IBT Staff Reporter

The Bank of Canada hiked interest rates for the first time since October 2018 on Wednesday and said rates would need to go higher despite increased uncertainty following Russia's invasion of Ukraine.

The Bank of Canada hiked interest rates for the first time since October 2018 on Wednesday and said they would need to go higher despite increased uncertainty following Russia's invasion of Ukraine, setting the stage for a further increase in April.

Coffee traders are seeking advance payment in any new deal to sell beans to Russia as Western sanctions hit the financial system of the world's sixth largest importer.

Sri Lanka will suffer no more power cuts after March 5, the president's office said in a statement on Wednesday, following days of outages caused by a lack of funds to buy enough fuel to fire power plants.

Some of the world's biggest cryptocurrency exchanges are staying put in Russia, breaking ranks with mainstream finance in a decision that experts say weakens Western attempts to isolate Moscow following the invasion of Ukraine.

Built in wake of WWII, Kyiv metro offers shelter from Russian shells

Carmakers including Germany's Volkswagen, BMW and Porsche are struggling to obtain crucial wire harnesses as suppliers in western Ukraine have been shuttered by the Russian invasion, forcing them to curtail production.

Carmakers including Germany's Volkswagen, BMW and Porsche are struggling to obtain crucial wire harnesses as suppliers in western Ukraine have been shuttered by the Russian invasion, forcing them to curtail production.

Barber Franklin Iriarte had to get creative to survive when Venezuela, reeling from a long-running economic collapse, imposed a nationwide quarantine during the COVID pandemic.

With much of Moscow's $640 billion reserves under lock and key in the West and sanctions crippling cross-border capital flows, investors fear Russia may be heading for its first ever default on sovereign hard currency debt.

Early on Saturday morning, some 48 hours after Russian military forces had pushed into his country, Ukrainian President Volodymyr Zelenskiy put in a call from Kyiv to Brussels with a plea for military assistance.

In the poorest street of Tiszabecs, a tiny village on the Hungarian-Ukrainian border, the local Roma community now gives shelter to 150-200 Roma who fled western Ukraine in the past few days, half of them children.

A mediator in Purdue Pharma's bankruptcy case on Wednesday indicated an agreement was being drafted between the company's owners and U.S.

The European Union is excluding seven Russian banks from the SWIFT messaging system that underpins global payment transactions as the West ratchets up sanctions on Russia over its attack against Ukraine.

Pipe dreams: German village seeks future for Nord Stream 2

The Federal Reserve will move forward with plans to raise interest rates this month to try to tame high inflation, but the outbreak of war in Ukraine has made the outlook "highly uncertain" for U.S.

The Federal Reserve will move forward with plans to raise interest rates this month to try to tame high inflation, but the outbreak of war in Ukraine has made the outlook "highly uncertain" for U.S.

Federal Reserve Chair Jerome Powell said on Wednesday he was "inclined to propose and support a 25-basis-point rate hike" at the U.S.

Federal Reserve Chair Jerome Powell said on Wednesday he would support a 25-basis-point interest rate hike at the U.S.

Federal Reserve Chair Jerome Powell, balancing high U.S.

At least five superyachts owned by Russian billionaires were anchored or cruising on Wednesday in Maldives, an Indian Ocean island nation that does not have an extradition treaty with the United States, ship tracking data showed.

Harsh Panwar and his girlfriend Reva Shrivastava slept soundly for the first time in a week at a shelter in a wedding venue near the Romanian capital Bucharest, after fleeing Ukraine to the sound of sirens warning of Russian air strikes.

France's highest court on Wednesday upheld a ban on barristers wearing the hijab and other religious symbols in Lille law courts, a judgment which could set a precedent for the rest of the country.

France's highest court on Wednesday upheld a ban on barristers wearing the hijab and other religious symbols in courtrooms in the north, a ruling that is the first of its kind and sets a precedent for the rest of the country.

U.S. house prices are set to climb in double digits this year even as the Federal Reserve embarks on its expected series of interest rate hikes, according to a Reuters poll of property analysts who forecast a sellers' market for another two years.

European and British gas prices soared on Wednesday, with a benchmark Dutch gas price hitting a record high as countries said EU sanctions against Russia could target gas shipments, while some cargos of Russian liquefied gas changed course.

Citigroup Inc set new profitability targets on Wednesday at its first "investor day" in five years, aiming for a medium-term return on equity of 11% to 12%, an improvement from its recent performance.

Citigroup Inc is aiming for a medium-term return on equity of 11% to 12%, an improvement from its recent performance, in new profitability targets set on Wednesday at its first investor day in five years.

Citigroup Inc unveiled a raft of new targets as it laid out its strategy for the next three to five years on Wednesday, but analysts remained skeptical about whether it can successfully execute the plan.