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Latest News
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10:29Russia dodges default for now as investors get dollar funds
Russia’s closely watched dollar payments on two bonds are trickling through to investors after the country dipped into its local holdings of the U.S. currency and sidestepped its first foreign default in a century.
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8:44G-20 wrestles with response if Putin shows up at Bali summit
Russia’s war in Ukraine is looming large over a Group of 20 summit that’s still seven months off, with officials frantically preparing in case President Vladimir Putin decides to turn up.
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8:00Russia pays US$102M coupon, taking a step back from default
Russia has made a US$102 million interest payment as the world’s biggest energy exporter continues to service its foreign bonds despite financial isolation after the invasion of Ukraine.
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4:08Boeing’s tenuous recovery in China shaken by latest 737 crash
Boeing faces a new crisis after a 737 jet fell out of the sky in China, renewing concerns about its best-selling family of planes and extending one of the most turbulent periods in the aviation titan’s century-long history.
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2:59Russia’s debt at risk of nonpayment, S&P says in new rating cut
S&P Global Ratings cut Russia’s credit score, saying the country’s debt is “highly vulnerable to nonpayment.”
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6:09A list of Canadian companies cutting ties with Russia over invasion of Ukraine
A number of Canadian companies have suspended or moved to withdrawal from Russia following its unprovoked invasion of Ukraine. Here is a partial list of those firms:
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5:53Bombardier, Canadian Tire halt Russia-linked ops over Ukraine
Bombardier and Canadian Tire have joined other Canadian companies in suspending their Russia-linked operations following country's unprovoked invasion of Ukraine.
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6:53What's at stake for global economy as Russia standoff escalates
Western nations are caught between the desire for harsh sanctions to deter Putin, and concern that they’ll suffer blowback themselves.
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7:36French fry shortages go global on supply chain disruption
Southeast Asian fast-food chains are being hit by a shortage of French fries as supply-chain snarls slow shipments of the frozen item from the U.S. and Europe.
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Melinda French Gates will pivot US$11.4B fortune away from foundation
Melinda French Gates will increasingly give away her fortune through philanthropies other than the US$50 billion Gates Foundation.
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Canadian music investment firm buys publishing rights from Drake producer Murda Beatz
Drake and Migos producer Murda Beatz is selling off publishing rights to hundreds of his songs to an upstart Canadian music investment fund.
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6:44Ski resorts aim for more efficient snowmaking amid drought
Snowpack in the U.S. West has decreased by about 20 per cent in the last century, making man-made snow more vital each year to opening ski resorts and fueling ski town economies as they head into an uncertain future
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Strip-bar habit worth US$220,000 hangs over Swiss banker on trial
The former head of a Swiss bank goes on trial Tuesday charged with enriching himself and others through millions of dollars in side deals and illegal expenses including racking up a 201,267 Swiss-franc (US$220,000) tab at a string of cabarets, strip clubs and “contact bars.”
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Navy's US$13B carrier sows doubt that it can defend itself
The combat system for the Navy’s newest and costliest warship, the US$13 billion Gerald R. Ford, “has yet to demonstrate that it can effectively” defend the aircraft carrier from anti-ship missiles and other threats, according to a new assessment by the Pentagon’s testing office.
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6:48Chinese banks cut borrowing costs as PBOC signals easing
Chinese lenders lowered borrowing costs for a second straight month after the central bank cut policy loan rates and pledged more easing to stabilize the economy.
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6:14Global tourism about to rebound, luxury hotel operator says
Global tourism is on its way to a “long-term, sustainable recovery” as more travelers and countries recognize the endemic nature of COVID-19
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Rising costs add to pandemic pain for small businesses
Sharply higher costs are yet another challenge thrown at business owners by the global pandemic. The unpredictability of shipping, labor and the coronavirus itself have created an environment where owners are often left guessing about when products might arrive and how much they'll cost.
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5:55COVID pandemic may shift to endemic in 2022, Moderna chair says
The pandemic could start moving into an endemic phase in 2022, though countries will need to stay vigilant as the omicron variant spreads, according to Moderna Inc. co-founder Noubar Afeyan.
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LA port defers empty-box fee, seeks options to clear docks
The Port of Los Angeles, the U.S.’s largest for container traffic, has deferred a plan to charge ocean carriers that fail to clear empty containers off the docks and is consulting with the logistics industry on alternatives on how to cut the backlogs.
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4:28COVID loses most of infection capacity after 20 minutes in air
Coronavirus loses most of its ability to infect shortly after being exhaled and is less likely to be contagious at longer distances, a study from the University of Bristol’s Aerosol Research Centre showed.
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World Economic Forum warns cyber risks add to climate threat
The World Economic Forum says cybersecurity and space are emerging risks to the global economy, on top of existing challenges posed by climate change and the coronavirus pandemic.
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Sidney Poitier, actor who made Oscars history, dies at 94
Sidney Poitier, the Academy Award-winning Black actor who experienced in life many of the racial stresses explored in his films, has died. He was 94.
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U.S. SEC lays charges in insider trading scheme involving failed Aphria deal
The U.S. SEC is charging 3 Florida residents for their alleged involvement in an insider trading ring that is believed to have netted millions of dollars in profits, including from tips tied to an ill-fated attempted takeover of Aphria
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7:58‘Avengers’ directors sell stake in company to video-game maker at US$1.1B value
Video-game maker Nexon bought a US$400M minority stake in AGBO, the independent film production company co-founded by “Avengers” directors, allowing both parties to develop games and films based on new entertainment properties.
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What investors learned from the Elizabeth Holmes trial: 'zero'
It took a jury seven full days to conclude that Theranos Inc. founder Elizabeth Holmes was guilty of four counts of fraud after a three-month trial. The startup world had been watching in suspense, but it was largely for the spectacle of it all -- not because anyone thought the verdict would significantly change behavior in venture capital fundraising.
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Europe seeks green label for certain gas and nuclear projects
The European Union proposal to classify investment in some natural-gas and nuclear projects as sustainable exposed deep divisions among member states, underscoring the challenges facing the bloc as it reaches for an ambitious climate-neutrality goal.
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This was the year of the super billionaire, with US$1 trillion in gains
Elon Musk’s wealth soared to levels only ever achieved by John D. Rockefeller. Bill Hwang lost US$20 billion in days, Bill Gates -- once the world’s richest man -- divorced under a Jeffrey Epstein cloud.
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U.S. airlines cancel over 1,000 flights on day before New Year’s Eve
Airline cancellations are already piling up in the U.S., with 1,086 flights scrubbed as rising coronavirus cases hobbled staffing. Winter storms meanwhile threatened to further disrupt travel over New Year’s weekend.
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Ghislaine Maxwell found guilty in sex-trafficking case
Ghislaine Maxwell was found guilty in the case accusing her of luring and grooming underage girls for sexual abuse by Jeffrey Epstein, a verdict that offers some long-delayed justice for his victims.
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How will China change in 10 years under Xi’s common prosperity push? Citizens speak out
It’s been a year of overwhelming change for China, and the fundamental shift in the relationship among the country’s government, businesses and citizens is a long way from complete.
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COVID spreads to 89 cruise ships, prompting CDC investigations
The U.S. Centers for Disease Control and Protection identified 89 cruise ships with COVID-19 cases on Tuesday, nearly all of which have met the threshold for a formal investigation.
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Fearing the ax in 2022, CEOs sweat supply chain more than COVID
The C-suite is a bundle of nerves this winter. A new survey shows that 72 per cent of chief executive officers are worried about losing their jobs in 2022 because of business disruptions, tracking closely with the 94 per cent of bosses who say their corporate models need to be overhauled within three years.
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The cost of this year’s 10 worst climate disasters: US$170 billion
Ten of this year’s most destructive weather events cost a combined US$170 billion in damages, according to a new study.
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Jail where Jeffrey Epstein hanged himself reckons with future
A few hundred feet from Ghislaine Maxwell’s sex-trafficking trial is the dark, shuttered jail where her onetime boyfriend Jeffrey Epstein hanged himself and left her to answer for their alleged crimes.
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John Legend branches out into book publishing
John Legend's newest project brings him into the book business.
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8:10Billionaire economy is booming with private jets in short supply
The hunger for pricey jets is just the latest example of the booming billionaires economy, where demand for mansions, boats and many collectibles has surpassed pre-COVID levels.
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Art dealer pleads guilty to US$86M fraud scheme
A once high-flying international art dealer has pleaded guilty to selling the same works to multiple collectors in an US$86 million fraud scheme.
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Queen Elizabeth II is 'irritated' by world leaders' lack of climate action
Queen Elizabeth II has been overheard criticizing world leaders for a lack of action on climate change ahead of the COP26 summit in Glasgow.
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1:21Global tax overhaul endorsed by G20 finance ministers
Finance ministers from the world’s biggest economies endorsed a global accord overhauling how countries tax big corporations, setting it for approval by heads of state at a summit later this month.
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Kanye West lists Wyoming ranch with go-kart track for US$11 million
Kanye West once had big dreams for his sprawling ranch in northwestern Wyoming. Now it appears he is ready to make a change.