Global stocks down…Shanghai relief?

TOKYO (AP) — Global shares have tracked losses on Wall Street after Federal Reserve Chair Jerome Powell indicated increases in interest rates must be faster to fight inflation. Most major indexes declined today, though Shanghai edged higher after authorities there promised to ease anti-virus controls on truck drivers that are hampering food supplies and trade. Oil prices fell more than $2 a barrel.

BEIJING (AP) — Officials in Shanghai have promised to ease anti-virus controls on truck drivers that are hampering food supplies and trade, while city streets are still largely empty after millions of people were allowed out of their homes. A deputy mayor is promising “every effort” to resolve problems that prompted complaints about lack of access to food and fears that the shutdown might disrupt global trade. An official says Shanghai will forgive rent for six months for some 80,000 small enterprises in government-owned buildings.

UNDATED (AP) — Sweden is helping Ukraine rebuild “a secure electricity supply” by sending equipment to repair its networks destroyed in the war. Sweden’s energy minister says a secure supply is necessary “to maintain socially important activities in Ukraine.” Sweden received a request from Ukraine via the European Network of Transmission System Operators to contribute equipment for repairing electricity networks. Sweden’s energy ministry says the equipment to Ukraine will be taken from Sweden’s emergency stock and won’t affect the Swedish emergency preparedness.

ALBUQUERQUE, N.M. (AP) — Independent federal investigators say there are significant issues related to fire training at the U.S. government’s nuclear waste repository in New Mexico. The U.S. Energy Department’s Office of Inspector General also found that firefighting vehicles at the Waste Isolation Pilot Plant are in disrepair from years of neglected maintenance. Federal officials say they’re making changes to address the issues. The repository is the backbone of a multibillion-dollar program for cleaning up tons of Cold War-era waste from past nuclear research and bomb making.

PARIS (AP) — French prosecutors have issued an international arrest warrant for disgraced auto tycoon Carlos Ghosn (gohn), who fled Japan in 2019 for Lebanon in a gripping escape. Prosecutors say the arrest warrant for the former head of Nissan and Renault is one of five it has issued. It’s based on an investigation opened in 2019 into money laundering and abuse of company assets reportedly over millions in alleged suspect payments made between the Renault-Nissan alliance and Suhail Bahwan Automobiles (SBA), a vehicle distributor company in Oman, owned by billionaire Suhail Bahwan. The Nanterre investigation is one of two separate cases involving Ghosn in France, focusing on payments made to SBA.

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