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OPEC set to stick or cut more amid plan to cap Russian oil price
Major oil producers are expected to stick to their current output strategy or even slash production further when they meet on Sunday in the face of falling prices, a potential Russian oil price cap and an embargo on Russian crude shipments.
Switzerland fines engineering giant $4.3 mn over S.Africa bribery
Swedish-Swiss engineering giant ABB has been fined four million Swiss francs ($4.3 million) over bribery linked to the construction of a huge power plant in South Africa, Switzerland announced on Friday. As a result, it said ABB had been slapped with a fine of four million Swiss francs and ordered the group to pay 50,000 Swiss francs for the cost of proceedings.
Fed rate hopes weigh on dollar, stocks fall ahead of US jobs data
The dollar struggled to recover on Friday from its recent sell-off as traders grew confident the Federal Reserve will slow its pace of interest rate hikes, while an equities rally sputtered ahead of key US jobs data. So traders are jockeying for position ahead of the moderately high-risk event."
'I like Hitler': Kanye doubles down in wild Infowars stream
Kanye West declared his "love" of Nazis and admiration for Adolf Hitler on Thursday, sparking outrage as another commercial partner announced it was splitting from the troubled superstar. I love Nazis," West said.
US Congress approves bill to avert major freight rail strike
The US Congress passed legislation Thursday to avert a freight rail strike that could have been devastating for the economy, intervening to break an impasse between workers and management as the holiday season approaches. I'm going to continue to fight for paid leave for not only rail workers, but for all American workers," Biden said Thursday. cjc-bys/dw
Key US inflation index ticks down in October: official data
A closely-watched measure of US inflation edged down in October, government data showed Thursday, with costs of goods easing while spending remained resilient. "Household spending has remained resilient in the face of a 40-year high in inflation and rising borrowing costs.
Brexit ramps up UK food bills by £6 bn: study
Britain's exit from the European Union added almost £6 billion to consumers' food bills, hitting the poor the hardest and further stoking red-hot inflation, a study said Thursday. The hike disproportionately hit the poor because those on low incomes spend a greater share of their pay on food than richer people.
Disasters cost $268 billion in 2022: Swiss Re
Natural and man-made catastrophes have caused $268 billion of economic losses so far in 2022, chiefly driven by Hurricane Ian and other extreme weather disasters, reinsurance giant Swiss Re estimated Thursday.
Engineering giant to repay S.Africa over 'criminal conduct' at utility
Swedish-Swiss engineering giant ABB, which helped construct a huge power plant near Johannesburg, will pay reparations to South Africa over "criminal conduct" at the struggling power utility Eskom, prosecutors said Thursday. It said it had finalised a settlement agreement with Asea Brown Boveri (ABB) to pay over more 2.5 billion rand ($144,000) in "punitive reparations" to South Africa.
AFP
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