Business

G7 seeks to curb Russian oil income through price cap

he Group of Seven rich nations are debating a global price cap for Russian oil that would curb Moscow’s energy revenues and potentially limit its ability to fund its invasion of Ukraine. LOWER EXPORTS, MORE MONEYHigher crude oil and fuel prices allowed Russian revenues to climb in May despite its export volumes slipping due to […]

Business

U.S. manufacturing shows resilience despite rising interest rates

New orders for U.S.-made capital goods and shipments increased solidly in May, pointing to sustained strength in business spending on equipment in the second quarter, but rising interest rates and tighter financial conditions could slow momentum. The nearly broad rise in orders reported by the Commerce Department on Monday occurred despite deteriorating business and consumer […]

Business

Australian retail giants named in facial recognition tech complaint

Three of Australia’s biggest retail chains have been referred to the privacy regulator for recommended enforcement action by a major consumer group which has said they use “unreasonably intrusive” facial recognition technology on customers. CHOICE, in a complaint to the Office of the Australian Information Commissioner (OAIC) published on Monday, said use of the technology […]

Business

Companies offering abortion travel benefits to U.S. workers

A growing number of companies, including JPMorgan Chase & Co (JPM.N), Amazon.com Inc (AMZN.O), Tesla Inc (TSLA.O) and Walt Disney Co (DIS.N) are updating or changing their health insurance policies to offer travel benefits to U.S. employees who may need to access out of state abortion services. The U.S. Supreme Court on Friday took the […]

Business

TPG to reimburse employees for abortion-related travel expenses

Private equity firm TPG Inc (TPG.O) said it will reimburse its employees for travel and lodging expenses for out-of-state abortion and reproduction care services, according to a memo to staff by Chief Executive Jon Winkelried. The memo, released late on Friday, came after the U.S. Supreme Court issued a ruling overturning its landmark 1973 Roe […]

Business

Holiday Inn owner IHG says stopping all Russian operations

Holiday Inn-owner IHG (IHG.L) said on Monday it was stopping all operations in Russia due to Western sanctions and increasing challenges of doing business there after the Ukraine invasion. IHG, also owner of the Crowne Plaza, Regent and Hualuxe hotel chains, had already stopped new investments and development activities in Russia and closed its corporate […]

Business

U.S. pending home sales unexpectedly rebound in May

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 […]