SEOUL – North Korea denied supplying Russia with artillery shells, days after the Biden administration alleged that Pyongyang was seeking secret ways to supply weapons to Moscow’s war with Ukraine. The United States suspects North Korea of sending a significant number of artillery shells to Russia through countries in the Middle East and North Africa, … Read more
Supply chain technology provider project44 has postponed plans for a possible public offering amid uncertainty in markets, and is instead turning to more venture capital investments to expand its company’s tracking of goods through global transportation networks. Chicago-based project44, one of a number of supply chain software startups that have drawn billions of dollars in … Read more
The Indian state government of Gujarat opened a criminal investigation into the agency tasked with maintaining a historic cable-stayed bridge after the popular attraction collapsed on Sunday under the weight of hundreds of visitors, killing more than 130 people. Harsh Sanghavi, the state’s home minister, told reporters that an investigation under criminal law provisions regarding … Read more
OTTAWA—Bank of Canada Gov. Tiff Macklem says the central bank is moving toward a meeting-by-meeting approach on further interest rate increases, based on how the economy responds to its rapid-fire tightening of financial conditions. “We do expect that interest rates will need to go higher, to get inflation all the way back to the inflation … Read more
Online retailer Shein is on track to generate revenue of $24 billion this year, according to people close to the company, putting it within striking distance of the world’s largest fast-fashion giants—just a decade since its founding. Shein, which was started in China and is now based in Singapore, has grown rapidly thanks to a … Read more
Russia’s growing use of Iranian drones in Ukraine poses a growing threat to the United States and its European allies as Tehran seeks to project military power across the Middle East. In recent weeks, Ukrainian officials say, Russia has launched more than 300 Iranian drones that have targeted military units, power plants and civilian buildings … Read more
Workers’ wages and benefits rose rapidly in the third quarter compared to a year earlier, maintaining pressure on inflation. The employment cost index, a measure of what employers pay for wages and benefits, rose 5% in the third quarter from the same period a year earlier, the Labor Department said Friday. It was a slightly … Read more
Credit Suisse Group AG CS -1.03% said it would raise $4 billion in fresh capital from a Saudi bank and other investors to fund a retreat from Wall Street and recover from a near-existential crisis. The Swiss bank said it would sharpen its market trading businesses and rebrand its capital markets and advisory business as … Read more
Brazil’s central bank left its benchmark lending rate unchanged but warned again that it is prepared to resume hikes if the country’s inflation does not continue to ease as expected. The bank’s monetary policy committee, known as Copom, left its key Selic rate at 13.75% for the second meeting in a row. The committee had … Read more
Deutsche Bank AG’s DB 2.54% net profit rose sharply in the third quarter as it charged higher interest on loans and traded more currencies and bonds for clients in a volatile market. But in a sign of challenges ahead, Germany’s biggest bank set aside more money to cover possible defaults from borrowers amid a looming … Read more