Financial News

February Student of the Month
February 23, 2022
AP-NC Newswatch
February 24, 2022
Financial News

 

Financial News:

 

World stocks plunge…Some Honda braking problems?

BEIJNIG (AP) – World stock markets have plunged and oil prices surged by nearly $6 per barrel after President Vladimir Putin launched Russian military action in Ukraine. Market benchmarks tumbled in Europe and Asia and Wall Street futures were sharply lower. Brent crude oil jumped to over $100 per barrel on unease about possible disruption of Russian supplies. The ruble sank 7.5% against the U.S. dollar. The European Union said it planned “massive and targeted” sanctions on Russia. Surging prices for oil and other commodities are an added worry for investors already uneasy about the possible impact of the Federal Reserve’s plans to try to cool inflation.

 

WASHINGTON (AP) – Just what a vulnerable world economy didn’t need – a conflict that accelerates inflation, rattles markets and portends trouble for everyone from European consumers to indebted Chinese developers and families in Africa that are enduring soaring food prices. Russia’s attack on Ukraine and retaliatory sanctions from the West may not portend another global recession. Yet the conflict is threatening to inflict severe economic damage for some countries and industries – damage that could mean hardships for the millions of people. Any escalation of the crisis could derail Europe’s economic recovery by sending already elevated energy prices ever higher.

 

BEIJING (AP) – China has repeated calls for talks to resolve the crisis in Ukraine while refusing to criticize Russia’s attack and accusing the U.S. and its allies of worsening the situation. In a move that could help reduce the impact of Western sanctions against Moscow, China also approved imports of Russian wheat. The Foreign Ministry spokesperson told reporters at a daily briefing that the Ukraine issue is “complex in its historical background … what we are seeing today is the interplay of complex factors.”

 

DETROIT (AP) – U.S. auto safety regulators are investigating complaints that the automatic emergency braking systems on more than 1.7 million newer Hondas can stop the vehicles for no reason. The National Highway Traffic Safety Administration says it has 278 complaints that the problem can happen in 2017 through 2019 CR-Vs and 2018 and 2019 Accords. In some cases the owners complained of unexpected speed reductions that could cause increased risk of rear collisions.

 

LAS VEGAS (AP) – The more than $6 billion sale of Venetian properties on the Las Vegas Strip is now complete. The new and old owners of the Venetian and Palazzo casino resorts and the former Sands Expo and Convention Center say gamblers, conventioneers and hotel guests should see few changes. New York-based VICI Properties bought assets associated with the Venetian Resort Las Vegas and the Venetian Expo for $4 billion. Apollo Global Management acquired Venetian operations for $2.25 billion. Las Vegas Sands Corp., the company led by Sheldon Adelson until his death last year, will effectively cease U.S. operations to focus on properties in Asia.