Business
Latest stories
Ghosn says $1B lawsuit against Nissan is reasonable given his suffering after arrest

Carlos Ghosn has said that the $1 billion lawsuit he recently filed against Nissan and others is just the beginning of his fight.

The former Nissan CEO said during an interview with The Associated Press in Beirut that had he been an American citizen filing a lawsuit in the United States, "I would not be asking for $1 billion, but for much more," given his suffering.

W140 Full Story
Qatar sovereign wealth fund buys stake in Washington's NBA, NHL and WNBA teams

Qatar's sovereign wealth fund is buying a roughly 5% stake in the parent company of the NBA's Washington Wizards, NHL's Washington Capitals and WNBA's Washington Mystics as part of a $4.05 billion deal, a person with knowledge of the sale said Thursday.

W140 Full Story
Inflation, economic crises strain pilgrims in this year's Hajj, putting it out of reach for some

Saudi Arabia is hosting its biggest Hajj pilgrimage in three years, starting Monday. But for many pilgrims, and for many others who couldn't make it, global inflation and economic crises made it more of a strain to carry out Islam's spiritual trip of a lifetime.

Mohammed, a university professor in the Egyptian capital Cairo, said it was an annual tradition for him to apply to go on Hajj. But not this time.

W140 Full Story
German MPs approve plan to attract skilled workers to plug country's labor gap

Germany's parliament on Friday approved plans to attract more skilled workers to Europe's biggest economy and help address labor shortages in a growing number of professions.

Lawmakers voted 388-234 in favor of the legislation, with 31 abstentions. It foresees a "points system" taking into account professional experience and other factors, along the lines of systems already used by countries such as Canada. It will ease entry rules for information technology specialists who lack university degrees but have other qualifications.

W140 Full Story
US has tons of leftover food. Upcycling seeks to turn would-be trash into ice cream, pizza

At Tyler Malek's ice cream parlors, one cook's trash is another chef's frosty treat.

W140 Full Story
Hollywood writers at rally say they'll win as strike reaches 50 days

Fifty days into a strike with no end in sight, about 1,000 Hollywood writers and their supporters marched and rallied in Los Angeles for a new contract with studios that includes payment guarantees and job security.

Speakers at the Writers Guild of America's WGA Strong March and Rally for a Fair Contract on Wednesday emphasized the broad support for their cause shown by other Hollywood unions — including actors in their own contract negotiations — and labor at large.

W140 Full Story
Macron calls for massive investment to respond to climate emergency, poverty

French President Emmanuel Macron called Thursday for concrete solutions and massive investment for developing countries at the start of a two-day summit aimed at seeking better responses to tackle poverty and climate change issues by reshaping the global financial system.

Speaking in Paris, Macron said no country should have to choose between "reducing poverty or protecting the planet."

W140 Full Story
Bank of England set to hike rates to battle inflation

The Bank of England is poised to raise borrowing costs again on Thursday to combat stubbornly high inflation, which has failed to come down from its peak as quickly as expected.

Though the consensus among analysts is that the central bank will raise its main interest rate by a quarter-percentage point — hitting a new 15-year high of 4.75% — there are concerns, certainly among borrowers, that it may opt for a bigger half-point increase.

W140 Full Story
Turkey faces key test on economic turnaround after Erdogan's reelection

The Turkish central bank faces a key test Thursday on turning to more conventional economic policies to counter sky-high inflation after newly reelected President Recep Tayyip Erdogan gave mixed signals about an approach that many blame for worsening a cost-of-living crisis.

It is the bank's closely watched first interest rate-setting meeting since the longtime leader named internationally respected officials to head the bank and the finance ministry. While a sharp rate hike is expected, it's not clear if it will be enough to ease market concerns.

W140 Full Story
Paris summit aims to shake up financial system, test leaders' resolve on climate

Heads of state, finance leaders and activists from around the world will converge in Paris this week to seek ways to overhaul the world's development banks — like the International Monetary Fund and World Bank — and help them weather a warmer and stormier world.

While restructuring debt and reducing poverty will be part of the summit Thursday and Friday, climate will be the main driver, with representatives from developing nations in Africa, Asia and elsewhere having a prominent seat at the table.

W140 Full Story