Salem Radio Network News Tuesday, July 5, 2022

Business

BUSINESS UPDATE

DELHI (AP) — India is restricting its sugar exports to 10 million tons in the current season to help maintain domestic availability and keep prices stable. The decision follows a similar measure for wheat and comes amid signs of tightening world supplies. India is the second-largest producer and biggest consumer of sugar. It’s the second-largest exporter of sugar in the world.

UNDATED (AP) — The Russian military says the key Ukrainian port of Mariupol is functioning again after three months of fighting. A Russian Defense Ministry spokesman says the military has finished clearing the port of mines and it is now fully operational. Russian forces have taken control of Mariupol, the strategic port on the Sea of Azov, after the last Ukrainian defenders at the giant Azovstal seaside steel plant laid down their weapons.

UNDATED (AP) — Pfizer says it will provide nearly two dozen products at not-for-profit prices in some of the world’s poorest countries. That includes its top-selling COVID-19 vaccine and treatment. The pharmaceutical giant says it is launching a program aimed at improving health equity in 45 lower-income countries. Most of those nations are in Africa. The drugmaker aims to provide medicines and vaccines that treat infectious diseases, some cancers and rare and inflammatory conditions.

BERLIN (AP) — Commodities firm Glencore says it has reached deals with authorities in the United States, Britain and Brazil to resolve corruption allegations in return for penalties totaling up to $1.5 billion. The Anglo-Swiss company says it will pay $700 million to resolve a U.S. bribery probe and a further $486 million in connection with allegations of market manipulation. Glencore says about $166 million in fines agreed with U.S. authorities will be credited to a parallel investigation by the UK Serious Fraud Office, where it has indicated that it will plead guilty to bribery at a hearing next month.

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Bob Gorrell
Mon, Jun 27, 2022

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