Category Business

South African leader skips Davos amid electricity crisis

JOHANNESBURG — South African President Cyril Ramaphosa has canceled his trip to the World Economic Forum in Davos in order to deal with his country’s worsening power blackouts. Ramaphosa’s office made the announcement in a statement late Sunday. He had…

Silicon Valley Bank collapse concerns founders of color

In the hours after some of Silicon Valley Bank’s biggest customers started pulling out their money, a WhatsApp group of startup founders who are immigrants of color ballooned to more than 1,000 members. Questions flowed as the bank’s financial status…

Shipbuilder Austal executives accused of inflating earnings

MONTGOMERY, Ala. — Three current and former former executives of a shipbuilder that constructs vessels for the U.S. Navy have been indicted on accounting fraud charges accusing them of falsely inflating the company’s reported earnings, federal prosecutors said. Craig Perciavalle,…

Shares gain in Asia after China relaxes more COVID rules

BANGKOK — Shares advanced Tuesday in Asia after China announced it would relax more of its pandemic restrictions despite widespread outbreaks of COVID-19 that are straining its medical systems and disrupting business. China’s National Health Commission said Monday that passengers…