BRUSSELS (AP) — A new day of high-level, high-stakes diplomacy beckons with European leaders striving to reinvigorate stalled peace talks between Russia and Ukraine, as Moscow and NATO allies put on a show of resolve by continuing to mobilize their forces. Here’s a look at what is happening where and why: AFTER MOSCOW, ALL EYES…
By Saikat Chatterjee LONDON (Reuters) – The euro weakened on Tuesday after European Central Bank President Christine Lagarde tried to rein in interest rate hike expectations that lifted the currency to a three week-high last week. The ECB’s hawkish twist last week took markets by surprise and sent yields on peripheral euro zone debt surging…
Peloton is replacing its CEO, cutting jobs and reining in ambitious expansion plans after badly misjudging the staying power of the exercise-at-home trend that propelled its sales early in the pandemic. John Foley first pitched the idea for Peloton in 2011, hoping to disrupt the industry. He will give up the CEO position and become…
BRUSSELS (AP) — The European Union announced a $48 billion plan Tuesday to become a major semiconductor producer, seeking to curb its dependency on Asian markets for the component that powers everything from cars to hospital ventilators and game consoles. At a time when natural gas shortages and Europe’s reliance on Russia for energy shows…
COVID-19 vaccine sales boosted Pfizer earnings well past fourth-quarter expectations, but the drugmaker has set a lower-than-expected bar for 2022. Pfizer debuted on Tuesday annual forecasts for both earnings and revenue that fell short of analyst expectations even as the drugmaker expects another robust year of sales from its vaccine, Comirnaty, and its new coronavirus…
(Reuters) – CoverGirl parent Coty Inc posted quarterly revenue below estimates on Tuesday, as stringent COVID-19 curbs in some markets hurt demand for its high-end cosmetics and perfumes. Sales in Coty’s prestige division increased just 12% in the second quarter, compared with a 34% jump in the first, following stop-start lockdowns in Australia and New…
BERLIN (AP) — Germany’s health minister on Tuesday decried calls from the main opposition party to suspend the implementation of a COVID-19 vaccination mandate for health workers, saying this would send a dangerous signal that authorities are caving to anti-vaccine protests. Parliament in December approved the legislation that will require staff at hospitals and nursing…
WASHINGTON (Reuters) – U.S. small business confidence fell to an 11-month low in January amid persistent worker shortages and higher prices for materials, a survey showed on Tuesday. The National Federation of Independent Business said its Small Business Optimism Index dropped 1.8 points to 97.1 last month, the lowest reading since February 2021. Scarce workers…
BRUSSELS (Reuters) – The European Commission on Tuesday set out a billion-euro plan to boost its chip industry, including making it easier for EU governments to provide funding for first-of-a-kind factories, as the bloc tries to cut its dependence on U.S. and Asian companies. The move by the EU executive mirrors the $52 billion U.S….
LONDON (AP) — BP PLC reported its biggest full-year profit for eight years on Tuesday, its coffers boosted by soaring oil and gas prices that have hiked domestic fuel bills for millions of people. The British energy giant said its underlying replacement cost profit — the industry standard — was $12.8 billion for 2021, compared…
