Wall Street reels, then recovers after invasion of Ukraine – ABC News

TOKYO — Asian shares rose Friday after U.S. Hong Kong’s Hang Seng added nearly 0.2% to 22,941.59, while the Shanghai Composite rose 0.8% to 3,456.39. Earlier in the week, Japan suspended new issuances and distribution of Russian government bonds in Japan, aimed at reducing funding opportunities for Russia. “The market pivot came after the announcement […]

Saudi Arabia gives 4% of Aramco worth $80B to sovereign fund – ABC News

It will go to the Public Investment Fund, the kingdom’s sovereign wealth fund, which has been Prince Mohammed’s vehicle to invest in everything from Uber to British soccer team Newcastle United. “His Highness added that the transfer of these shares is part of the kingdom’s long-term strategy aimed at supporting the restructuring of the national […]

Israeli bigwigs eye profits from cannabis legalization – ABC News

ASHKELON, Israel — Not too long ago, Ehud Olmert was trying to lead Israel to a historic peace agreement. Olmert is among a group of former Israeli leaders and security chiefs who have found new careers in the country’s tightly controlled medical cannabis industry. “Everything will change dramatically overnight if there will be legalization,” Olmert, […]

In California pot market, a hazy line between legal and not – ABC News

Inside are hundreds of head-high cannabis plants in precise rows, each rising from a pot nourished by coils of irrigation tubing. In the five years since California voters approved a broad legal marketplace for marijuana, thousands of greenhouses have sprouted across the state. The cultivator who operates the grow north of Sacramento holds a coveted […]

Double dealing: Legal, illicit blur in California pot market – ABC News

Inside are hundreds of head-high cannabis plants in precise rows, each rising from a pot nourished by coils of irrigation tubing. In the five years since California voters approved a broad legal marketplace for marijuana, thousands of greenhouses have sprouted across the state. The cultivator who operates the grow north of Sacramento holds a coveted […]

EU rejects merger of SKorean shipbuilders Daewoo, Hyundai – ABC News

Under EU rules, the European Commission can reject mergers even outside its borders because they would affect markets in the 27-nation bloc if the companies do business there. “It does not matter where the merging firms are located,” Vestager said. The EU’s move came as the 27-nation bloc is struggling with a natural gas shortage […]

Stocks rise after 3-day slump over virus, inflation worries – ABC News

“The market was oversold, and so it got like a stretched rubber band and we had a sharp snapback today,” said Sam Stovall, chief investment strategist at CFRA. Supply chain shortages and higher raw material costs have been hitting businesses, which have passed the higher costs off to consumers. Rising inflation has also prompted the […]

Leftist millennial wins election as Chile’s next president – ABC News

Augusto Pinochet’s 1973-1990 dictatorship and raise taxes on the “super rich” to expand social services, fight inequality and boost protections of the environment. Kast, who has a history of defending Chile’s past military dictatorship, finished ahead of Boric by two points in the first round of voting last month but failed to secure a majority […]

Germany acknowledges mistakes 5 years after Berlin attack – ABC News

19, 2016, an Islamist terrorist plowed through a crowd of Christmas market-goers in a large truck, killing 12 people and injuring dozens more in the German capital. In the years since the attack, the German government has faced criticism for its handling of Anis Amri, a rejected asylum-seeker from Tunisia who carried out the attack. […]

Live updates: Quebec limits businesses to 50% capacity – ABC News

The announcement comes as the state’s seven-day rolling average of daily new coronavirus cases has risen over the past two weeks from 1,340.29 on Nov. Health officials said Thursday that they are already concerned about hospital capacity, and the spread of the contagious new omicron variant of the virus could make the situation worse. “It […]

Omicron stalks UK jobs market after previous fears allayed – ABC News

The Office for National Statistics found that the number of workers on payroll rose by a record 257,000 in November to a record 29.4 million. The variant’s emergence over the past couple of weeks has created renewed uncertainty over the economic outlook, raising the specter of renewed job losses as firms respond to lower demand. […]

California proposes reducing incentives for rooftop solar – ABC News

SACRAMENTO, Calif. The CPUC said the reforms are designed to make the program, known as “net energy metering,” more cost effective and to ensure energy grid operation costs are shared fairly. California now has 1.3 million solar systems on homes, far more than any other state, according to the solar industry. They say more needs […]