BALTIMORE — Federal agents have boarded a vessel managed by the same company as a cargo ship that caused the deadly Baltimore bridge collapse, the FBI has confirmed. In statements Saturday, spokespeople for the FBI and the U.S. Attorney’s Office in Maryland confirmed that authorities have boarded the Maersk Saltoro. The ship is managed by … Read more
The budget motel chain Motel 6 is being acquired by the parent company of Oyo, a hotel operator based in India. The New York-based investment firm Blackstone, which owns Motel 6’s parent company G6 Hospitality, announced Friday that the deal would be an all-cash transaction worth $525 million. The transaction will also include the sale … Read more
Getty Images The US central bank lowered interest rates for the first time in four years on Wednesday. The much anticipated move will influence mortgages, credit card and saving rates for millions of people in the US – and even around the world. The Federal Reserve reduced the key lending rate by half a percentage … Read more
NEW YORK — The effort to save the pale blue dot called Earth is all about the green — that is, the money to finance a transition to renewable energy sources like wind and solar. The annual Climate Week NYC and United Nations General Assembly combination is putting special emphasis on how to generate trillions … Read more
Getty Images The US central bank has lowered interest rates for the first time in more than four years with a bigger than usual cut. The Federal Reserve reduced the target for its key lending rate by 0.5 percentage points, to the range of 4.75%-5%. Jerome Powell, the head of the bank, said the move … Read more
PHNOM PENH, Cambodia — Cambodian Prime Minister Hun Manet said he was pulling his country out of a development agreement with neighboring Vietnam and Laos following protests that it was benefiting foreign interests. Critics on social media have focused on land concessions in border areas particularly with Vietnam, a highly sensitive issue because of Cambodia’s … Read more
Announcing the decision to hold rates in September, governor Andrew Bailey said cooling inflation pressure means the Bank should be able to cut interest rates gradually over the upcoming months. But, he added, “it’s vital that inflation stays low, so we need to be careful not to cut too fast or by too much”. The … Read more
High street retailer Next has warned it may be forced to close stores if its appeal against a landmark equal pay ruling fails. An employment tribunal in August found that 3,500 shop staff, who are predominantly female, had been discriminated against because they were paid less than their mainly male colleagues in warehouses. In half-year … Read more
An engine fire on a Cathay Pacific Airbus A350 earlier this month was the result of a fuel leak and could have caused extensive damage to the plane, according to investigators. Hong Kong’s flagship airline grounded planes after being forced to turn a flight around a couple of weeks ago because of an “engine component … Read more
Getty Images Interest rates are “now gradually on the path down”, the Bank of England governor has said after borrowing costs were held at 5%. Andrew Bailey said inflation had “come down a long way” but warned the Bank would need to see more evidence that it will remain low before cutting rates further. The … Read more