Venezuela plans sale of shares of state companies | business news

By REGINA GARCIA CANO, Associated Press CARACAS, Venezuela (AP) — In a break with its socialist model, the Venezuelan government plans to open up a number of state-owned companies in vital sectors to private investment as it seeks to address the need for capital for companies with very low investment. The few details about the … Read more

United States and Italy united in Ukraine, with slightly different tones | business news

By COLLEEN BARRY Associated Press MILAN (AP) — Italian Prime Minister Mario Draghi is meeting this week with U.S. President Joe Biden in Washington as Europe faces another “whatever it takes” moment with Russia’s war in Ukraine in its eastern flank. Both Rome and Washington will emphasize their historic friendship and shared desire to help … Read more

Asian stocks mostly up after upbeat end on Wall Street | business news

By ELAINE KURTENBACH, AP Business Writer BANGKOK (AP) — Stocks in Asia were mostly higher on Monday as gains carried over from a strong close last week on Wall Street. Tokyo, Hong Kong and Seoul advanced while Shanghai was closed for a holiday. Oil prices rose and US futures were almost unchanged. Analysts said a … Read more

In the Solomon Islands, Australia’s generosity meets China’s challenge | Poverty and Development

In the Solomon Islands, Australia's generosity meets China's challenge |  Poverty and Development

When the Solomon Islands, an impoverished nation of 700,000 people 2,000 kilometers (1,200 miles) east of Australia, announced the drafting of a new security agreement with China late last month, Australian officials warned the move could undermine security in the South Pacific and manifest Canberra’s longstanding fears of a Chinese military base in its backyard. … Read more

Russian war could further increase car prices and shortages | business news

By TOM KRISHER and KELVIN CHAN, AP Business Writers DETROIT (AP) — BMW has halted production at two German factories. Mercedes is slowing down work at its assembly plants. Volkswagen, warning of production stops, is looking for alternative sources of spare parts. For more than a year, the global auto industry has grappled with a … Read more

Lithuania cuts Russian gas imports and urges the EU to do the same | business news

By LIUDAS DAPKUS Associated Press VILNIUS, Lithuania (AP) — Lithuania says it has completely cut gas imports from Russia, reportedly becoming the first of 27 European Union nations to use Russian gas to break its energy dependency on Moscow. “Seeking full energy independence from Russian gas, in response to Russia’s energy blackmail in Europe and … Read more

Biden cites economic gains, but voters see much more to do | business news

By JOSH BOAK, ZEKE MILLER and CHRIS MEGERIAN Associated Press WASHINGTON (AP) — Seven months before he faces a critical test from voters in the midterm elections, President Joe Biden is turning his attention to the issues at the table as he struggles to get credit for a recovering economy. Since Biden took office last … Read more

After Ukraine war, Taiwan’s chip supremacy raises economic stakes | Russo-Ukrainian War

After Ukraine war, Taiwan's chip supremacy raises economic stakes |  Russo-Ukrainian War

The COVID-19 pandemic and the war in Ukraine highlighted the value of semiconductors in the global economy and Taiwan’s crucial role in chip manufacturing. They have also shown that the island’s role in producing the crucial components, which are used in everything from smartphones to medical devices to automobiles, would be difficult to fulfill. Taiwan’s … Read more

Seafood business braces for job and fish loss due to sanctions | Local business

Seafood business braces for job and fish loss due to sanctions |  Local business

By PATRICK WHITTLE Associated Press PORTLAND, Maine — The global fishing industry is bracing for price increases, supply disruptions and potential job losses as new rounds of economic sanctions on Russia make key species like cod and crab more difficult to get. The latest round of US attempts to punish Russia for invading Ukraine includes … Read more