraine.. "There's one or two harvests per year, and already we're seeing that it's going to be devastating for next year," he told AFP, warning that the impact could be "much worse" than Covid.
US rental car giant Hertz will buy up to 175,000 electric vehicles from General Motors by the end of 2027, the companies announced Tuesday, as the auto industry grapples with concerns over climate change and petroleum dependency.. Subsequent purchases will depend on how fast General Motors (GM) ramps up production of electric vehicles.
US central bankers opened their two-day policy meeting on Tuesday with another steep interest rate hike seen as a near certainty amid stubbornly high inflation.. Markets have been roiled in recent days by the decidedly hawkish statements from central bankers, and Powell's press conference after the meeting will be closely scrutinized for information on what he thinks the next steps will be.
