BUSINESS

Penny Pritzker, the former US commerce secretary tapped to lead US efforts on Ukraine reconstruction,  arrives for a state dinner in honor of South Korean President Yoon Suk Yeol at the White House on April 26, 2023

US Taps Business Leader To Bring Ukraine Investment

US President Joe Biden on Thursday tapped Penny Pritzker, a billionaire businesswoman who served as commerce secretary, to encourage investment in Ukraine, which is expected to need hundreds of billions of dollars to recover from Russia's invasion.
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EU chief Ursula von der Leyen has called on the bloc to define its own approach to Beijing

EU To Probe China Electric Car Subsidies

Brussels will investigate Chinese state subsidies for electric cars, EU chief Ursula von der Leyen said Wednesday, vowing to defend Europe's industry against "artificially low prices".
UAW president Shawn Fain  has said the union could order strikes at all three major Detroit automakers if there is no agreement by Thursday night's deadline

Auto Show Opens As Detroit Weighs Possible Strike

The Detroit Auto Show, normally a cheery showcase of latest models from the three legacy US car giants, is taking second fiddle this year to a looming auto workers' strike and its mounting odds.
A spike in oil prices to 10-month highs has fuelled concerns of a fresh burst of inflation

Asian Markets Swing As Crude Spike Stokes Inflation Concerns

Equities fluctuated Wednesday ahead of a crunch US inflation report, with investors increasingly nervous that a recent spike in oil will put fresh upward pressure on consumer prices and force the Federal Reserve to lift interest rates again.
Polish filmmaker Maciek Hamela turned his own humanitarian work in Ukraine into the documentary 'In the Rearview,' which was screened at the Toronto film festival

Ukraine In Focus At Toronto Film Festival

More than 18 months into Russia's invasion of Ukraine, documentary filmmakers who screened their latest work on the conflict at the Toronto film festival say it is more important than ever to keep the crisis in the public consciousness.
Bernard Looney 'accepts that he was not fully transparent'

BP Chief Bernard Looney Resigns 'With Immediate Effect'

British energy giant BP said Tuesday that its chief executive Bernard Looney has resigned "with immediate effect", after admitting that he had not been "fully transparent" about historical relationships with colleagues.
The idea of "de-globalisation" has gained traction since the war in Ukraine and pandemic-related lockdowns in China disrupted supply chains

WTO Warns Of 'First Signs' Of Trade De-globalisation

The de-globalisation of international trade is far from being a reality, but "the first signs of fragmentation" are appearing, the WTO warned Tuesday, concerned of the effects of the phenomenon on growth and development.

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