Macau Shuts Down Malls and Casinos Over COVID Outbreak
Macao authorities on Tuesday shut down shopping malls, casinos, and several zones or buildings in a race to control the biggest outbreak in the biggest gambling hub in the world. … Read more
Economy, business and finance
Sri Lanka Declares Bankruptcy
Sri Lankan Prime Minister Ranil Wickremesinghe said Tuesday the country is “bankrupt,” making negotiations with the IMF in securing a bailout package “more difficult and complicated.” “But this time, the … Read more
British Airways to Cancel July Flights
The largest airline in the United Kingdom, British Airways (BA), canceled 1,500 more flights for July, on top of the reduced ten percent scheduled flights between April and October. “We … Read more
UK Antitrust Watchdog Looking Into Amazon’s Business Practices
The U.K.’s antitrust regulator announced on Wednesday that it is looking into whether the American e-commerce Amazon is damaging competition by giving its own retail business and sellers who use … Read more
Glencore Subsidiary Pleads Guilty to Africa Bribery
The Anglo-Swiss trading giant and subsidiary of mining Glencore has formally pleaded guilty to seven counts of bribery involving oil operations across five African countries on Tuesday. Glencore Energy admitted … Read more
World Markets/17/22
After declaring a bear market on Wednesday, the S&P 500 managed to climb 1.4 percent after almost a week of losses. ET Dow and Nasdaq futures were also down 1.7% … Read more
Bank of England Raises Interest Rates to 1.25%
The Bank of England has raised interest rates for the seventh time since December to combat surging inflation. In a statement, the Bank of England announced on Thursday that it … Read more
IKEA To Sell Russian Factories, Layoff Workforce
The Swedish furniture company, Ikea, the world’s biggest furniture brand, announced on Wednesday its plans to shut down offices and sell factories in Russia as it continues to invade Ukraine. … Read more
Tunisian General Strike to Halt All Transport and Logistics
Tunisia’s most prominent labor union will hold a nationwide strike that will cause all international flights to and from the country to be canceled, as well as land and sea … Read more
Sri Lankan Government Workers Given Day off to Grow Food
The government of Sri Lanka approved a four-day work week for public sector employees to encourage them to grow food as the country grapples with its worst financial crisis in … Read more