Yahoo News

(Bloomberg) — Italy’s Finance Police detained superyachts of sanctioned Russian billionaires, as authorities around the world ratchet up the pressure on the country’s elite following the invasion of Ukraine. Most Read from Bloomberg Gennady Timchenko’s Lena was seized in the coastal city of Sanremo in compliance with European Union sanctions, according to a statement from Prime Minister Mario Draghi’s office on Saturday. A media adviser to Draghi said on Twitter on Friday that police… Source link

In early 2020, an accounting scandal at Luckin Coffee blindsided its American stockholders as the coffeehouse chain’s stock price fell to the floor. Luckin Coffee highlighted a problem: American investors knew little of Chinese company financials while the stocks trade freely on U.S. exchanges. The incident sparked questions regarding whether other crises involving U.S.-listed Chinese companies lurked around the corner. Congress acted to stop the next Luckin by passing the Holding Foreign… Source link

For more business and finance explainers, check out our Yahoo U page. Economic sanctions on Russia following the country’s invasion of Ukraine have sent the Russian ruble for a tailspin. Following several measures from Western countries to isolate Russia’s economy, the ruble lost over 30% of its value against the U.S. dollar. A devaluing currency makes sense, given sanctions on Russia’s largest banks and the severance of other firms from the international banking system known as… Source link

Huang Yu-ting made waves at the Beijing Olympics for wearing a China uniform. (Photo by Elsa/Getty Images) Taiwan will cut two years worth of funding for speed skater Huang Yu-ting after she was pictured wearing a China uniform prior to last month’s Beijing Olympics. Taiwan’s Sports Administration released a statement on Thursday, saying the decision was made based on “Huang Yu-ting’s repeated controversial words and deeds during the preparation and participation in the Beijing Winter… Source link

Utah State volleyball player Kristy Frank was one of many Ukrainians abroad to watch in horror as Russia commenced its unprovoked invasion of her homeland. The Kyiv native currently lives in Logan, Utah, but her family remained in the country. In a video released by the Aggies, Frank recalled seeing videos of explosions in her city on her friends’ social media feeds. She cried on a phone call with her father when he said there were explosions nearby. In another call, her mother told her a… Source link

Brian Griese is headed back to the league. The former “Monday Night Football” analyst is leaving ESPN and will become the next quarterbacks coach with the San Francisco 49ers, according to ESPN’s Adam Schefter. Griese will replace Rich Scangarello in San Francisco, who left to become Kentucky’s offensive coordinator. It will mark his first coaching job in the NFL. Griese has been at ESPN since he retired in 2009. He spent a decade in the league, starting with the Denver Broncos after… Source link

During his State of Union address Tuesday night, President Joe Biden touted his plans for the economy, as well as his plans to combat fraud and identity theft rife in pandemic relief programs like the Paycheck Protection Program (PPP). The COVID pandemic relief programs disbursed more than $800 billion over two years by the government to help small businesses stay afloat. The loans, which helped owners use that money to pay for payroll and other eligible expenses, also led to widespread… Source link

One thing is going right for President Biden. The job market remains hot, with businesses hiring just about anybody they can find. Employers added 678,000 jobs in February, far more than economists expected. The February report was uniformly solid, with gains in nearly every sector. Upward revisions to job growth in the two prior months show that the surge of the Omicron COVID variant had little to no effect on hiring. This may not benefit Biden at all, politically. Americans are now… Source link

In a new interview with Yahoo Finance, California Attorney General Rob Bonta explained why he and eight other attorneys general are investigating the effects of short-form video site TikTok on young users. “There is mounting evidence, as we’ve seen — that of the devastating toll that social media has on our children’s mental health and their well being,” Bonta told Yahoo Finance Live on Thursday. “And we want to know what TikTok knew about those harms to children, when they knew it,… Source link

DHL North America plans to add hundreds of robots to its workforce. The robot, called Stretch, was developed by Boston Dynamics for warehouse operations in direct response to labor shortages and increasing logistics volume. A $15 million investment and multi-year agreement between DHL North America and Boston Dynamics will begin with roughly 30 Stretch robots. “Our strategy is to reduce our dependency on labor, which is hard to find in the market currently, and improve the type of positions… Source link