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AP National Business

Yellen: Russia’s invasion will have ‘enormous repercussions’

By FATIMA HUSSEIN Associated Press WASHINGTON (AP) — Treasury Secretary Janet Yellen has told a House panel that Russia’s actions in Eastern Europe “will have enormous economic repercussions in Ukraine and beyond.” Yellen said Wednesday that globally, “spillovers from the crisis” are heightening economic vulnerabilities in many countries that are already facing higher debt burdens

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US charges Russian oligarch, dismantles cybercrime operation

By ERIC TUCKER and MICHAEL BALSAMO Associated Press WASHINGTON (AP) — The Justice Department has charged a Russian oligarch with sanctions violations and has taken down a cybercrime operation controlled by a Russian military intelligence agency. Attorney General Merrick Garland announced the actions at a news conference Wednesday. The case against against Konstantin Malofeyev accuses

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French prosecutors to probe McKinsey over alleged tax fraud

PARIS (AP) — French financial prosecutors have opened a preliminary investigation into suspected tax fraud by American management consulting firm McKinsey & Company. The national financial prosecutor’s office said Wednesday the investigation was launched last week for alleged “money-laundering aggravated by tax fraud.” A report by the French Senate issued last month said McKinsey hadn’t

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White House to extend student loan pause through August

By COLLIN BINKLEY and ZEKE MILLER Associated Press WASHINGTON (AP) — The Biden administration plans to freeze federal student loan payments through Aug. 31, extending a moratorium that has allowed millions of Americans to postpone payments during the coronavirus pandemic. The decision was confirmed by an administration official familiar with the White House’s decision-making. Student

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Germany shuts down darknet platform specializing in drugs

BERLIN (AP) — German investigators have shut down a Russian-language darknet marketplace that they say specialized in drug dealing. They seized bitcoin worth 23 million euros ($25.3 million). Prosecutors in Frankfurt on Tuesday described the “Hydra Market” platform as the world’s biggest darknet marketplace. They said they seized its server infrastructure in Germany. The shutdown

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Harvard students’ site helping Ukraine refugees find housing

By RODRIQUE NGOWI Associated Press CAMBRIDGE, Mass. (AP) — Two Harvard University freshmen have launched a website designed to connect people fleeing Ukraine to those in safer countries willing to take them in. The platform, UkraineTakeShelter.com, is generating offers of help and housing worldwide. Eighteen-year-old Marco Burstein of Los Angeles and 19-year-old Avi Schiffmann of

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McDonald’s workers reach settlement deal over harassment

By DEE-ANN DURBIN AP Business Writer Former McDonald’s workers who alleged rampant sexual harassment at their Michigan restaurant have reached a $1.5 million settlement agreement with the restaurant’s former owner. The American Civil Liberties Union’s Women’s Rights Project announced the settlement deal Monday. It must still be approved by a federal judge. Former McDonald’s worker

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Sri Lanka’s sports minister quits, Cabinet offers to resign

By KRISHAN FRANCIS and BHARATHA MALLAWARACHI Associated Press COLOMBO, Sri Lanka (AP) — Sri Lanka’s sports minister and the president’s nephew, Namal Rajapaksa, has resigned from his position amid growing public outrage over the country’s economic crisis and shortages of food, fuel and medicines. Education Minister Dinesh Gunawardena told reporters late Sunday that the entire

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