Asian markets mostly fell Friday, winding back some of the previous day's rally, as traders come to terms with the likelihood that central banks will continue to raise interest rates to battle runaway inflation.. "There are going to be headwinds for the markets until we get some resolution on how far the Fed is going to go and how long they're going to raise interest rates," he said.
Newly married and with his first child on the way, auto worker Wang wanted to move into the apartment he bought in Wuhan three years ago but those hopes were dashed by China's ballooning property crisis.. "But no workers showed up."
Electric automaker Rivian on Thursday said its losses had nearly tripled to $1.7 billion in the second quarter, but that it is on the road to meeting production goals.. Rivian blamed its losses on investments in people and technology, along with auto production lines capable of cranking out lots of cars running at low capacity.
US Attorney General Merrick Garland said Thursday that he had "personally approved" the search of Donald Trump's Florida home, and condemned "unfounded attacks" on the FBI following the unprecedented action against an ex-president.. Garland criticized "unfounded attacks on the professionalism of the FBI and Justice Department agents and prosecutors."
Ethiopia kickstarted electricity production from the second turbine at its controversial mega-dam on the Blue Nile on Thursday, despite continuing objections by Egypt and Sudan over the project.. The 145-metre (475-foot) high structure straddles the Blue Nile in the Benishangul-Gumuz region of western Ethiopia, near the border with Sudan.
Iraq has agreed to renew a one-year deal to provide Lebanon with fuel for its power plants in exchange for in-kind services, Lebanon's Prime Minister said in a statement Thursday.. For the past year, Lebanon's power plants have depended on the deal with Iraq to produce one to two hours of electricity per day.
Peruvian prosecutors have opened a sixth criminal investigation into President Pedro Castillo for alleged corruption involving government tenders, officials said Thursday.. The group is accused of participating in a network of corruption and money laundering that prosecutors allege was headed by the Peruvian president.
It's not too late for a road trip: The US average price of gasoline at the pump has finally fallen below $4.00 a gallon, providing a bit of relief for Americans struck by massive inflation at almost every turn.. Falling global oil prices in recent weeks, however, caused that average to fall to $3.99 Thursday -- the first time below $4.00 since early March.
McDonald's announced plans Thursday for a "phased" partial reopening of restaurants in Ukraine, where operations have been shuttered since February due to the Russian invasion.. McDonald's suspended its operations in Ukraine on February 24 following the Russian siege of the country.
A hot, dry July made worse by climate change has raised the risk that the German economy could run aground as sinking Rhine waters make shipping along the river harder.. Further up the river in Kaub, a noted bottleneck for shipping where the Rhine runs narrow and shallow, the reference level is forecast to go below 40 centimetres by the end of the week and squeeze traffic further.
