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Latest Financial and Business News

  • World
    Associated Press Finance

    Soviet ex-premier Nikolai Ryzhkov, who vainly tried to prevent USSR's economic meltdown, dies at 94

    Nikolai Ryzhkov, a former Soviet prime minister who presided over botched efforts to shore up the crumbling national economy in the final years of the USSR, has died. During his six-year tenure, Ryzhkov worked to implement Soviet leader Mikhail Gorbachev's liberal reforms that lifted rigid centralized controls and encouraged private initiatives, but failed to adapt to the quickly changing economic and political environment, setting the stage for the 1991 Soviet collapse. Ryzhkov's death was announced Wednesday by Valentina Matviyenko, the speaker of the upper house of Russian parliament where he served until October and was the oldest member.

  • Business
    Reuters

    Exclusive-Allegiant expects fewer aircraft from Boeing as US planemaker faces quality issues

    Low-cost U.S. carrier Allegiant expects fewer aircraft deliveries from Boeing this year, its president told Reuters, as the planemaker grapples with the fallout of a frightening incident last month when a cabin panel tore off of a 737 MAX 9 jet mid-flight. The Las Vegas-based airline was scheduled to receive 24 MAX planes in 2024, but Allegiant President Greg Anderson said it is working on the assumption that it will receive closer to 12 aircraft this year. "We are in regular dialogue with Boeing on this," he said in an interview on Tuesday.

  • World
    Reuters

    UPDATE 1-Tens of thousands flee in new wave of brutal Mozambique attacks

    Tens of thousands of Mozambicans are fleeing their homes in the restive Cabo Delgado province amid a surge in deadly insurgent attacks since January. The attacks, despite a massive security clampdown, are continuing as French oil company TotalEnergies aims to restart a $20 billion liquefied natural gas terminal in Cabo Delgado in the coming months. Recent attacks include a deadly skirmish on Feb. 9 that claimed the lives of up to 25 Mozambique Defence Armed Force soldiers, according to local media reports, a significant blow to government efforts to quell violence during an election year.