BEIJING (Reuters) – General Motors Co plans to create a new, independently owned premium brand in China that will market what the automaker’s China chief Julian Blissett recently described as “halo cars” brought in from the United States. GM plans to build this new “premium import business” from the ground up and operate it with “a…
(Reuters) -Shell stopped buying Russian crude on Tuesday and said it would phase out its involvement in all Russian hydrocarbons from oil to natural gas over Ukraine, becoming one of the first major Western oil companies to abandon Russia entirely. Oil prices soared above $139 a barrel on Monday to hit their highest level since…
By Saikat Chatterjee and Elizabeth Howcroft LONDON (Reuters) -European stocks and Wall Street futures edged slightly higher on Tuesday, but markets remained volatile as the prospect of a ban on Russian oil imports pushed oil prices higher and added to investor fears over inflation. Since the conflict in Ukraine began on Feb. 24, Western sanctions…
(Reuters) – U.S. stock index futures stabilized on Tuesday, after a steep sell-off on Wall Street in the previous session as investors assessed the impact of a spike in oil prices and Western sanctions on Russia over its invasion of Ukraine. The Nasdaq on Monday ended down 20.1% from its Nov. 19 record high close,…
NEW YORK (AP) — With Russia intensifying its war on Ukraine, killing civilians and triggering a mass refugee crisis, President Joe Biden on Tuesday announced a U.S. ban on imported Russian oil. Critics of Russia have said that sanctioning its energy exports would be the best — perhaps only — way to force Moscow to…
LONDON (AP) — Shell said Tuesday that it will stop buying Russian oil after Ukrainian officials criticized the energy giant for buying a shipment of crude from Moscow and demanded that all multinational companies sever ties with Russia over the war. The move came hours before the U.S. and British governments banned Russian oil imports….
By Koustav Samanta SINGAPORE (Reuters) – Global jet fuel prices have surged to near 14-year highs in line with crude oil’s surge on supply shortfall worries, slamming air carriers and travellers with steep cost increases just as air travel was starting to recover from COVID-19 restrictions. Oil prices have soared to their highest since 2008…
By Francesco Guarascio, Jan Strupczewski and John Chalmers BRUSSELS (Reuters) – The European Commission has prepared a new package of sanctions against Russia and Belarus over the invasion of Ukraine that will hit additional Russian oligarchs and politicians and three Belarusian banks, three sources told Reuters on Tuesday. The draft sanctions were adopted by the…
MILAN (Reuters) -Shares in Telecom Italia (TIM) bounced more than 10% on Tuesday after an Italian newspaper reported that U.S. fund KKR was still interested in a takeover deal, albeit at a lower price. KKR could confirm its interest in a deal but at a price of around 0.40 euros per share, Italian daily Il…
By Nick Carey and Christina Amann LONDON (Reuters) -Saving up for a new ride? Better start putting more cash aside. Russia’s invasion of Ukraine is ramping up the price of metals used in cars, from aluminium in the bodywork to palladium in catalytic converters to the high-grade nickel in electric vehicle batteries, and drivers are…
