BRUSSELS (AP) — After the political outrage against Russia comes the economic reckoning. Finance ministers of the 19 countries that use the euro gathered Friday in Paris to weigh the economic fallout of Russia’s invasion of Ukraine and the resulting European Union sanctions. The EU, and allies like the U.S., are trying to starve Russia…
By Joan Faus BARCELONA (Reuters) -Cellnex remains interested in expanding into Germany Europe’s largest mobile phone tower operator said on Friday after it reported a 63% rise in adjusted core earnings in 2021 to 1.92 billion euros ($2.15 billion). Telecom towers have been the target of several big takeovers in the past few years and…
MOSCOW (Reuters) – Russia’s biggest carmaker Avtovaz may suspend some assembly lines at its Togliatti plant in central Russia on Monday for a day due to a persistent global shortage of electronic components, it said in a statement on Friday. Avtovaz, controlled by French carmaker Renault, plans to resume its Togliatti operations in full on…
By Leigh Thomas and Jan Strupczewski PARIS (Reuters) – The European Union is ready to bear the economic pain of imposing sanctions on Russia, which is likely to come mainly from higher energy prices, top EU finance officials said on Friday. EU leaders agreed on Thursday to impose new sanctions on Russia’s financial, energy and…
By Dominique Vidalon PARIS (Reuters) -Casino shares slumped on Friday after the supermarket group reported a 12% drop in operating profit on lower sales last year and reignited investor concerns over high debts and low cash flows. The French retailer, which has been selling assets to cut debt, said the pandemic had slowed the pace…
HELSINKI (Reuters) – Finland’s Nokian Tyres said on Friday it was shifting production of selected key product lines from Russia to Finland and the United States to prepare for possible future sanctions following Russia’s invasion of Ukraine. The company has also begun transporting tyres out of Russia to warehouses closer to its customers, a spokesperson…
BRUSSELS (AP) — The United States and European allies said Friday they were stepping up sanctions over Russia’s invasion of Ukraine by adding measures directly targeting President Vladimir Putin and his foreign minister, putting diplomatic appeals to one side as Russia’s forces closed on Ukraine’s capital. The move by the U.S., the European Union and…
PARIS (Reuters) -French Finance Minister Bruno Le Maire said on Friday the option of cutting off Russia from the SWIFT global interbank payments system remained open, but that he viewed this only as a last resort. The United States and the European Union opted not to cut Russia off from SWIFT as part of toughened…
LONDON (Reuters) – British Airways-owner IAG is not experiencing the same issues as Qatar Airways with surface degradation of paint on the Airbus A350 jets it operates, Chief Executive Luis Gallego said on Friday. “We don’t have the same type of issues that Qatar has, and we are operating A350s, and we have not had…
By John Revill ZURICH (Reuters) -Holcim is confident it can handle energy price spikes caused by the Ukraine crisis, CEO Jan Jenisch said on Friday, after the world’s biggest cement-maker reported fourth-quarter earnings slightly ahead of forecasts. The Swiss company expects “very limited” direct impact from the conflict, which has driven fuel costs higher, retaining…
