National Business - The Morning Sun

FILE --International Atomic Energy Agency (IAEA) Director General, Rafael Grossi, addresses a news conference during an IAEA Board of Governors meeting in Vienna, Austria, Monday, Feb. 6, 2023. The head of the International Atomic Energy Agency is set for another four-year term at the helm of the United Nations' nuclear watchdog as it grapples with monitoring Iran's nuclear activities and tries to shore up the safety of power plants in Ukraine. (AP Photo/Heinz-Peter Bader, file)

Grossi set for second term at helm of UN nuclear watchdog

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The head of the International Atomic Energy Agency is set for another four-year term at the helm of the United Nations’ nuclear watchdog as it grapples with monitoring Iran’s nuclear activities … more

3/10/23

FILE - In this March 24, 2020 file photo, a Chase bank employee, right, cleans the branches ATMs as a customer uses another in the Flushing neighborhood of the Queens borough of New York. Shares of some banks are falling in premarket trading on Friday, March 10, 2023, following SVB Financial Group’s announcement that it plans to raise up to $1.75 billion in order to strengthen its position amid concerns about higher interest rates and the economy. (AP Photo/Mary Altaffer, File)

Banks feel sting of Fed fight against inflation

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The banking sector is in retreat, as it has been all week, as the effects of the Federal Reserve’s fight against inflation begins to weigh heavily on a small number of banks that cater to the tech … more

Associated Press | 3/10/23

FILE - Eggs in a box at a supermarket in Frankfurt, Germany, on Aug. 4, 2017. The humble egg has become a star performer for all the wrong reasons as inflation has hit households across the European Union extremely hard over the year. The EU's statistical agency Eurostat announced Friday March 10, 2023 that an egg _ that important staple for poor families and gourmet cooks alike _ had risen by 30 percent over the year to January 2023, becoming a symbol how the cost of living has hit all. (AP Photo/Michael Probst, File)

In the EU's inflation crisis, the humble egg takes the cake

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The humble egg has become a star performer for all the wrong reasons as inflation has hit households across the European Union extremely hard over the year. The EU’s statistical agency Eurostat … more

By RAF CASERT | 3/10/23

FILE - A sign at a BP petrol station in London, Feb. 7, 2023. Total pay for British energy giant BP's CEO more than doubled to $12 million last year, the company said Friday, March 10, 2023 as oil and gas companies raked in record profits fueled by soaring energy costs that have also fueled a cost of a living crisis. (AP Photo/Kirsty Wigglesworth, File)

BP CEO pay doubles to $12M as high energy costs surge profit

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Total pay for BP’s CEO more than doubled to $12 million last year. The disclosure Friday from the London-based energy giant came a day after rival Shell reported a similar multimillion-dollar pay … more

By KELVIN CHAN | 3/10/23

Hundreds of used cars covered in snow in Corby, Northamptonshire, England, Friday March 10, 2023. The Met Office has issued warnings for northern England, the Midlands, North Wales and Northern Ireland, where "significant disruption" to transport and power supplies is expected. (Joe Giddens/PA via AP)

Schools shut, drivers stuck as gales and blizzards batter UK

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Trains have been canceled, schools shut and drivers stuck for hours as a blast of snow and wind hits Britain for the second time in a week. The worst-hit area Friday was northern England and north … more

3/10/23

A man holding a flag with an image of Turkey's founder Mustafa Kemal Ataturk waits with others as Kemal Kilicdaroglu, the leader of the pro-secular, center-left Republican People's Party, or CHP, is nominated by a six-party alliance as its common candidate to challenge President Recep Tayyip Erdogan, in Ankara, Turkey, March 6, 2023. The alliance on Monday nominated main opposition party leader Kilicdaroglu to challenge Erdogan in elections in May, ending months of uncertainty and bickering that had frustrated their supporters. (AP Photo/Burhan Ozbilici)

Erdogan sets May 14 election date as he seeks to extend rule

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Turkish President Recep Tayyip Erdogan has formally set the country’s parliamentary and presidential elections for May 14. That's a month earlier than scheduled despite last month’s devastating … more

By SUZAN FRASER | 3/10/23

FILE - Chinese Foreign Ministry spokesperson Mao Ning gestures during a press conference at the Ministry of Foreign Affairs in Beijing, Oct. 13, 2022. China on Friday, March 10, 2023 accused Canada of smearing its reputation over allegations China is secretly operating two overseas police stations in Quebec. (AP Photo/Liu Zheng, File)

China accuses Canada of smearing over secret police stations

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China has accused Canada of smearing its reputation over allegations China is secretly operating two overseas Chinese police stations in Quebec. Foreign Ministry spokesperson Mao Ning said Friday … more

3/10/23

A Ukrainian paratrooper of 95 Air Assault brigade aims to fire by MSLR BM-21 "Grad" towards Russian positions at the frontline near Kreminna, Ukraine, Thursday, March 9, 2023. (AP Photo/Evgeniy Maloletka)

Ukraine rebounds from Russian barrage, restores power supply

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Officials in Kyiv say Ukraine's capital has restored most of its power supply as the country again responds swiftly and defiantly to the latest Russian barrage targeting critical infrastructure. The … more

By KARL RITTER | 3/10/23

FILE - President of the European Commission, Ursula von der Leyen, left, speaks with President Joe Biden at the global meeting of G20 leaders in Nusa Dua, Bali, Indonesia, Nov. 15, 2022. (Leon Neal/Pool Photo via AP, File)

Biden, EU leader to discuss proposal on electric vehicles

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President Joe Biden and European Commission President Ursula von der Leyen are set to unveil a plan the White House hopes will help turn the page on the ongoing spat between the U.S. and the European … more

By AAMER MADHANI and RAF CASERT | 3/10/23

FILE - A hiring sign is displayed at a grocery store in Arlington Heights, Ill., Friday, Jan. 13, 2023. A strong job market has helped fuel the inflation pressures that have led the Federal Reserve to keep raising interest rates. (AP Photo/Nam Y. Huh, File)

Is inflation still surging? Jobs report will provide clues

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A month ago, the government dropped a bombshell jobs report that showed that America’s employers added a sizzling half-million-plus positions in January — twice the December gain and far more … more

By CHRISTOPHER RUGABER | 3/10/23

FILE - Kazuo Ueda, a nominee for the governor of the Bank of Japan, speaks at the lower house of parliament in Tokyo on Feb. 24, 2023. The appointment for the next head of Japan’s central bank won parliamentary approval Friday, March 10, tasking a new monetary leadership with the challenge of steering the world’s third largest economy through inflation and other looming risks. (Sadayuki Goto/Kyodo News via AP, File)

Japan parliament OKs Ueda as BOJ chief to tackle inflation

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Japan's parliament has approved the central bank's appointment of Kazuo Ueda as its new chief. He'll be tasked with the challenge of steering the world’s third-largest economy through inflation and … more

By YURI KAGEYAMA | 3/9/23

Malaysia's former Prime Minister Muhyiddin Yassin waves as he arrives at courthouse for a corruption charges in Kuala Lumpur, Malaysia, Friday, March 10, 2023. Muhyiddin, who led Malaysia from March 2020 until August 2021, will be the country's second leader to be indicted after leaving office. (AP Photo/Vincent Thian)

Malaysia ex-PM Muhyiddin pleads innocent in corruption case

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Former Prime Minister Muhyiddin Yassin has been charged with corruption and money laundering, making him Malaysia’s second ex-leader to be indicted after leaving office. Muhyiddin pleaded innocent … more

3/9/23

FILE - Ramesh "Sunny" Balwani, the former lover and business partner of Theranos CEO Elizabeth Holmes, arrives at federal court in San Jose, Calif., on Dec. 7, 2022. On Thursday, March 9, 2023, a federal judge rejected Balwani’s bid to remain free while he appeals his conviction for crimes he committed during a blood-testing scam that he orchestrated with Elizabeth Holmes. (AP Photo/Jeff Chiu, File)

Theranos exec Sunny Balwani loses bid to delay prison term

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A federal judge has rejected former Theranos executive Ramesh “Sunny” Balwani’s bid to remain free while he appeals his conviction for crimes he committed during a blood-testing scam he … more

By MICHAEL LIEDTKE | 3/9/23

FILE - Former 21st Century Fox executive Hernan Lopez arrives at federal court in Brooklyn, Jan. 17, 2023, in New York. Lopez was convicted Thursday, March 9, 2023, of paying tens of millions of dollars in bribes to nab broadcasting rights to the World Cup and other top soccer matches. (AP Photo/John Minchillo, File)

Split verdict for ex-Fox execs in soccer rights bribe case

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A former Fox executive has been convicted of paying tens of millions of dollars in bribes to nab broadcasting rights to the World Cup and other top soccer matches. A second ex-executive was … more

By BOBBY CAINA CALVAN | 3/9/23

FILE - American Airlines planes sit stored at Pittsburgh International Airport on March 31, 2020, in Imperial, Pa. The CEO of American Airlines said Tuesday, March 7, 2023, he is ready to give pilots raises and higher retirement contributions that would average 40% over four years to match a contract recently approved by pilots at Delta Air Lines. (AP Photo/Gene J. Puskar, File)

American Airlines promises raises for pilots, matching Delta

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American Airlines is promising significant pay raises to pilots to match a recent deal at rival Delta Air Lines. American's CEO Robert Isom says he's ready to give pilots raises and higher retirement … more

By DAVID KOENIG | 3/9/23

FILE - An egret looks for food along Valhalla Pond in Riverview, Fla.. on Dec. 11, 2018. The House on March 9, 2023, voted to overturn the Biden administration’s protections for thousands of small streams, wetlands and other waterways, advancing long-held Republican arguments that the regulations are an environmental overreach and burden to business. The vote was 227-198 to overturn the rule. (AP Photo/Chris O'Meara, File)

House GOP votes to overturn Biden rule on water protections

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The House has voted 227-198 to overturn the Biden administration’s protections for thousands of small streams, wetlands and other waterways, advancing long-held Republican arguments that the … more

By MATTHEW DALY and MICHAEL PHILLIS | 3/9/23

FILE - The Federal Reserve interest rate announcement is displayed on the floor of the New York Stock Exchange in New York on Feb. 1, 2023. Companies that piled on debt throughout the pandemic and the economic recovery could be in for a tough road ahead as the bills come due. Corporate borrowers will have to pay more of that debt back as refinancing grows more difficult with rising interest rates. (AP Photo/Seth Wenig, File)

Corporate borrowers squeezed by rising rates

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Companies that piled on debt throughout the pandemic and the economic recovery could be in for a tough road ahead as the bills come due. Corporate borrowers will have to pay more of that debt back as … more

By DAMIAN J. TROISE | 3/9/23

Roger Ng, center, a former Goldman Sachs banker, leaves federal court with his lawyers Zach Intrater, left, and Teny Geragos, right, after being sentenced to 10 years in prison for his role in looting a Malaysian development fund, Thursday March 9, 2023, in New York. (AP Photo/Bebeto Matthews)

Ex-Goldman Sachs banker gets 10 year sentence for fraud

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A former Goldman Sachs banker has been sentenced to 10 years in prison for his role in looting a Malaysian development fund. The stolen money paid for billions of dollars in bribes and kickbacks that … more

By BOBBY CAINA CALVAN | 3/9/23

FILE - Daniel Werfel testifies before the Senate Finance Committee during his confirmation hearing to be the Internal Revenue Service Commissioner, Wednesday, Feb. 15, 2023, on Capitol Hill in Washington. (AP Photo/Mariam Zuhaib, File)

IRS nominee Daniel Werfel confirmed by Senate vote

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The U.S. Senate has confirmed Daniel Werfel to serve as commissioner of the Internal Revenue Service by a vote of 54-to-42. Werfel, who pledged before senators not to expand tax audits on businesses … more

By FATIMA HUSSEIN | 3/9/23

FILE - Karol Cardinal Wojtyla, archbishop of Krakow, Poland, foreground, arrives to take part in Oct. 22, 1971 working session of the World Synod of Bishops at the Vatican. Pope St. John Paul II knew about sexual abuse of children by priests under his authority and sought to conceal it when he was an archbishop in his native Poland, according to a television news report. In a story that aired late Monday, March 6, 2023, Polish channel TVN24 named three priests whom the future pope then known as Archbishop Karol Wojtyla had moved among parishes during the 1970s, including one who was sent to Austria, after they were accused of abusing minors. (AP Photo/Gianni Foggia)

John Paul abuse claims trigger angry reaction from Poland

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The fallout over an explosive Polish television report alleging that St. John Paul II covered up clergy sex abuses cases is escalating. Poland’s Catholic Church has strongly defending “one of the … more

By MONIKA SCISLOWSKA | 3/9/23