IBT Staff Reporter

Most Gulf central banks lifted their main interest rates by three quarters of a percentage point on Wednesday, moving with the U.S.

U.S. banks JPMorgan Chase & Co, Citigroup and Wells Fargo raised their prime lending rates by 75 bps to 5.5% on Wednesday to reflect the Federal Reserve's latest interest rate move.

The United States has made "a substantial offer" to Russia to release U.S.

The United States has made "a substantial offer" to Russia to release U.S.

Mostly reassuring financial results from Alphabet Inc included one concerning sign for social media companies: Its YouTube service posted its second difficult quarter in a row.

Security researchers at Microsoft have said an Austrian firm was behind a string of digital intrusions at banks, law firms and strategic consultancies in at least three countries.

Portugal's largest listed bank, Millennium bcp, reported on Wednesday a five-fold rise in first-half net profit, boosted by solid core income and strict cost cutting, despite high provisions at its Polish subsidiary.

The U.S. Senate on Wednesday passed sweeping legislation to subsidize the domestic semiconductor industry, hoping to boost companies as they compete with China and alleviate a persistent shortage that has affected everything from cars, weapons, washing machines and video games.

A majority of the U.S. Senate on Wednesday backed sweeping legislation to subsidize the domestic semiconductor industry, hoping to boost companies as they compete with China and alleviate a persistent shortage that has affected everything from cars to washing machines.

China needs to rethink its zero-COVID policy to avoid more harm to the economy, as well as come up with a long-term solution to the crisis in the real estate sector, a senior International Monetary Fund (IMF) official said in an interview.

French construction materials group Saint-Gobain on Wednesday posted record half-year operating income and confirmed guidance for the year, despite the pandemic, supply chain disruptions and inflation, the firm said.

Finding enough seafarers willing to sail ships stuck inside Ukraine's ports is set to pose a major challenge to the proposed grains corridor designed to ease an international food crisis.

Europe's largest food retailer Carrefour said on Wednesday it was confident about the second half of the year after reporting higher first-half operating profit and raising its 2022 cost-savings target amid accelerating inflation.

Pope Francis to address Canada's political leaders in Quebec

Ulrich Koerner, a Porsche fan and rally driver, will need all his navigation skills to steer loss-making Credit Suisse towards profitability as the Swiss bank embarks on yet another campaign to get back on solid ground.

Neymar to go on trial in Spain just before World Cup

U.S. President Joe Biden celebrated his recovery from COVID-19 on Wednesday with an appeal to Americans to get vaccinated and a comparison of his mild symptoms and work-from-home performance to the more serious case experienced by his predecessor.

The European Union found evidence that smartphones used by some of its staff were compromised by an Israeli company's spy software, the bloc's top justice official said in a letter seen by Reuters.

Fourth person 'cured' of HIV, but is a less risky cure in sight?

Fed poised to attack inflation with another interest rate hike

Teva Pharmaceutical Industries on Wednesday forecast mid-single digit revenue growth over the next five years as it strives to move on from its high debt and an overhang from thousands of lawsuits over its alleged role in the U.S.

Teva Pharmaceutical Industries projected on Wednesday mid-single digit revenue growth over the next five years as it tries to move on from its high debt and an overhang from thousands of lawsuits over its alleged role in the U.S.

Two former Minneapolis police officers were sentenced on Wednesday on federal charges stemming from the murder of George Floyd, the Black man who was killed when their colleague Derek Chauvin kneeled on his neck during an arrest.

Two former Minneapolis police officers were sentenced on Wednesday on federal charges stemming from the murder of George Floyd, the Black man who was killed when their colleague Derek Chauvin kneeled on his neck during an arrest.

A former Minneapolis officer on Wednesday was sentenced to three years in prison on federal charges stemming from his role in George Floyd's murder, more than the punishment meted out to another policeman who also stood by while a senior officer, Derek Chauvin, killed the Black man.

Two former Minneapolis officers are due to be sentenced on Wednesday on federal charges stemming from their role in the 2020 death of George Floyd, an incident that sparked protests around the globe against police brutality and racism.

Spirit Airlines Inc canceled its $2.7 billion sale to Frontier Group Holdings Inc on Wednesday after Spirit shareholders balked at supporting it, leaving JetBlue Airways Corp with an opening to clinch a deal.

Spirit Airlines Inc cancelled its $2.7 billion sale to Frontier Group Holdings Inc on Wednesday after Spirit shareholders balked at supporting it, leaving JetBlue Airways Corp with an opening to clinch a deal.

Spirit Airlines Inc will go ahead with a vote on its sale to Frontier Group Holdings Inc on Wednesday, with its shareholders expected to shoot it down, according to people familiar with the matter.