Business
Putin welcomes China’s Xi to Kremlin amid Ukraine war
By The Associated Press on March 20th, 2023
MOSCOW – Russian President Vladimir Putin welcomed Chinese leader Xi Jinping to the Kremlin on Monday, in a visit that sent a powerful message to Western leaders allied with Ukraine that their efforts to isolate Moscow have fallen short. As he greeted Xi, Putin also said he welcomed his plan for “settlement of the acute ... Read More »
Be the first to comment!Ontario court permits Nordstrom Canada to liquidate closing stores
By Tara Deschamps, The Canadian Press on March 20th, 2023
TORONTO – An Ontario court has granted Nordstrom permission to sell off its merchandise before it closes its Canadian stores. At a hearing in Toronto, the Superior Court of Justice gave the U.S. retailer’s Canadian branch approval to start the liquidation process. Nordstrom required court approval because it is winding down its Canadian operations under ... Read More »
Be the first to comment!Wall Street holds steady after weekend’s big bank deal
By Stan Choe, The Associated Press on March 20th, 2023
NEW YORK (AP) – Most of Wall Street is holding steady Monday after regulators pushed together two huge banks over the weekend to build confidence in the struggling industry. The S&P 500 was 0.4% higher in early trading. The Dow Jones Industrial Average was up 335 points, or 1.1%, at 32,200, as of 9:57 a.m. ... Read More »
Be the first to comment!Wall Street opens mostly higher with banks still in focus
By Joe Mcdonald, The Associated Press on March 20th, 2023
NEW YORK (AP) – Wall Street is opening mostly higher after regulators pushed together two huge banks over the weekend to build confidence in the struggling industry. The S&P 500 rose 0.2% shortly after the opening bell Monday. The Dow added 0.6% and the Nasdaq composite slipped 0.3%. Much of the attention was still on ... Read More »
Be the first to comment!China’s Xi visits Moscow to bolster Putin amid Ukraine war
By The Associated Press on March 20th, 2023
MOSCOW – Chinese leader Xi Jinping arrived in Moscow on Monday to show off Beijing’s new diplomatic swagger and give a political lift to Russian President Vladimir Putin against the West just days after an international arrest warrant was issued for the Kremlin leader on war crimes charges related to Ukraine. The two major powers ... Read More »
Be the first to comment!Deal for UBS to buy Credit Suisse sends shares tumbling
By Kelvin Chan And David Mchugh, The Associated Press on March 20th, 2023
LONDON (AP) – Shares of Credit Suisse plunged 60.5% on Monday after banking giant UBS said it would buy its troubled Swiss rival for almost $3.25 billion in a deal orchestrated by regulators to try to stave off further turmoil in the global banking system. UBS shares also were down nearly 5% on the Swiss ... Read More »
Be the first to comment!China’s Xi makes 1st Moscow visit as Putin wages Ukraine war
By The Associated Press on March 20th, 2023
MOSCOW – Chinese leader Xi Jinping arrived in Moscow on Monday on a three-day visit that shows off Beijing’s new diplomatic swagger and offers a welcome political lift for Russian President Vladimir Putin as the fighting in Ukraine slows to a grinding war of attrition. China and Russia have described Xi’s trip as part of ... Read More »
Be the first to comment!China’s leader Xi in Moscow for meeting with Putin
By The Associated Press on March 20th, 2023
MOSCOW (AP) – Chinese leader Xi Jinping arrived in Moscow on Monday on a three-day visit that offers a strong political boost for Russian President Vladimir Putin as fighting in Ukraine grinds on. China and Russia have described Xi’s trip as part of efforts to further deepen their “no-limits friendship.” The Kremlin has welcomed China’s ... Read More »
Be the first to comment!Credit Suisse, UBS shares plunge after takeover announcement
By Jamey Keaten And Ken Sweet, The Associated Press on March 20th, 2023
GENEVA (AP) – Shares of Credit Suisse plunged 63% in early trading Monday after the announcement that banking giant UBS would buy its troubled rival for almost $3.25 billion in a deal orchestrated by regulators to stave off further market-shaking turmoil in the global banking system. UBS shares were down 14% in early trading on ... Read More »
Be the first to comment!Air passenger complaints triple in one year to pass 42,000 as backlog grows
By The Canadian Press on March 20th, 2023
MONTREAL – The number of air passenger complaints to Canada’s transport regulator is soaring, more than tripling to 42,000 over the past year. The growing backlog means each case now needs more than a year and a half to handle, spurring advocates and politicians to question the entire process. NDP transport critic Taylor Bachrach plans ... Read More »
Be the first to comment!New York Community Bank to buy failed Signature Bank
By Ken Sweet, The Associated Press on March 19th, 2023
NEW YORK (AP) – New York Community Bank has agreed to buy a significant chunk of the failed Signature Bank in a $2.7 billion deal, the Federal Deposit Insurance Corp. said late Sunday. The 40 branches of Signature Bank will become Flagstar Bank, starting Monday. Flagstar is one of New York Community Bank’s subsidiaries. The ... Read More »
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