WARSAW, Poland (AP) — The former head of Poland's state broadcaster said Wednesday that he now has a job at the World Bank, spurring disbelief in the European Union country where he is known for turning the news channel into a propaganda tool for the right-wing government. Kurski, who has no finance experience, said on Twitter that he has been named an alternate executive director — one of 25 at the 189-country anti-poverty agency — and is giving up “some of (his) political activity and politica
GoBolt, a technology company on a mission to build the world's largest sustainable, vertically integrated supply chain network, announces it has raised $75 million CAD in financing, bringing the total funds raised to date to more than $222.5 million CAD. This investment was led by Yaletown Venture Partners and Export Development Canada (EDC), with participation from BDC Capital, Northleaf Capital Partners, Whitecap Venture Partners, MIG Group, BMO Capital Partners and Ingka Investments, the inve
FLO, a leading North American electric vehicle (EV) charging network operator and smart charging solutions provider, has been selected as the supplier for General Motors' Dealer Community Charging Program. This program will install up to 40,000 public Level 2 EV chargers in local communities across North America. This project is the single largest deployment of EV chargers across North America.
Foreigners dumped the most cash into emerging market portfolios in November than any month since June 2021 even as Chinese debt continues to see outflows, the Institute of International Finance (IIF) said on Thursday. "Non-resident investor flows to China have essentially ground to a halt, which is consistent with anecdotes we pick up from market participants who have become more attuned to geopolitical risk," said IIF economist Jonathan Fortun in a report alongside the flows data. China this week eased COVID-19 quarantine rules in a major policy adjustment which could reverse the flow of cash back into portfolios in the world's second-largest economy.
Ma'aden, Saudi Arabia's leading mining company, today announced its sponsorship of the upcoming Future Minerals Forum (FMF), which will take place in Riyadh between 10-12 January 2023. As Founding Partner, Ma'aden will showcase its latest achievements in the mining industry, which contribute to developing economies and societies.
Back in January, 109 container ships waited off the California coast to unload cargo in Los Angeles and Long Beach, the nation's two largest ports. Consumers, stuck at home amid the pandemic, had unleashed an avalanche of orders for goods that overwhelmed factories and ports. Importers were paying $20,000 to send a single container from China to the United States — sometimes more than the goods inside were worth. Businesses had to backorder everything from bedroom furniture to kitchen fryers, if
BANGKOK (AP) — Shares rose in Asia on Friday after an advance on Wall Street led by the latest rally in technology companies. Chinese benchmarks rose on reports the government is planning new measures to support the ailing property sector, which has dragged on growth over the past several years. The relaxation of some of the country’s “zero-COVID” rules is also boosting hopes for the economy will gain momentum, though experts say it will take months for tourism and other business to recover from
Tesla Inc launched two electric vehicle (EV) models in Thailand on Wednesday, marking its first foray into the regional autos hub that has long been dominated by Japanese manufacturers. The launch of two EVs with prices ranging between 1.7 million baht to 2.5 million baht (($48,447 to $71,205) comes as Thailand makes a push for EV adoption and production by offering tax cuts and subsidies. The U.S. automaker plans to start selling its EVs in Southeast Asia's second-biggest economy via online channels, with deliveries set to start early next year.
PORTLAND, Maine (AP) — For years, Mark Hager’s job as an observer aboard New England fishing boats made him a marked man, seen as a meddling cop on the ocean, counting and scrutinizing every cod, haddock and flounder to enforce rules and help set crucial quotas. On one particularly perilous voyage, he spent 12 days at sea and no crew member uttered even a single word to him. Now Hager is working to replace such federally-mandated observers with high-definition cameras affixed to fishing boat mas
CHICAGO (Reuters) -Southwest Airlines Co on Wednesday became the first major U.S. airline to reinstate its quarterly dividend, more than two years after suspending it in the wake of the coronavirus pandemic. Chief Executive Officer Bob Jordan said the reinstatement reflects "the strong return in demand for air travel" as well as Southwest's "solid" operating and financial performance since March. A rebound in travel demand has helped major U.S. carriers return to profitability this year.
Intermediate player may lap much larger oilsands peers in deploying technology to cut emissions
Should investors consider Manulife (TSX:MFC) stock amid surging inflation, rising interest rates, and geopolitical concerns? The post Manulife Stock Rose 7% in November: Is it a Buy Today? appeared first on The Motley Fool Canada.
Bernard Arnault, the chief executive of luxury brand Louis Vuitton's parent company LVMH, and his family briefly took the title as the world's richest, but were back at No. 2 with a personal wealth of $185.3 billion, according to Forbes. Musk, who has held the top spot on the Forbes list since September 2021, has a net worth of $185.7 billion. Musk took over the title from Amazon.com founder Jeff Bezos.
LONDON (Reuters) -Global oil prices have tumbled more than 20% as the threat to production from the G7 Russia price cap has receded allowing traders to refocus on the deteriorating outlook for consumption. Front-month Brent futures prices have slumped to less than $78 per barrel from a recent high over $98 just a month ago on Nov. 4. The collapse of spot prices and spreads is consistent with a cyclical downturn in the oil market and the onset of a business cycle slowdown or recession.
KPMG in Canada1 is proud to release its 2022 Our Impact Plan, the latest comprehensive update on the firm's progress towards its environmental, social, and governance (ESG) commitments. The report spotlights numerous initiatives KPMG has introduced to focus on key equity and sustainability issues through four central pillars: Planet, People, Prosperity, and Governance.
European Union plans to shift derivatives clearing worth trillions of euros from London to the bloc have ditched hardline rhetoric in favour of pragmatism that should limit the risk of EU banks losing out to foreign rivals. It has long been a flashpoint between London and Brussels, particularly after Brexit pitted Britain in direct competition with financial centres like Frankfurt and Paris in the bloc. EU financial services chief Mairead McGuinness has likened ending the bloc's heavy reliance on London for clearing euro contracts to weaning the EU off Russian gas so that Brussels builds "open strategic autonomy" in capital markets to safeguard financial stability.
Canada's dollar will rally over the coming year as major commodity consumer China loosens its COVID-19 restrictions and the Federal Reserve potentially concludes its campaign to increase interest rates, a Reuters poll showed. The loonie has weakened over 7% against the U.S. dollar since the start of 2022, with almost all of the decline coming since mid-August. According to the median forecast of 35 currency analysts surveyed Dec. 1-6 the currency will rebound 1.1% to 1.35 per U.S. dollar, or 74.07 U.S. cents, in three months, compared with November's forecast of 1.36.
SEOUL, South Korea (AP) — Officials say South Korea’s economy is recovering from the initial shock of a nationwide walkout staged by thousands of cargo truckers, even as their strike reached its 14th day on Wednesday amid a stalemate with the government over freight fare issues. The conservative government of President Yoon Suk Yeol has taken aggressive steps to defuse the impact of the strike, issuing contentious back-to-work orders to more than 2,000 drivers of cement trucks among broader grou
TORONTO — Canada's financial regulator is raising the amount of capital major banks need to have on hand over concerns of high household debt levels and other elevated systemic vulnerabilities. The Office of the Superintendent of Financial Institutions said Thursday the domestic stability buffer will go up by half a percentage point to three per cent as of Feb. 1, 2023. It also increased the possible range of future adjustments to between zero and four per cent, rather than the previous top end
Air Canada and Emirates have expanded their partnership to offer frequent flyer members joint loyalty programme benefits. Aeroplan Members will also benefit from earning and redeeming points on all flights operated by Emirates — with access to more than 130 destinations across six continents — via the airline's home and hub, Dubai. Emirates Skywards members can now earn and redeem miles on all flights operated by Air Canada, accessing a network of more than 220 destinations worldwide.