This week, markets woke to news that Russia invaded its neighbor Ukraine. Tensions mounted for weeks. Most believed Russia would wait for the Olympics to end. Well, the closing ceremonies were Sunday and Putin wasted no time on his military threat. What is the impact on the global economy? The conflict impacts an already challenged…
FRANKFURT (Reuters) – Volkswagen will halt production for a few days next week at two German factories after a delay in getting parts made in Ukraine, a spokesperson confirmed on Friday. The supply chain shortage will affect factories in Dresden and Zwickau, the spokesperson said, confirming a report by DPA. (Reporting by Tom Sims; Editing…
FRANKFURT, Germany (AP) — Even as gunfire sounded in Ukraine’s capital, natural gas kept flowing normally Friday through the major pipelines from Russia to Europe. But the invasion and accompanying sanctions are casting a shadow over longstanding energy ties, both for the coming weeks and longer term. The world is already facing high energy prices…
BRUSSELS (Reuters) – Excluding Russia from the global SWIFT system of interbank payments should be an option given the scale of Moscow’s invasion of Ukraine, Dutch Foreign Affairs Minister Wopke Hoekstra said in Friday. “When you see what is happening (in Ukraine) … you have to look at all means possible when it comes to…
WASHINGTON (Reuters) – The trade relationship between the United States and China is “extremely difficult and getting more difficult,” U.S. Trade Representative Katherine Tai said on Friday. Tai said she has been meeting with China since early October to “hold China accountable” to meet its commitments in the Phase 1 trade deal between the two…
(Reuters) – Tobacco giant Philip Morris International Inc said on Friday it would temporarily suspend its operations in Ukraine, including at its factory in Kharkiv, following the Russian invasion of the country. Philip Morris said it has one factory and more than 1,300 employees in the country, and has contingency plans in place to restart…
WASHINGTON (AP) — An inflation gauge that is closely monitored by the Federal Reserve jumped 6.1% in January compared with a year ago, the latest evidence that Americans are enduring sharp price increases that will likely worsen after Russia’s invasion of Ukraine. The figure reported Friday by the Commerce Department was the largest year-over-year rise…
By Giuseppe Fonte and Valentina Za ROME (Reuters) – Italy is looking at overhauling listing, voting and other rules to address the “chronic delays” holding back the country’s capital markets and boost Milan’s ability to compete with European peers, a Treasury document seen by Reuters showed. With an overall capitalisation of 800 billion euros ($890…
MOSCOW (Reuters) – French carmaker Renault will suspend its car assembly plant in Moscow next week due to “forced change in existing logistic routes” that are causing component shortages, it said on Friday. Renault said that Moscow production will stop on Feb 28-March 5, adding that “increased border controls in transit countries” were also making…
By Devik Jain (Reuters) – U.S. stock indexes were set for a weaker open on Friday, a day after staging a dramatic late rally, as developments around a raging war in Ukraine kept investors on edge. The United States, the European Union and some other countries responded to Moscow’s invasion of Ukraine with a wave…
