Business
Latest stories
UK follows US with sanctions on Moscow stock exchange

The UK announced Thursday dozens of new sanctions aimed at constraining Russia's war in Ukraine, including targeting Moscow's main stock exchange, a day after Washington announced similar measures.

London said the 50 new curbs -- part of "co-ordinated action with G7 partners" as the Western-led bloc's leaders meet in Italy -- will hit the Russian financial system and suppliers supporting its military production.

W140 Full Story
Thefts of charging cables pose yet another obstacle to appeal of electric vehicles

Just before 2 a.m. on a chilly April night in Seattle, a Chevrolet Silverado pickup stopped at an electric vehicle charging station on the edge of a shopping center parking lot.

Two men, one with a light strapped to his head, got out. A security camera recorded them pulling out bolt cutters. One man snipped several charging cables; the other loaded them into the truck. In under 2½ minutes, they were gone.

W140 Full Story
Cars? Pork? Perfume? China has many options if a trade war breaks out with Europe

Now that Europe has announced tariffs on China-made electric cars, the continent is bracing to see if the other shoe drops.

Will China retaliate with tariffs on European cars, taking aim at Germany's BMW and Mercedes? Would it put tariffs on agricultural products, targeting Europe's politically influential farmers? Or luxury goods from Italy and France?

W140 Full Story
Future of Musk and Tesla on the line as shareholders vote on massive pay package

If Tesla shareholders approve an all-stock compensation package for CEO Elon Musk that was thrown out this year by a Delaware judge, it would almost guarantee he would remain at the company he grew to be the world leader in electric vehicles, shifting to AI and robotics including autonomous vehicles, which Musk says is Tesla's future.

If Tesla shareholders vote against restoring Elon Musk's $44.9 billion pay package Thursday, the CEO could deliver on threats to take artificial intelligence research to one of his other companies. Or he could even walk away.

W140 Full Story
World Bank approves a $1 billion loan for Pakistan's key hydropower project

The World Bank said Tuesday it has approved $1 billion for the construction of Pakistan's biggest Dasu hydropower project, which is being built in the country's northwest with China's help.

The loan would be used to expand the hydropower electricity supply and improve access for local communities, the bank said in a statement.

W140 Full Story
World stocks mixed ahead of this week's US Federal Reserve meeting

World shares were mixed on Tuesday in a busy week that will bring several top-tier reports on U.S. inflation along with a policy meeting of the Federal Reserve.

The future for the S&P 500 shed 0.1% and that for the Dow Jones Industrial Average was down 0.2%.

W140 Full Story
US gas prices fall as experts point to mild demand ahead of summer travel

Gas prices are once again on the decline across the U.S., bringing some relief to drivers now paying a little less to fill up their tanks.

The national average for gas prices on Monday stood around $3.44, according to AAA. That's down about 9 cents from a week ago — marking the largest one-week drop recorded by the motor club so far in 2024. Monday's average was also more than 19 cents less than it was a month ago and over 14 cents below the level seen this time last year.

W140 Full Story
Tourism buoys southern Europe's 'Club Med' nations

Derided as "Club Med" nations during the European debt crisis 15 years ago, the economies of Spain, Greece and Portugal are now outperforming their northern peers thanks to a rebound in tourism.

W140 Full Story
Saudi Aramco says foreigners grab 'majority' of share offering

Oil giant Saudi Aramco said Sunday that international investors had snatched up the bulk of shares sold in its latest offering, which was set to raise $11.2 billion.

The secondary offering was expected to provide a short-term boost to Saudi Arabia's finances as the Gulf kingdom builds large-scale projects including resorts and stadiums, part of a reform drive to prepare for an eventual post-oil future.

W140 Full Story
Japan's economy is shrinking, although slightly less than previously thought

The Japanese economy shrank at an annual rate of 1.8% in the first quarter of this year, slightly better than the initial estimate at a 2.0% contraction, according to revised government data Monday.

The revision was due to private sector investments, at minus 0.4%, up from the previous minus 0.5%.

W140 Full Story