By Tom Westbrook and Xie Yu SINGAPORE (Reuters) – Oil jumped to a seven-year high, safe-havens rallied and U.S. stock futures dived on Tuesday as Europe’s eastern flank stood on the brink of war after Russian President Vladimir Putin ordered troops into breakaway regions of eastern Ukraine. Brent crude futures rose 1.6% to $96.94, just…
By Erwin Seba BEAUMONT, Texas (Reuters) – Union workers locked out of their jobs at a Texas oil refinery for nearly 10 months voted on Monday by a nearly two-thirds margin to accept an Exxon Mobil Corp contract offer, a union official said. Exxon has said it would end the lockout only with union members…
By Sam Nussey TOKYO (Reuters) – SoftBank Group Corp is likely to trim its stake in Chinese e-commerce giant Alibaba, an analyst said on Tuesday, as the Japanese tech conglomerate invests in unlisted startups through its second Vision Fund and repurchases its shares. SoftBank sold 20 million Alibaba shares in the last quarter and “will…
MILAN (Reuters) – UniCredit is revamping its structure so that all domestic companies from small businesses to large multinationals are looked after by one division, Italy’s second largest bank said on Monday. UniCredit said the aim was to give smaller businesses access to products and services developed by its corporate solutions division, such as advisory…
(Reuters) – Brazilian wholesaler Assai posted on Monday fourth-quarter net income of 527 million reais ($103.26 million), beating estimates as store openings accelerated.Net income rose 76% from a year earlier, above a Refinitiv consensus of 315.33 million reais. Net revenue grew 8.1% to 11.55 billion reais. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA)…
By Simon Jessop and Jan Strupczewski BRUSSELS (Reuters) – The European Commission will unveil on Wednesday a proposal to make large companies operating in the European Union check that their suppliers from around the world do not use slave or child labour and that they respect environmental standards, a draft of the law showed. The…
By Kenneth Li, Julia Love and Helen Coster (Reuters) -Donald Trump’s new social media venture, Truth Social, launched late on Sunday in Apple’s App Store, potentially marking the former president’s return to social media after he was banned from several platforms last year. The app was available shortly before midnight ET and was the top…
MEXICO CITY (Reuters) – Mexican annual inflation likely accelerated in the first half of February after slowing during the past eight weeks, a Reuters poll showed Monday, reinforcing expectations that the country’s central bank would continue raising rates in line with the U.S. Federal Reserve. The consensus forecast of 12 analysts surveyed was for inflation…
LONDON (Reuters) – Tech-dominated “growth” stocks are still not cheap despite some sharp falls over the last six months, analysts at U.S. investment bank JPMorgan cautioned on Monday. The so-called FAANGs have seen some of their COVID-era surges cut back this year, with Facebook down 38%, Apple down 5.7%, Amazon down 8.5% and Netflix and…
By Tom Sims FRANKFURT (Reuters) -Allianz has dismissed two asset managers who oversaw a group of investment funds that collapsed after racking up massive losses when the spread of coronavirus triggered wild market swings, according to regulatory filings. The downfall of the $15 billion Structured Alpha funds has landed the German insurance company in hot…
