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Official at automaker FCA US pleads guilty in scheme to withhold emission systems information

An official at automaker FCA US, formerly known as Chrysler Group, has pleaded guilty in federal court in a scheme to withhold emission systems information on more than 100,000 vehicles.

Emanuele Palma's plea to conspiring to violate the Clean Air Act was announced Thursday by the Justice Department. Palma, 43, is scheduled to be sentenced Oct. 17 in federal court.

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Biden visits Philly shipyard as he courts organized labor and pushes green jobs

Flanked by cranes and shipyard workers, President Joe Biden made the pitch Thursday that unions will be building America's renewable energy future — a courtship of organized labor at a moment when some major unions are weighing strikes that could disrupt the growth he wants to campaign on in 2024.

The president toured the Philly Shipyard, where there was a steel-cutting ceremony for the Acadia, a vessel that will help to build offshore wind farms. Biden ticked through the various union jobs being created by the project, promoting a message he has started to amplify as he seeks a second term.

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UK banking boss apologizes to populist politician Farage over the closure of his account

The chief executive of U.K. bank NatWest Group has apologized to populist politician Nigel Farage after he complained that his bank account was shut down because the banking group didn't agree with his political views.

Farage, a talk show presenter and former leader of the pro-Brexit U.K. Independence Party, said his account with the prestigious private bank Coutts, owned by NatWest Group, was closed down unfairly.

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Sri Lankan president's visit to India signals growing economic and energy ties

Sri Lanka and India signed a series of energy, development and trade agreements on Friday, signaling growing economic ties between the neighboring countries.

Sri Lankan President Ranil Wickremesinghe arrived in New Delhi a day earlier for the official visit, his first since taking up the top job last year after an economic meltdown forced his predecessor to flee.

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Stock market gains help pave way for IPO resurgence in 2023 after worst year since Great Recession

A strong stock market turnaround is helping spur a resurgence in companies going public a year after the number of Wall Street newcomers fell to the lowest level since the Great Recession.

Some 55 initial public offerings, or IPOs, have priced so far this year, raising $9.7 billion in proceeds, according to IPO tracker Renaissance Capital. Last year, 71 companies went public, raising $7.7 billion.

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Will BDL vice governors resign after yesterday's 'discouraging' meeting?

The Central Bank’s four vice governors – Wassim Mansouri, Bashir Yakzan, Salim Chahine and Alexander Mouradian – might resign, a central Bank vice governor said.

The vice governor told al-Akhbar newspaper, in remarks published Friday, that the vice governors' meeting with the Parliament's Administration and Justice Committee was not "encouraging."

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Turkey hikes interest rates to battle inflation

Turkey's central bank raised its key interest rate Thursday, another sign of commitment to a traditional path of battling inflation but still falling below expectations after critics blamed President Recep Tayyip Erdogan's economic policies for inflaming a cost-of-living crisis.

The 2.5 percentage point hike — putting the rate at 17.5% — came a month after the bank unleashed a 8.5% increase, a reversal after more than a year of rate-cutting prompted by Erdogan.

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Thousands of UK hospital doctors walk out in latest pay dispute

Thousands of senior doctors in England began a 48-hour walkout Thursday to demand better pay and conditions, paralyzing hospitals and leaving only emergency care covered.

The severe disruptions are the latest in months of industrial action by public sector workers amid U.K.'s ongoing cost-of-living crisis. They come just two days after junior doctors staged the longest strikes in the history of the state-funded National Health Service.

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Yellen visits Vietnam to build US ties and supply chains, offset tensions with China

The U.S. considers building strong economic and security ties with Vietnam a priority, U.S. Treasury Secretary Janet Yellen said Thursday as she met with Vietnamese officials in a visit aimed at fortifying America's relations across Asia.

Yellen arrived in Vietnam after visits to Beijing and to India, where she attended financial meetings of the Group of 20 major industrial economies.

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BDL vice governors submit comprehensive financial plan to MPs

The Central Bank vice governors sent Thursday a preliminary comprehensive plan to the Parliament's Administration and Justice Committee.

The plan "enables the correction of the monetary policy, and starts the recovery process. Its major objective is to float the exchange rate in a managed manner on an internationally recognized exchange platform, so that it reflects the real value of the Lebanese Pound," Wassim Manssouri, Bachir Yakzan, Salim Chahine, and Alexander Mouradian said.

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