PARIS (Reuters) – L’Oreal, the world’s largest cosmetics group, said on Tuesday it would temporarily close its own stores, its directly operated counters in department stores and its e-commerce sites in Russia, in reaction to Moscow’s invasion of its neighbour Ukraine. The French company, which strongly condemns Russia’s military action, also said it would also…
KYIV, Ukraine (AP) — The field kitchen at a makeshift camp in Ukraine’s capital was a hive of activity Monday, giving volunteers a way to contribute to the war effort — and providing a much-needed distraction from the harrowing news about Russia’s escalating invasion. A woman identified only as Oksana, whose husband is fighting in…
United States and European officials discussed the possibility of completely banning imports of Russian oil. The move, while not a surprise, sent energy prices skyrocketing. Russian crude accounts for 3% of American imports. The U.S. energy complex has seen money flow into the space. These companies are leading options to fill the void of Russia’s…
The average price of gasoline in the U.S. hit a record $4.17 per gallon Tuesday as the country banned Russian oil imports after its invasion of Ukraine. The national average rose by 10 cents per gallon in one day, and it’s up 55 cents since last week, according to AAA data. The previous high was…
By Arathy Somasekhar and Marianna Parraga HOUSTON (Reuters) – The United States is expected to ban imports of Russian oil as soon as Tuesday, sources familiar with the matter said, in retaliation for Moscow’s invasion of Ukraine. Russia is the world’s second largest exporter of crude oil and petroleum products. U.S. IMPORTS The United States…
By Byron Kaye SYDNEY (Reuters) -Qantas Airways Ltd expects airfares will need to rise to cover the cost of higher fuel prices as its oil hedging contracts expire, its chief executive said on Tuesday. Qantas has hedged 90% of its fuel needs through the end of June and 50% in the following quarter, Chief Executive…
BRUSSELS (AP) — The European Union is seeking to fully phase out its reliance on Russian energy “well before 2030” to ensure the 27-nation bloc no longer faces difficult decisions about hurting their own economies in geopolitical crises like the invasion of Ukraine. The EU leaders meet in Versailles outside Paris for a two-day summit…
(Reuters) – The head of markets for JPMorgan Chase & Co said on Tuesday that markets are too treacherous to update the firm’s first quarter outlook for trading revenue. “The markets are extremely treacherous at the moment,” Troy Rohrbaugh explained at an investor conference. “There is a lot of uncertainty. There are a lot of…
By Hilary Russ NEW YORK (Reuters) – Yum Brands Inc , parent company of fried chicken chain KFC, is pausing investment in Russia, a key market that helped the brand achieve record development last year, the company said. However, Yum did not comment on whether it would seek to limit or pause current restaurant operations…
SILVER SPRING, Md. (AP) — Google is fortifying its cloud services with a $5.4 billion acquisition of the cyber security firm Mandiant, the companies announced Tuesday. The acquisition is the first of many that analysts foresee in the cyber security sector following Russia’s invasion of Ukraine. Analysts and government officials have said they expect a…
