By Steve Holland and Andrea Shalal WASHINGTON (Reuters) – U.S. President Joe Biden will call on Friday for an end to normal trade relations with Russia over its invasion of Ukraine, clearing the way for increased tariffs on Russian imports, five people familiar with the situation told Reuters. The move marks the latest escalation of…
By Steve Holland WASHINGTON (Reuters) – U.S. President Joe Biden on Friday will call for an end of normal trade relations with Russia over its invasion of Ukraine, clearing the way for increased tariffs on Russian imports, two people familiar with the situation told Reuters. The move marks the latest escalation of a push by…
SHANGHAI (Reuters) – Shares in Yum China and four other Chinese companies tumbled on Friday after they were ensnared in an auditing dispute between Beijing and Washington, though China’s securities regulator said it was confident they could reach a deal. Yum China Holdings, the owner of KFC, Taco Bell and Pizza Hut restaurants in China,…
(Reuters) – California utility PG&E Corp is partnering with U.S. automaker Ford Motor Co to bring bidirectional charging electric vehicles to its customers, the utility’s chief executive said on Thursday. “We’re announcing today our partnership with Ford Motor Co to bring bidirectional charging vehicles, specifically the Ford F-150 Lightning, to the PG&E customers,” Patti Poppe…
By Sonali Paul MELBOURNE (Reuters) – Oil prices clawed back some losses on Friday but were on track for their biggest weekly drops since November after see-sawing on fears of escalating bans on Russian oil versus efforts to bring more supply to market from other major producers. Brent crude futures inched up 11 cents to…
By Alun John HONG KONG (Reuters) – The dollar hit a new five-year high on the yen on Friday after a strong U.S. inflation report, while the euro struggled to hold its own as a hawkish turn from the European Central Bank was offset by growth risks emanating from the Ukraine crisis. The greenback rose…
By Kantaro Komiya TOKYO (Reuters) – Japanese household spending rose for the first time in six months in January on a year-on-year basis, largely because of weakness in the prior year, even as the fast spread of the COVID-19 Omicron variant likely weighed on consumption later in the month. Rising energy prices in the wake…
By Can Sezer and Orhan Coskun ISTANBUL (Reuters) – President Tayyip Erdogan’s wager that Turkey could ride out an inflation and currency shock with low rates and reserves has all but collapsed, after the fallout from the war in Ukraine left the economy uniquely vulnerable to soaring energy prices. Turkey’s gas import bill alone is…
(Reuters) – U.S. Senator Joe Manchin wants his fellow Democrats on the Senate Banking committee to move ahead with four of President Joe Biden’s five nominees to the Federal Reserve, dropping the fifth nominee, Sarah Bloom Raskin, Politico reported on Thursday. Republicans last month blocked a vote on the full Fed slate over objections to…
(Reuters) – AIA Group Ltd on Friday launched a $10 billion share buyback plan and declared a higher final dividend as new business value jumped 22% in 2021, boosted by strong growth across markets, especially in China and Hong Kong. The insurer’s value of new business or VONB, which measures expected profit from new premiums…
