March 1, 2022

(Reuters) – Australia’s Core Lithium Ltd on Wednesday entered into an agreement with Tesla Inc to supply the U.S. electric car maker with lithium spodumene, sending its shares up 13% in early trading. The deal reflects surging demand for battery metals such as lithium, nickel and cobalt due to the exponential rise in electric vehicle…

VIENNA (Reuters) -The European arm of Sberbank, Russia’s biggest lender, has been closed by order of the European Central Bank, which had warned it faced failure due to a run on deposits after Russia invaded Ukraine, Austria’s Financial Market Authority said. The European Central Bank’s Single Resolution Board (SRB) determined earlier this week that Sberbank…

By Daina Beth Solomon MEXICO CITY (Reuters) – An overwhelming vote by workers at a northern Mexican factory to elect an independent union, defeating an entrenched labor group, could presage more such showdowns amid growing U.S. pressure to strengthen worker rights. Independent union SNITIS won nearly 87% of the vote at the Tridonex auto parts…

(Reuters) – Ford Motor Co said on Tuesday that, given Russia’s invasion of Ukraine, it has informed joint venture partner Sollers it is immediately suspending operations in Russia until further notice. Ford said it does not have significant operations in Ukraine. Ford also said the Ford Fund is making a $100,000 donation to the Global…

(Reuters) -Salesforce.com Inc on Tuesday reported quarterly revenue and profit above Wall Street estimates, as a pandemic-led shift to hybrid work kept up the strong demand for its cloud-based software, sending its shares up 4% in extended trading. Companies like Salesforce reaped the benefits of the pandemic, with organizations doubling down on their effort for…

By Howard Schneider (Reuters) – The Federal Reserve’s plan to end the loose money policies used to fight the coronavirus pandemic is facing an unexpectedly early test as the Russian invasion of Ukraine poses new economic and financial risks already being felt in global markets. Fed Chair Jerome Powell is scheduled to testify before Congress…

WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen on Tuesday told European Commission Executive Vice President Valdis Dombrovskis that cooperation was needed on “further strong measures” in response to Russia’s invasion of Ukraine after unprecedented sanctions, the U.S. Treasury said. “Secretary Yellen affirmed the United States’ support for Ukraine’s sovereignty, working together with our partners…

By Scott DiSavino NEW YORK (Reuters) -Oil prices surged over 7% on Tuesday to their highest since 2014, as a global agreement to release crude reserves failed to calm fears about supply disruptions from Russia’s invasion of Ukraine, and instead underscored energy shortage concerns. Members of the International Energy Agency (IEA), which include the United…

By Ron Bousso, Julia Payne and Dmitry Zhdannikov LONDON (Reuters) -Russian oil trade was in disarray on Tuesday as producers postponed sales, importers rejected Russian ships and buyers worldwide searched elsewhere for needed crude after a raft of sanctions imposed on Moscow over the war in Ukraine. Numerous nations imposed sweeping sanctions against Russian companies,…