The European Central Bank said Thursday that it will speed up ending its economic stimulus programs to combat record inflation, even as concerns mount about the impact of Russia's war in Ukraine on economic growth.

The bank said it will end its bond purchases in the third quarter but could modify that schedule if the inflation outlook changes. Previously, it said it would taper them off to 20 billion euros per month by the last three months of the year and continue them as long as needed.

China is easing government exchange rate controls to let the Russian ruble fall faster in value against the Chinese yuan to help insulate Beijing from economic sanctions on Moscow.

The margin by which the ruble is allowed to fluctuate against the yuan in state-controlled daily trading will be doubled in size to 10% above or below the day's opening price starting Friday, the China Foreign Exchange Trade System announced.

Western sanctions are dealing a severe blow to Russia's economy. The ruble is plunging, foreign businesses are fleeing and sharply higher prices are in the offing. Familiar products may disappear from stores, and middle-class achievements like foreign vacations are in doubt.

Beyond the short-term pain, Russia's economy will likely see a deepening of the stagnation that started to set in long before the invasion of Ukraine.

Pressure is building on the Biden administration to begin unwinding sanctions on Venezuela after President Nicolas Maduro freed two American prisoners and promised to resume negotiations with his opponents.

Maduro's goodwill gesture came during a weekend trip to Caracas by senior White House and State Department officials that caught off guard Maduro's friends and foes alike.

German fashion brand Hugo Boss and U.S. hotel chain Hilton are the latest brands to pause their Russian businesses over the Ukraine invasion.

Hugo Boss said Thursday that it has temporarily closed its stores and suspended its own retail and e-commerce business activities in Russia. The company said it will give all affected employees “financial and operational support.”

Two Americans imprisoned in Japan for helping former Nissan Chairman Carlos Ghosn avoid trial and escape to Lebanon are hoping to serve the rest of their time in the U.S.

The Boston-based attorney for Michael Taylor and his son Peter Taylor, Paul Kelly, said Thursday that the elder man was suffering from serious back pain and frostbite.

Lebanon’s central bank, known as the Banque du Liban (BDL), announced Wednesday that it has asked commercial banks to provide it with the names of the “politically exposed figures” who have failed to repatriate their bank transfers from abroad in the wake of the country’s historic financial crisis.

In a statement, BDL’s Special Investigation Commission said it had made the request following a meeting that was held on March 3, adding that the names of those who have complied should also be submitted to the central bank.

Asian stocks rebounded Wednesday after Wall Street declined and Chinese inflation edged higher.

Already high oil prices rose further, adding more than $2 per barrel following President Joe Biden's ban on imports of Russian crude.

McDonald's, Starbucks, Coca-Cola, PepsiCo and General Electric __ ubiquitous global brands and symbols of U.S. corporate might __ all announced they were temporarily suspending their business in Russia in response to the country's invasion of Ukraine.

"Our values mean we cannot ignore the needless human suffering unfolding in Ukraine," McDonald's President and CEO Chris Kempczinski said in an open letter to employees.

Protests erupted Wednesday in Iraq's impoverished south over a rise in food prices that officials attributed to the conflict in Ukraine.

For about a week, the price of cooking oils and flour have skyrocketed in local markets as government officials have sought to address growing anger with various statements and measures.