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BUSINESS


7 minutes ago

Japan's troubled Toshiba proposes outside directors to board

Troubled Japanese technology giant Toshiba has announced some additions to its proposed leadership ahead of a shareholders’ meeting next month.

25 minutes ago

UK govt touts financial aid as it aims to banish 'partygate'

The British government is unveiling a package of help on Thursday to ease a severe cost-of-living squeeze.

42 minutes ago

As Ukraine war grinds, world pushes for way to get grain out

Russia is pressing for the West to lift sanctions imposed because of its war in Ukraine, claiming that the punitive measures are preventing millions of tons of grain and other agricultural products from leaving Ukrainian ports.

1 hour ago

Albania offers ex-Soviet built naval base to NATO

The office of Albania's prime minister says the country has offered to NATO a naval base in an effort to highlight the tiny country’s value in the alliance “in these difficult times."

2 hours ago

Rights group: Bulgaria uses police dogs in migrant pushbacks

An international rights group says that Bulgarian authorities are attacking Afghan and other asylum-seekers, using police dogs and other violence to illegally push them back over the border into Turkey.

2 hours ago

US moves to make antiviral drug more available against COVID

The White House has announced more steps to make the antiviral treatment Paxlovid more accessible across the U.S. as it projects COVID-19 infections will continue to spread over the summer travel season.

2 hours ago

Davos updates | Scholz says war shows need for climate goals

Chancellor Olaf Scholz says Germany must pursue its climate goals even more resolutely because of Russia’s war in Ukraine.

3 hours ago

Live updates | Russia tells Ukraine to accept real situation

The Kremlin says it expects Ukraine to recognize the existing situation and accept Moscow’s demands.

3 hours ago

Davos: Germany seeks 'multipolar' world amid climate protest

German Chancellor Olaf Scholz expressed hopes for global cooperation on climate change, hunger and war as dozens of climate activists demonstrated in the Swiss town of Davos.

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4 hours ago

UK foreign secretary visits Bosnia to pledge support

British Foreign Secretary Liz Truss is visiting Sarajevo to reaffirm the U.K.’s commitment to peace and stability in Bosnia amid growing fears of malign influence from Russia in the ethnically-divided Balkan country.

5 hours ago

World stocks lower after Fed confirms rate hike plans

Major global stock markets were mostly lower Thursday after notes from the Federal Reserve’s latest meeting confirmed expectations of more interest rate hikes but held no surprises to rattle investors.

7 hours ago

Housekeepers struggle as US hotels ditch daily room cleaning

Many hotels across the United States have done away with daily housekeeping service, making what was already one of the toughest jobs in the hospitality industry even more grueling.

7 hours ago

Goodbye NYC; Estimates show big city losses, Sunbelt gains

Eight of the 10 largest cities in the U.S. lost population during the first year of the pandemic.

13 hours ago

Twitter to pay $150M penalty over privacy of users’ data

Twitter will pay a $150 million penalty and put in new safeguards to settle federal regulators’ allegations that the social platform failed to protect the privacy of users’ data over a six-year span.

13 hours ago

EXPLAINER: Social media and the Texas shooter's messages

Could Facebook have known about ominous direct-message threats made by a gunman who Texas authorities say massacred 19 children and two teachers at an elementary school.

16 hours ago

Administration opposes airlines in lawsuit over crew breaks

The Biden administration is siding against the airline industry in a case that involves whether California-based flight crews should get the rest breaks that are required under state law.

17 hours ago

Congressional Budget Office says inflation to last into 2023

The Congressional Budget Office says that high inflation will persist into next year.

17 hours ago

Fed officials signal rates may head to 'restrictive' levels

Federal Reserve officials agreed when they met earlier this month that they might have to raise interest rates to levels that would weaken the economy as part of their drive to curb inflation, which has reached a four-decade high.

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18 hours ago

Amazon shareholders nix warehouse working conditions audit

Amazon shareholders have voted against a proposal calling for an independent audit of working conditions at the company’s warehouses.

18 hours ago

Twitter shareholders to meet amid Elon Musk’s takeover drama

Elon Musk on Wednesday revised the financing plan for his proposed $44 billion purchase of Twitter, raising investor hopes that the unpredictable billionaire still intends to pull off a deal roiled by market turbulence and Musk's own unpredictable fixation with the number of fake accounts on Twitter.

19 hours ago

Kansas City Fed President Esther George announces retirement

Esther George, the president of the Federal Reserve Bank of Kansas City, will retire in January, as required by the Fed’s mandatory retirement rules.

19 hours ago

Ford Foundation's Darren Walker gets France's highest honor

The president of the Ford Foundation, Darren Walker, has received France’s highest cultural honor in recognition of his support of the arts and artists.

21 hours ago

Russia says it will pay foreign debt in rubles after US ban

Russia says it will pay dollar-denominated foreign debt in rubles, a move that is likely to be seen by foreign investors as a default.

22 hours ago

Tentative $161.5 million settlement reached in opioid trial

Attorneys for the state of West Virginia and two remaining pharmaceutical manufacturers have reached a tentative $161.5 million settlement.

22 hours ago

EPA proposes restrictions in fight over Alaska mine

The U.S. Environmental Protection Agency is proposing restrictions that would block plans for a copper and gold mine in Alaska’s Bristol Bay region.

1 day ago

UK's Johnson faulted for lockdown parties but won't quit

An investigative report blames British Prime Minister Boris Johnson and other senior leaders for allowing boozy government parties that broke the U.K.’s COVID-19 lockdown rules.

1 day ago

Davos gathering overshadowed by global economic worries

The risks to the global economy are leading to an increasingly gloomy view of the months ahead for corporate leaders, government officials and other VIPs gathered at the World Economic Forum meeting in Davos, Switzerland.

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1 day ago

Davos updates | WTO chief speaks on climate, food crisis

The head of the World Trade Organization said that leaders in developed nations will need to “have the courage” to reduce dependency on fossil fuels.

1 day ago

Russia takes steps to bolster army, tighten grip on Ukraine

Russian President Vladimir Putin is trying to strengthen his control of southern Ukraine by giving residents of two regions a fast path to Russian citizenship.

1 day ago

Glencore pays up to $1.5B to resolve corruption claims

Commodities firm Glencore says it has reached deals with authorities in the United States, Britain and Brazil to resolve corruption allegations in return for penalties totaling up to $1.5 billion.

1 day ago

Live updates | Russia-Ukraine War

The Russian Defense Ministry is promising to open a safe corridor to allow foreign ships to leave Black Sea ports.

1 day ago

Saving the children: War closes in on eastern Ukrainian town

Chunks of twisted metal and wood splinters lie among the swings and slides in the playground outside the bombed-out school.

1 day ago

Pfizer to offer low-cost medicines, vaccines to poor nations

Pfizer says it will provide nearly two dozen products at not-for-profit prices in some of the world’s poorest countries.

1 day ago

Scars of war seem to be everywhere in Ukraine after 3 months

No matter where Ukrainians live, the 3-month-old war never seems to be far away.

1 day ago

Turkey demands 'concrete steps' to back Nordics' NATO bids

A senior Turkish official says Turkey will not agree to Sweden and Finland joining NATO without “concrete steps in a certain timeframe” to address Ankara’s concerns.

1 day ago

Sale of Chelsea by sanctioned Abramovich approved by UK govt

Roman Abramovich’s 19-year ownership of Chelsea is ending after the British government approved the sale of the Premier League club by the sanctioned Russian oligarch to a consortium fronted by Los Angeles Dodgers part-owner Todd Boehly.

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1 day ago

Asian stocks mixed after Fed confirms rate hike plans

Asian stock markets are mixed after notes from the Federal Reserve’s latest meeting confirmed expectations of more interest rate hikes but contained no surprises to rattle investors.

1 day ago

FDA chief struggles to explain slow response on baby formula

The head of the Food and Drug Administration testified about a series of setbacks that led to a months-long delay in inspecting the plant at the center of a nationwide baby formula shortage.

1 day ago

'FBI' season finale pulled after Texas deadly shooting

CBS has pulled the season finale of “FBI” after a deadly elementary school shooting in Texas.

1 day ago

Australia's government urges China to remove trade barriers

Australia’s new government has urged China to lift trade sanctions if it wants to reset a bilateral relationship that plumbed new depths under the previous administration.

1 day ago

Golden State-Dallas playoff games score in weekly TV ratings

When the NBA playoffs take the TV court even the most popular shows find the competition tough.

1 day ago

Attorney paying ex-casino mogul Steve Wynn defamation claim

Former Las Vegas casino mogul Steve Wynn has accepted an undisclosed financial settlement to end his federal defamation lawsuit against an attorney.

1 day ago

Ford pays $19M to settle claims on fuel economy, payload

Ford Motor Company has settled claims by 40 U.S. state attorneys general that the company made misleading claims about the fuel economy and payload capacity of some of its vehicles.

1 day ago

Trump's inaugural chair pleads not guilty to latest charges

The chair of former President Donald Trump's inaugural committee has pleaded not guilty to the latest charges in an indictment accusing him of secretly working for the United Arab Emirates to influence Trump's foreign policy.

1 day ago

Democrats: Google must protect privacy of abortion patients

More than 40 Democratic members of Congress are asking Google to stop what they see as the unnecessary collection and retention of peoples' location data.

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1 day ago

19 indicted in international drug money laundering scheme

Nineteen people have been indicted in a complex money laundering scheme to move millions of dollars in drug proceeds from Colombian cartels through U.S. banks.

1 day ago

US to end Russia's ability to pay international investors

The U.S. will close the last avenue for Russia to pay back its billions in debt to international investors on Wednesday, making a Russian default on its debts for the first time since the Bolshevik Revolution all but inevitable.

1 day ago

Stellantis, Samsung plan Indiana electric car battery plant

A joint venture between Stellantis and Samsung plans to build an electric vehicle battery factory in Indiana that will employ up to 1,400 workers and become the company’s second such factory in North America.

1 day ago

ExxonMobil loses bid to nix climate change lawsuit

Massachusetts’ highest court has rejected a bid by ExxonMobil to dismiss a lawsuit brought by the state that accuses the oil giant of misleading the public about the role its products play in causing climate change.

1 day ago

Hungary announces 'state of danger' over war in Ukraine

Hungary has declared a legal “state of danger” in response to the war in neighboring Ukraine, Prime Minister Viktor Orban announced Tuesday.

Morrisons rescues McColl's taking on all 16,000 staff

The supermarket chain has beaten a rival offer from EG Group which is owned by billionaire Issa brothers.

bbc.co.uk

Zara threatens legal action over Darlington boutique brand

The high street fashion giant claims Darlington-based House of Zana is "conceptually identical".

bbc.co.uk

John Lewis restores bonus as department store sales surge

The retailer is bringing back staff rewards after being forced to scrap them last year amid losses.

bbc.co.uk

What the IRS backlog means for you

The pandemic has caused a massive backlog at the IRS. The Post's Michelle Singletary explains how your taxes might be impacted this year.

washingtonpost.com
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A bill in the Arizona House would punish banks that refuse business from gun firms

Bankers are resisting the bill, calling it government overreach and saying lawmakers are creating a problem with a non-issue in Arizona.

npr.org

Indian tea start-ups search for an exotic edge

Indian tea start-ups are rediscovering indigenous ingredients for teas and infusions to stay ahead.

bbc.co.uk

Behind on your taxes? Here’s how to catch up

The Post’s personal finance columnist Michelle Singletary explains what to do if you haven’t filed your taxes consistently.

washingtonpost.com

Taxes on PayPal, Venmo and Zelle payments: What you need to know

Using Venmo, PayPal and Cash App to accept payments for your small business? Here’s what the new tax law says.

washingtonpost.com

Nottinghamshire grandfather bags £2,700 win from 3p bet

Janus Wagonback - known as George - successfully predicted 10 draws to get the big win.

bbc.co.uk

What's one thing young professionals can do to save for their future?

Personal finance columnist Michelle Singletary explains why saving for retirement is the best way to invest in your future.

washingtonpost.com

Covid: 'Plan B was a catastrophe for our coffee shop'

End of work-from-home guidance a boost for hospitality, while nightclubs welcome scrapping of covid passes.

bbc.co.uk

Panini: The sticker firm celebrating 60 years

How the football sticker maker survived a thieving tycoon and competition from Lycra-clad wrestlers.

bbc.co.uk

Where BlackRock Sees Value in India’s Biggest IPO

Paytm validates a model of digitization in which losing on individual-transaction take rates is more than made up by gains from handling billions of them.

washingtonpost.com
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Where BlackRock Sees Value in India’s Biggest IPO

Paytm validates a model of digitization in which losing on individual-transaction take rates is more than made up by gains from handling billions of them.

washingtonpost.com

Starbucks posts record quarterly sales thanks to US business

Starbucks on Thursday reported record quarterly sales thanks to its robust U.S. business that helped make up for weakness in China and other markets. The Seattle coffee giant said its North American same-store sales — or sales at locations open at least a year — jumped 22% in the July-September period. But same-store sales in China fell 7% as coronavirus cases once again disrupted store traffic. But that was still short of Wall Street’s forecast of $8.2 billion, according to analysts polled by FactSet. Adjusted for one-time items, Starbucks reported earnings of $1.00 per share.

wftv.com

Trump hotel lost $70M during presidency, got help from bank

Trump Business Washington Hotel FILE - This March 11, 2019 file photo, shows the north entrance of the Trump International in Washington. In addition to the payment delay, the Trump Organization also had to inject $27 million from other parts of its business to help the hotel, according to documents released by the House Committee on Oversight and Reform. The Trump Organization did not immediately respond to requests for comment. The hotel is leased by the federal government to the Trump Organization. Trump's company has been trying to sell the 263-room hotel since the fall of 2019 but has struggled to find buyers.

wftv.com

Labour: Has Sir Keir Starmer stood by his pledges?

As Sir Keir prepares for his first in-person conference as leader, we look at the promises he has made.

bbc.co.uk

Pimlico Plumbers sold to US firm Neighborly

The deal will see founder Charlie Mullins offload his 90% stake in the group.

bbc.co.uk

How Jana Partners could shake up telecom provider Vonage in a bid to boost value

Activist investor Jana Partners could look for different routes to improve Vonage’s value.

cnbc.com

First UK LGBT business champion appointed

Iain Anderson says he will work to "build a bridge" between the government and LGBT community.

bbc.co.uk

Ask Amy: Cowboy needs to wrangle human predators

His wife’s children and grandchildren don’t follow the rules of the ranch.

washingtonpost.com

East Chicago woman indicted for wire fraud in COVID aid scheme, feds say

The two counts against Natasha Weeks, 29, were filed Aug. 18 and unsealed Monday in the U.S. District Court in Hammond, according to filings.

chicagotribune.com
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Miss Manners: In a traffic dispute, shaking one’s head isn’t minding one’s own business

Pedestrian didn’t intend to interject, but “advice” was almost involuntary.

washingtonpost.com

Ask Amy: Post-divorce disclosure brings about dilemma

Ex-husband reveals that he had a son with another woman. Should reader tell her sons?

washingtonpost.com

The Amazon sellers who sold up and became millionaires

Small e-commerce entrepreneurs have thrived in lockdown - now big money wants to buy them out.

bbc.co.uk

Lady Gaga had a 'psychotic break' after sexual assault left her pregnant

The star says she had a "psychotic break" after being attacked by a male record producer.

bbc.co.uk

Illinois faces major challenges amid COVID fallout as Speaker Madigan struggles to hold on to power

Since no official business can be conducted by the House until a speaker is elected, a lengthy balloting process could ensue while pressing matters such as the state budget and pandemic recovery are held in abeyance. Madigan, some Democrats contend privately, is counting at the very least on attrition to eventually return him as speaker as issues mount.

chicagotribune.com

Chicago alderman who got contributions from pet store owner flips on anti-puppy mill law

“I don’t want to see anyone go out of business,” he said. “That was never the intent. But I would rather see them go out of business than see them sell dogs unethically and defraud the public.”

chicagotribune.com

Lobbying in Q1 topped a record $938 million, but lobbyists say their profession is misunderstood

In the first quarter of 2020, the total amount spent on lobbying, about $938 million, reached the highest on record, according to the Center for Responsive Politics. The health sector, which spent $168 million on lobbying efforts, received $150 billion in coronavirus relief aid, according to Advisory Board. The airline industry, which spent $29 million on lobbying, received $32 billion in relief aid, according to the Peter G. Peterson Foundation, and agribusiness, which spent $38 million, received $19 billion in aid, CRP said. The lobbying industry is arguably the U.S. government's oldest profession and is protected by the First Amendment. The misconception about lobbyists is that "we walk around with bags of money and say, 'Vote our way' or 'Oppose this.'

cnbc.com

Asia Today: Duterte easing lockdown in Philippine capital

The government continues to ease the lockdown which was set to prevent the spread of the new coronavirus in the country. Duterte made the televised announcement hours after the Department of Health reported a single-day spike of 539 infections, more than 60% of them in the congested capital. The Health Ministry's new figures on Friday show India now has 165,799 cases with 4,706 deaths, which both now exceed China. The figures announced by the Korea Centers for Disease Control and Prevention brought national totals to 11,402 infections and 269 deaths. China on Friday again reported no new daily increase in cases of coronavirus and no new deaths.

GOP lawyer fights California governor on stay-at-home orders

She is one of Californias two elected members of the Republican National Committee, and shes a co-chair of Women for Trump that is part of the presidents reelection campaign. She chaired the city's Republican Party before winning election as vice chair of the state GOP in 2013. The governor's policies and the policies of counties are falling more heavily on Democrats than Republicans because there are more Democrats than Republicans in the state, Dhillon said. Dhillon represented the California Republican Party in a successful challenge last year to a law aimed at requiring Trump to release his tax returns to be on the California ballot. In fact its reinforcing the bad image of the Republican Party," he said of Dhillon's recent lawsuits.

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Virus taking hold in rural, old plantation region of Alabama

In this May 27, 2020, photo, health care worker Tonya Wilkes adjusts her mask while working at a Lowndes County coronavirus testing site in Hayneville, Ala. (AP Photo/Jay Reeves)HAYNEVILLE, Ala. Sparsely populated Lowndes County, deep in Alabama's old plantation country, has the sad distinction of having both the states highest rate of COVID-19 cases and its worst unemployment rate. Lowndes and nearby poor, mostly black counties in rural Alabama are facing an increase in confirmed infections. I worry about Lowndes County, said Thomas. Dr. Scott Harris, the state health officer, said the state saw its highest number of new cases since the pandemic began in recent days.

White House punts economic update as election draws near

Paul Winfree, a former Trump White House director of budget policy, doubted that the holdup on the economic update was on Trump's radar. Maya MacGuineas, president of the Committee for a Responsible Federal Budget, noted that the law requires the White House to update its budget forecast. In 2017, the Trump administration criticized the Obama administration for rosy expectations of growth during the Great Recession more than a decade ago. An updated forecast in the mid-session review could make the Trump White House a similar target for criticism. This is a White House that is in denial about the trajectory of the economy.___Associated Press writers Alexandra Jaffe and Emily Swanson in Washington contributed to this report.

Asia shares fall as US-China tensions douse rally on Wall St

Shares fell Friday in Asia after Wall Streets rally petered out amid worries about flaring U.S.-China tensions. Benchmarks declined in Hong Kong, Tokyo and Sydney but rose in Shanghai. U.S. and Chinese officials have been trading harsh rhetoric recently on everything from Hong Kong to the response to the coronavirus outbreak. Chinas National Peoples Congress on Thursday approved a national security law aimed at suppressing secessionist and subversive activity in Hong Kong, overriding any potential opposition by local lawmakers. Its like lighting a match.Hong Kong's Hang Seng index dropped 0.6% to 23,007.15 on Friday, while Japan's Nikkei 225 index fell 0.2% to 21,877.89.

VW spending $2.2B to expand in China's electric car market

BEIJING Volkswagen is spending 2 billion euros ($2.2 billion) to expand its presence in Chinas electric car industry in the biggest foreign investment announced since the country's economy began to reopen following the coronavirus pandemic. Volkswagen AG said Friday it will buy control of its electric vehicle venture with a Chinese partner in a 1 billion euro ($1.1 billion) deal. The ruling Communist Party scrapped limits on foreign ownership of electric vehicle makers in 2018 to promote industry development. By gaining management control, Volkswagen is paving the way for more electric models and infrastructure, the companys announcement said. GM, Nissan, BMW AG and other automakers also have joint ventures with Chinese partners to develop lower-cost electric models.

Hello and welcome: robot waiters to the rescue amid virus

They came in just ahead of that time, said Hus daughter Leah, who also works at the restaurant, the Royal Palace. Their duties will include greeting customers, serving drinks and dishes and returning used glasses and crockery. We will use them to make sure the 1.5 meters (5 feet) we need during the corona crisis sticks, Leah Hu said. We want to give them a normal name," said Leah Hu. They help us with the work we do, said Leah Hu.

New Zealand near eradication, but virus has grim global hold

The latest job-loss figures from the U.S. Labor Department bring to 41 million the running total of Americans who have filed for unemployment benefits since the coronavirus shutdowns took hold in mid-March. In New Zealand, health authorities have not found any new virus cases for a week. That increased the overall death toll to more than 1,300 and the number of cases to over 64,000. And first-time applications for unemployment benefits have fallen for eight straight weeks, as states gradually let stores, restaurants and other businesses reopen and the auto industry starts up factories again. Worldwide, the virus has infected more than 5.8 million people and killed about 360,000, according to a tally by Johns Hopkins University.

French carmaker Renault announces 15,000 job cuts worldwide

The headquarters of French carmaker Renault is pictured in Boulogne-Billancourt, outside Paris, Monday, May 25, 2020. French President Emmanuel Macron is set to unveil sweeping new measures to rescue France's car industry, hammered by virus lockdown and the resulting recession. (AP Photo/Christophe Ena)PARIS Struggling French carmaker Renault on Friday announced 15,000 job cuts worldwide as part of a 2 billion-euro cost-cutting plan over three years. The group is also considering adaptation of its production capacities in Russia and announced the halt of Renault-branded oil-powered car activities in China. The French government is its single biggest shareholder with a 15-percent stake, and has been in talks on a 5 billion-euro loan guarantee.

The Latest: South Africa has backlog of nearly 100,000 tests

South Africa has backlog of nearly 100,000 unprocessed tests. ___JOHANNESBURG South Africa says it has a backlog of nearly 100,000 unprocessed tests for the new coronavirus. The ministry says one of the latest people to die in South Africa was an employee with the National Health Laboratory Services. Indonesia had recorded more than 24,500 COVID-19 cases as of Thursday with nearly 1,500 deaths, the most fatalities in Southeast Asia. Thailand has had just single-digit increases in the number of confirmed COVID-19 cases for most of May.

Roam close to home: Europe's tourists play safe in pandemic

Hotels, airlines, travel agents, tour operators, restaurants, local guides and car rentals saw income evaporate as lockdowns came into force. The dearth of tourists is particularly painful for some of the countries whose citizens and health care systems have suffered the most during the pandemic. Normally crowded travel hot spots such as Rome, Paris, Venice and Barcelona have at times appeared deserted in recent months. German Foreign Minister Heiko Maas has indicated that if conditions are right, he would soon like to remove 31 European countries from a travel warning issued in March. But with the risk of a second coronavirus wave and sudden lockdowns looming, Rascher said travelers might want to limit their horizons.

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No Eiffel, Mona Lisa or Versailles: Iconic sites stay closed

FILE - In this Oct.23, 2019 file photo, tourists wait to see Leonardo da Vinci's painting Mona Lisa, at the Louvre museum, in Paris. Iconic sites that are among some of France's biggest tourist draws won't reopen when the country lifts most of its coronavirus restrictions next week. Neither the Louvre Museum, the Eiffel Tower nor the Versailles Palace will be reopening next week when France lifts many of its remaining coronavirus lockdown restrictions. None of France's three most iconic tourist sites will reopen when the country lifts most of its remaining coronavirus lockdown restrictions next week. About 20%-30% of the museums rooms might be closed but of course the Mona Lisa will be open," Sacristin said.

AP Interview: French minister confident in virus tracing app

French Digital Affairs junior minister Cedric O demonstrates how to use the French app StopCovid meant to trace the virus' future spread on during an interview with the Associated Press in Paris, Friday, May 29, 2020. . France is the first major democracy to roll out such an app, and many people fear it invades their privacy. It will make France the first major world democracy to roll out such a tracing app. O said the app has been tested for two weeks and the government is confident that the data are protected. The French app uses low-energy Bluetooth signals on mobile phones to trace individuals that people infected with the virus come into close contact with.

Bosnia: Officials, firm owner arrested over ventilator deal

Civil protection workers move boxes of ventilators at the customs post in the Bosnia capital Sarajevo, Thursday, April 30, 2020. (AP Photo)SARAJEVO Bosnian authorities have detained two high-ranking state officials and the owner of a private company which imported 100 ventilators from China that were found to be useless for COVID-19 patients. The three are being investigated for money laundering, fraud, embezzlement of state funds and other crimes, the prosecutors were quoted as saying. The company owner has rejected accusations that he imported the ventilators at highly inflated prices. Bosnia, which went through a bloody civil war in the 1990s, is composed of the Muslim-Croat federation and a Serb entity.

EU says conditions needed in Lufthansa bailout, seeks deal

BRUSSELS The EU competition chief said Friday that she is not creating extra hurdles" for Lufthansa after the airline balked at accepting a 9 billion-euro German government rescue package because of what it said were tough EU conditions. Margrethe Vestager said that EU rules require bailouts to include measures that would maintain a level playing field. We very often have a discussion about slots when it comes to airlines and competition," Vestager said. Vestager said the EU wants to find a solution in the Lufthansa case and that the EU Commission remained in close contact with German authorities. The package conditions would also let the government block the possibility of an unwanted takeover.

Powell: Fed to soon begin 'challenging' Main Street lending

The Fed's Main Street Lending is geared toward medium-sized companies that are too large for the government's small business lending program and too small to sell bonds or stock to the public. Powell noted that the complexity of the program goes far beyond the Fed's usual lending efforts, which typically involve buying bonds. It is far and away the biggest challenge of the 11 facilities we have set up, Powell said. It has also announced 11 separate lending programs that are intended to support borrowing by businesses, banks and households. Still, Powell has previously said the unemployment rate is likely to peak at between 20% and 25% in May or June.

Questions on reopening New York's economy baffle businesses

Its an insult to every business in this community that has been struggling," said Picente, a Republican. Any day after is frustrating.As New York tries to get its economy going again, Gov. Andrew Cuomo, a Democrat, has divided the state into 10 regions that can start to reopen businesses in phases. The governors executive orders leave it up to his administration to decide when a region has met the states standards for lifting restrictions. Last week, Cuomo announced the hiring of two experts to analyze the data and consult on reopening decisions.

Nations ease more restrictions, air travel opening up more

A passenger waits to check his luggage at Belgrade Nikola Tesla Airport, Serbia, Thursday, May 21, 2020. Serbia's national carrier Air Serbia has resumed commercial flights as the government eased the lockdown against the new coronavirus. An Air Serbia flight from Serbias capital Belgrade was the first to land at the Ljubljana airport on Friday. Traffic relaunch at the airport is set in stages: Lufthansa, Montenegro Airlines and a Polish carrier should return by mid-June, while Swiss Air, Air Brussels, Transavio and British Airways will come next. Authorities in Thailand are relaxing some more restrictions that were imposed two months ago to combat the spread of the coronavirus.

US consumer spending sinks by record 13.6% in face of virus

WASHINGTON U.S. consumer spending plunged by a record-shattering 13.6% in April as the viral pandemic shuttered businesses, forced millions of layoffs and sent the economy into a deep recession. Last month's spending decline was far worse than the revised 6.9% drop in March, which itself had set a record for the steepest one-month fall in records dating to 1959. The depth of the spending drop is particularly damaging because consumer spending is the primary driver of the economy, accounting for about 70% of economic activity. Friday's report showed sharp declines in consumer spending across the board from durable goods like cars to non-durable items such as clothing and services ranging from doctor visits to haircuts. Spending in regular brick and mortar stores, which makes up the vast majority of consumer spending, is still down 35% from a year ago, according to Chase, after having plummeted 50% at its lowest point.

CNN crew arrested while reporting on Minneapolis protests

Protesters gather in front of a burning fast food restaurant Friday, May 29, 2020, in Minneapolis. Protests over the death of George Floyd, a black man who died in police custody Monday, broke out in Minneapolis for a third straight night. (AP Photo/John Minchillo)MINNEAPOLIS The Minnesota State Patrol on Friday arrested a CNN television crew as they reported on violent protests in Minneapolis following the death of George Floyd, a handcuffed black man who pleaded for air as a white police officer kneeled on his neck. Atlanta-based CNN said that the crew, which included CNN reporter Omar Jimenez, was released later Friday morning. Late Thursday in Minneapolis, cheering protesters torched a police station that the department abandoned as three days of violent protests spread to nearby St. Paul and angry demonstrations flared across the U.S.

New drugs make headway against lung, prostate, colon cancers

This microscope image made available by the National Cancer Institute Center for Cancer Research in 2015 shows human colon cancer cells with the nuclei stained red. Carroll jumped at the chance to help test a newer drug taken as a daily pill, AstraZenecas Tagrisso. A big drawback: It and other newer drugs are extremely expensive $150,000 or more a year. PROSTATE CANCERMen with advanced prostate cancer often are treated with medicines to suppress male hormones that can help the cancer grow. After a year, 55% on Keytruda were alive without worsening cancer versus 37% on chemo.

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