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New York CNN — Party City filed for bankruptcy protection on Tuesday, weighed down by competition and years of financial losses. The largest party and Halloween specialty retailer in the United States said in a filing that it has reached an agreement with debt holders to reduce its $1.7 billion debt burden. The company said … Read more
New York CNN — Anheuser-Busch may no longer be the only alcohol brand advertising during the Super Bowl, but it will still have a big presence — even if rivals seize the opportunity after a 33-year drought. The beer company announced Thursday that it will have three minutes of national airtime during this year’s big … Read more
CNN — The clock is now ticking to avoid a financial crisis. The US hit its debt ceiling on Thursday, prompting the Treasury Department to take extraordinary measures to avoid bankruptcy. While Treasury Secretary Janet Yellen doesn’t expect the US to default before early June, Congress needs to get serious about negotiating a solution, which … Read more
Paris/London CNN — Trains and flights were canceled in France, primary schools were closed and thousands of police officers were deployed as unions staged nationwide strikes on Thursday to protest the government’s plan to raise the retirement age for most workers. Protests in major French cities, including Paris, Marseille, Toulouse, Nantes and Nice, halted transport. … Read more
London CNN — For decades, business leaders, billionaires and politicians have gathered in Davos, Switzerland, under the banner of forging bonds that can help solve global problems. It’s a glitzy exercise that’s often criticized as unattainable. It also seems increasingly outdated as Europe’s biggest war since 1945 deepens the splits in the global economy. This … Read more
CNN — Swedish climate activist Greta Thunberg was released by German police on Tuesday evening after being detained earlier in the day at a protest against the expansion of a coal mine in the western village of Lützerath, police confirmed to CNN on Wednesday. Thunberg was only held for a short time. Once (Thunberg’s) identity … Read more
Tokyo CNN — Tokyo’s Supreme Court on Wednesday acquitted three former Tokyo Electric Power Company (Tepco) executives and found them not guilty of manslaughter following the 2011 triple reactor meltdown at the Fukushima Daiichi nuclear power plant, Japanese public broadcaster NHK reported Wednesday. The Supreme Court ruling was a decision on an appeal against a … Read more
Seoul, South Korea CNN — As China continues to grow what is already the largest navy in the world, a professor at the US Naval War College has a warning for US military planners: In naval warfare, the larger fleet almost always wins. Writing in the January issue of the US Naval Institute’s Proceedings magazine, … Read more
London CNN — Grain leaves Ukrainian ports again. Fertilizer prices are falling sharply. Billions of dollars in aid have been mobilized. Yet the world is still in the grip of the worst food crisis in modern history, as the Russian war in Ukraine shakes global farming systems already grappling with the effects of extreme weather … Read more
New York CNN — The richest citizens of the world have become much richer in the past two years, much faster than everyone else. The top 1% acquired nearly twice as much new wealth as the rest of the world in that period, according to Oxfam’s annual inequality report released on Sunday. Their fortunes increased … Read more
