Business Highlights: Fed nominee, war impact on supply chain

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Embattled Federal Reserve pick Raskin withdraws nomination

WASHINGTON (AP) — Sarah Bloom Raskin, under fire from Senate Republicans for her views on climate change and financial regulation, has withdrawn her name from consideration for a key post on the Federal Reserve’s Board of Governors. Raskin’s nomination was stuck in the Senate Banking Committee after Republican senators boycotted a vote on it. Sen. Joe Manchin, a Democrat from West Virginia, said Monday that he also opposed her, dooming her chances of winning confirmation in the full Senate.

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War in Ukraine disrupts key supply chains – and lives

It can be hard to measure the ways that Russia’s war in Ukraine has disrupted the global supply of parts and raw materials needed to manufacture products ranging from cars to computer chips. But it’s a visceral feeling for Andrey Bibik, head of the Interpipe steel plant in Dnipro, Ukraine, who spent the first day of the war turning his bustling operation into an empty…