Russia’s Black Sea hub of Novorossiysk was closed for several hours after an attack on a naval vessel, though the Defense Ministry in Moscow said the overnight assault by two naval drones was repelled without damage to port facilities.
Toyota Motor Corp. and two partners in China are setting up a joint venture aimed at bringing self-driving electric vehicles to the masses.
Carl Icahn’s fortune fell $2.7 billion Friday after the activist investor made corporate changes in tacit response to a short seller’s scathing report published three months ago.
Former Goldman Sachs Group Inc. banker Roger Ng was granted a last-minute postponement of his 10-year prison sentence for his role in the looting of Malaysian sovereign wealth fund 1MDB.
Two Federal Reserve officials said slower US employment gains suggest the labor market is coming into better balance, arguing the central bank may soon need to pivot to thinking about how long to hold interest rates at elevated levels.
The paper adds to a growing body of research that points to productivity costs of working from home full-time.
The Canadian economy unexpectedly shed jobs last month even as wages grew faster, signaling a softening labor market that will likely pave the way for the Bank of Canada to hold rates steady.
Wheat futures rose more than 4%, paring a weekly loss, after an attack forced a major Russian grain-shipping hub to temporarily close.
Former Treasury Secretary Lawrence Summers said that while the path to a soft landing for the US economy looks more likely than it previously did, his concern now is the danger of inflation picking up steam again.
President Vladimir Putin approved a windfall profit tax on large Russian companies as the government seeks additional sources of income for the budget against the backdrop of massive spending on its war in Ukraine.
