AP Business SummaryBrief At 6:33 A.m. EDT | News | Register-Herald.com Beckley Register-Herald
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Allies aim for risky Russian oil price cap as winter nears
WASHINGTON (AP) — U.S. officials celebrated at the start of September when top allies agreed to back an audacious, never-before-tried plan to clamp down on Vladimir Putin’s access to cash. The countries would pay only cut-rate prices for Russian oil. That would deprive Putin of money to keep prosecuting his war in Ukraine, but also ensure that oil kept gushing out of Russia and kept global prices low. But nearly a month later, the organization made up of some of the world’s leading economies, the Group of Seven, is still figuring out how to execute their plan and gather participants.
Rebel violence in eastern Congo causes hunger to soar
NYIRAGONGO, Congo (AP) — Humanitarian workers say hunger is now soaring in eastern Congo after months of fighting between M23 rebels and the army. An internal draft assessment by aid groups seen by The Associated Press says nearly 260,000 people are facing extreme food insecurity in Nyiragongo and Rutshuru territories. But only 10% of those targeted by aid groups this year received the full recommended food assistance. That’s because of a lack of funds and security concerns that has restricted access to some areas. Health staff at one hospital said that the number of severely malnourished children had nearly tripled between April to July.
Ukraine presses counteroffensive after Russian setback
KYIV, Ukraine (AP) — Russia has attacked the Ukrainian president’s hometown with suicide drones and Ukraine pushed ahead with its counteroffensive that has embarrassed the Kremlin. Ukraine took back control of a strategic eastern city, Lyman, which it had been using as a transport and logistics hub. That’s a new blow to the Kremlin as it seeks to escalate the war by illegally annexing four regions of Ukraine. Ukrainian President Volodymyr Zelenskyy said more Ukrainian flags are flying in what was recently Russian-occupied territory. His hometown was among targets of suicide drones in the latest fighting Sunday.
UK’s Truss sticks by economic plan as her party worries
LONDON (AP) — British Prime Minister Liz Truss has acknowledged she could have done a better job “laying the ground” for her package of unfunded tax cuts. But she insisted Sunday that she would push on with an economic plan that has caused turmoil on financial markets and weakened the country’s public finances. Truss acknowledged that the U.K. faces “a very turbulent and stormy time” but said her policies would lead to a “high-growth, low-tax economy” in the longer term. The comments are unlikely to calm Truss’s Conservative Party. The party opens its four-day annual conference on Sunday amid plunging poll ratings and growing public discontent.
Latvian premier’s party emerges on top in general election
HELSINKI (AP) — Prime Minister Krisjanis Karins’ ruling center-right party has won the most votes in Latvia’s general election and centrist parties were runners-up. Pro-Moscow parties crashed in a vote Saturday that was shaped by neighboring Russia’s war in Ukraine and divisions among the Baltic country’s sizable ethnic Russian minority. More than 97% of the votes were counted and initial results showed on Sunday that Karins’ New Unity party had taken 18.9% of votes. Th opposition Greens and Farmers Union was second with 12.8% and the new centrist electoral alliance United List was third with 11%.
Ruptured oil pipeline off California approved for repairs
LOS ANGELES (AP) — A federal agency has given a Texas oil company approval to repair a pipeline that ruptured a year ago and spilled tens of thousands of gallons of crude off the Southern California coast. The U.S. Army Corps of Engineers granted the approval Friday to Amplify Energy Corp. The Houston company pleaded guilty to federal charges last month of negligently discharging oil. The spill in October 2021 closed miles of beaches and shuttered fisheries for months. Environmentalists who want the operation off Huntington Beach shut down criticized the permit and called for quickly phasing out offshore oil drilling.
Chinese billionaire Richard Liu settles US rape allegation
MINNEAPOLIS (AP) — JD.com founder Richard Liu has agreed to settle a lawsuit from a former University of Minnesota student who alleges he raped her after a night of dinner and drinks in 2018. Attorneys for Richard Liu and the woman, Jingyao Liu, released a joint statement Saturday night saying the case was settled. They did not disclose a settlement amount, but said the incident resulted from a misunderstanding and they agreed to settle their differences. Richard Liu was arrested on suspicion of felony rape in August 2018. Prosecutors never filed charges, saying the case had “profound evidentiary problems.” He stepped down as JD.com’s CEO this year amid increased government scrutiny of China’s technology industry.
Nobel season is here: 5 things to know about the prizes
COPENHAGEN, Denmark (AP) — The beginning of October means Nobel Prize season. Six days, six prizes, new faces from around the globe added to the world’s most elite roster of scientists, writers, economists and human rights leaders. This year’s Nobel season kicks off Monday with the medicine award, followed by daily announcements: physics on Tuesday, chemistry Wednesday and literature on Thursday. The 2022 Nobel Peace Prize will be announced on Friday and the economics award on Oct. 10. Each prize is worth 10 million kronor (nearly $900,000).
10 torture sites in 1 town: Russia sowed pain, fear in Izium
IZIUM, Ukraine (AP) — Russian torture in Izium was arbitrary, widespread and absolutely routine for both civilians and soldiers throughout the city, an AP investigation has found. AP journalists located 10 torture sites in the Ukrainian town, including a deep sunless pit in a residential compound, a clammy underground jail that reeked of urine, a medical clinic, and a kindergarten. AP also spoke to 15 survivors of Russian torture and confirmed the deaths of eight men. All but one were civilians. The AP found a former Ukrainian soldier who was tortured three times hiding in a monastery, and connected him with loved ones.
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