PARIS (Reuters) – Casino on Friday said it was confident it would recover sales momentum this year in France as the pandemic eases and improve cash flow generation after reporting a 12% fall in 2021 group operating profit to 1.193 billion euros ($1.34 billion). The French retailer, which has been selling assets to cut debt,…
NEW YORK (AP) — Wall Street capped a turbulent week of trading Friday with a broad rally for stocks as relief flowed through the market, even as deadly attacks raged in Ukraine. Oil fell and investors turned away from gold and other traditional havens they favor when fear is high. The S&P 500 climbed 2.2%…
HELSINKI (Reuters) – Finnish premium department store chain Stockmann on Friday posted a rise in fourth-quarter earnings and said it expected the positive development to continue as long as no major COVID-19 restrictions are imposed anymore. The 160-year-old retailer, which has gone through heavy cost cutting and debt management, said its October-December operating profit was…
By Liangping Gao and Ryan Woo BEIJING (Reuters) -Shaken by a liquidity crunch among developers, China’s property market is expected to stay soft in the first half of 2022 before rebounding later in the year as policies aimed at encouraging buyers helps sentiment recover, a Reuters poll showed. Having been a pillar of strength for…
By Emily Chow BEIJING (Reuters) – Oil prices jumped nearly 3% on Friday as Russia’s invasion of Ukraine stoked global supply concerns as markets brace for the potential impact of trade sanctions on major crude exporter Russia. Global benchmark Brent crude rose $2.72, or 2.75%, to $101.80 a barrel around 0347 GMT on Friday, after…
By Kantaro Komiya TOKYO (Reuters) – Japan’s industrial output likely fell for a second month in January as the fast spread of the Omicron COVID-19 variant disrupted car production, a Reuters poll showed. While the coronavirus outbreak is on a downtrend, concerns loom for a current-quarter contraction as the Ukraine-Russia crisis fuels fresh uncertainties for…
By Howard Schneider and Leika Kihara (Reuters) -The well-scripted turn by global central banks towards tighter, post-pandemic monetary policy has been thrown into doubt by Russia’s invasion of Ukraine, a geopolitical upheaval likely to be felt differently across the world’s major economic centers. Risks policymakers face globally include a near immediate spike in the price…
By Steve Holland, Jeff Mason and Nandita Bose WASHINGTON (Reuters) -President Joe Biden hit Russia with a wave of sanctions on Thursday after Moscow invaded Ukraine, measures that impede Russia’s ability to do business in major currencies along with sanctions against banks and state-owned enterprises. Biden described Russian President Vladimir Putin as an aggressor with…
BEIJING (Reuters) – Oil prices soared nearly $2 per barrel in early trade on Friday as Russia’s invasion of Ukraine continued to inflame global supply concerns as markets brace for the impact of trade sanctions on major crude exporter Russia. Global benchmark Brent crude rose $1.99, or 2%, to $101.07 a barrel around 0155 GMT…
By Alun John HONG KONG (Reuters) – The euro was struggling to recover from its plunge the previous day in early Asia trading on Friday, after Russia’s invasion of Ukraine had hit the common European currency and sent investors scrambling to the safety of the dollar, yen and Swiss franc. Russia’s rouble also tumbled overnight,…
