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COLOMBO, Sri Lanka (AP) — Sri Lanka is sending two government ministers to Russia to negotiate for fuel — one of the necessities nearly exhausted as a result of the Indian Ocean nation's economic collapse. The plan comes as Washington and its allies aim to cut off energy imports from Russia in line with sanctions over its war against Ukraine. Since its invasion in late February, global oil prices have skyrocketed, prompting a number of countries to seek out Russian crude, which is being offered
Reuters and Dow Jones on Monday brought a motion to unseal records in the U.S. case against China's ZTE Corp, arguing there is a right to access and that secrecy does not serve the public interest. ZTE, one of the world's top telecommunications equipment makers, pleaded guilty in 2017 to conspiring to violate U.S. export laws by illegally shipping U.S. goods to Iran.
The Yumy Candy Company Inc., (CSE: TYUM) ("Yumy" or the "Company") Canada's first publicly traded low sugar, plant-based confectionery company, is pleased to announce that is has secured a permanent listing with London Drugs, one of Canada's leading retail pharmacy chains with 78 stores across Canada. In addition to pharmacy services, London Drugs locations also focus on the sales of non-perishable food items and a limited selection of grocery items. London Drugs Limited is owned by Georgia Main
Empty shelves and prices discounted by as much as 70% greeted shoppers who visited Decathlon stores in Russia over the weekend before the French sports equipment retailer closed its stores on Monday, hampered by supply constraints. Scores of Western brands have left Russia following a backlash against its military incursion into Ukraine, with McDonald's, IKEA and Renault among the more high-profile. One shopper, Lyubov, said Decathlon's departure was "sad", but was adamant that Russian consumers would cope.
Swedish loss-making airline SAS is fighting for survival, the latest carrier to hit financial straits due to hefty debts, stiff competition and soaring costs, even as the travel industry recovers from the pandemic. SAS has said a restructuring plan announced in February depends on it raising 9.5 billion Swedish crowns ($946 million)in cash and converting 20 billion crowns of debt to equity. Denmark has said it is willing to increase its ownership and write off debt, but Sweden has refused to inject more money.
PHOENIX (AP) — The skies over a scattering of Western U.S. cities will stay dark for the third consecutive Fourth of July as some major fireworks displays are canceled again this year — some over wildfire concerns amid dry weather and others because of enduring pandemic-related staffing and supply chain issues. Phoenix canceled its three major Independence Day displays because it couldn't obtain professional-grade fireworks. Shows in several other cities around Phoenix are still on. “Unless you’
Lockheed Martin Corp won a $2.3 billion contract to build at least 120 H-60M Black Hawks as the U.S. military continues its search for a next-generation helicopter, the Pentagon said on Monday. The five-year contract includes options for an additional 135 aircraft which will be available to the Army as well as other U.S. agencies and allies, pushing the potential total contract value to $4.4 billion with options, the Army said in a statement. "This multi-year agreement allows the Army to meet current and future capability needs through upgrades, remanufacturing, replacement, and technology insertions," said Colonel Calvin Lane, the Utility Helicopters project manager.
Contracts to buy U.S. previously owned homes unexpectedly increased in May after declining for six straight months, but higher mortgage rates are cooling demand for housing. The National Association of Realtors (NAR) said on Monday its Pending Home Sales Index, based on signed contracts, rose 0.7% last month to 99.9, rebounding from a two-year low in April. Pending home sales increased in the Northeast and the densely populated South, but fell in the West and Midwest.
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Hydro One (TSX:H) is a top bond proxy to own if you're a TSX investor who's worried about a pick-up in market volatility in the second half of 2022. The post The Biggest Regret a TSX Investor Can Have appeared first on The Motley Fool Canada.
Resound Networks and Globtel Holding announced the results of testing in the fixed wireless gigabit tier. Globtel`s flagship product AIR Gigaray 70E achieved the RDOF gigabit throughput milestone at 7 miles utilizing unlicensed and license-exempt spectrum. The achieved distances are arguably the furthest at which any fixed wireless technology has met the FCC gigabit tier requirements.
A court overseeing airline Garuda Indonesia's debt restructuring negotiations on Monday ratified a deal with creditors to repackage more than $9 billion of the carrier's debt, a court administrator told Reuters. The deal, which the state-carrier secured after most creditors backed its restructuring proposal on June 17, was due to be ratified last week, but was delayed after objections by two lessors on claims. Under the deal, most of the creditors will have to take a debt haircut, or write-down, and have the remainder of their debt repackaged into new bonds and shares, while some others will see their loan tenure extended without any haircut.
The Canadian dollar strengthened for a third straight day against its U.S. counterpart on Tuesday as the easing of COVID-19 restrictions in China bolstered investor sentiment. Global shares were higher and the price of oil, one of Canada's major exports, rose following China's decision to ease some quarantine requirements for international arrivals, a move that raised hopes for stronger growth and a revival in demand for commodities. U.S. crude prices advanced 1.3% to $110.98 a barrel, while the Canadian dollar was trading 0.3% higher at 1.2844 to the greenback, or 77.86 U.S. cents.
GARMISCH-PARTENKIRCHEN, Germany (AP) — Leaders of the world’s biggest developed economies are weighing a cap on the price of Russian oil meant to strike at the main pillar of the Kremlin's finances following its invasion of Ukraine — and to limit the havoc that high energy prices are wreaking worldwide. Details haven't been agreed at the Group of Seven summit in Elmau, Germany, but the basic idea would be to tie the price cap to the services that make trading oil possible. For instance, insurers
TOKYO (AP) — The rickshaw men in Tokyo are adding English-speaking staff, a sure sign Japan is bracing for a return of tourists from abroad. Japan’s border controls to curb the spread of coronavirus infections began gradually loosening earlier this month. That's great news for Yusuke Otomo, owner of Daikichi, a kimono rental shop in Asakusa, an old district of Tokyo famous for its temples, quaint restaurants and rickshaw rides. He can barely contain his excitement. “Those were a hard three years
Spirit Airlines on Tuesday again cited antitrust concerns to reject JetBlue's sweetened offer and asked its shareholders to vote for a merger with Frontier at Thursday's meeting. The influential proxy advisory firm in a report dated Monday said, with the shareholder meet to approve the deal set as early as Thursday, it was hesitant to change its earlier stand recommending them to vote for Frontier's offer.
HONG KONG (Reuters) -In 1997, the world watched as Britain returned Hong Kong to Chinese rule, with some pessimistic or wary about the outlook for the city and its role in the global financial system. Twenty-five years later, Hong Kong has so far retained its status as a financial hub, and some of the city's top executives are banking on a bright future as the territory remains a crucial springboard for investment into mainland China. Charles Li, former chief executive of bourse operator Hong Kong Exchanges and Clearing (HKEX) and founder of microfinance platform Micro Connect, said that although he believes the next 25 years will be "very different", he's optimistic.
Garuda Indonesia has halved its debt and achieved comparable cuts to aircraft leasing costs in negotiations that have set the airline up for profitability, the Indonesian government said on Tuesday. The company had approached financial investors and foreign airlines to increase its capital, Kartika Wirjoatmojo, deputy minister of state-owned enterprises, told reporters. Restructuring of the airline's obligations, agreed this month, has come six months after an unpaid creditor forced it into proceedings for a court-supervised debt moratorium.
HONG KONG (Reuters) -An investor in China Evergrande Group unit Fangchebao said on Monday it had filed a winding-up petition against the embattled property developer in Hong Kong because it had not honoured an agreement to repurchase shares the investor bought in FCB. It is the first winding-up petition known to have been filed against Evergrande, which is reeling under more than $300 billion in liabilities and whose offshore debt was deemed to be in default after missing payment obligations late last year. Investment holding firm Top Shine Global Ltd bought 0.46% of FCB, a Chinese online real estate and automobile marketplace, last March for HK$750 million ($95.6 million), as Evergrande sold 10% of the unit to 17 investors for a total $2.10 billion ahead of an initial public offering (IPO).
Spirit Airlines on Tuesday again cited antitrust concerns to reject JetBlue's sweetened offer and asked its shareholders to vote for a merger with Frontier at Thursday's meeting. The influential proxy advisory firm in a report dated Monday said, with the shareholder meet to approve the deal set as early as Thursday, it was hesitant to change its earlier stand recommending them to vote for Frontier's offer.
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