By David Gaffen (Reuters) – The crude oil market heads into another week of uncertainty, buffeted on one side by the ongoing war between Russia and Ukraine and the expansion of COVID-related lockdowns in China, the world’s largest crude importer. Brent crude and U.S. West Texas Intermediate (WTI) crude surged last week. The two benchmarks…
(Reuters) – Tesla Inc is planning to suspend production at its Shanghai factory for at least one day, Bloomberg News reported on Sunday, as China’s financial hub said it would go into a lockdown in two stages to conduct COVID-19 testing. Tesla’s production in the plant will be halted on Monday, the report said, citing…
SHANGHAI (Reuters) – Chinese regulators and their U.S. counterparts are working hard to solve an audit dispute affecting U.S.-listed Chinese firms and want to achieve effective and sustainable cooperation as soon as possible, a state-run newspaper reported on Sunday. Citing a source close to Chinese regulators, the official China Securities Journal reported that the China…
(Reuters) – The chief executive of Daimler Truck said electric truck costs would “forever be higher” than those using combustion engines, the Financial Times reported on Sunday, as Russia’s invasion of Ukraine added to rising raw material costs. Martin Daum told the newspaper that governments needed to help make up the difference in the cost…
PARIS (Reuters) – Privately-owned French retailer Auchan plans to maintain its presence in Russia, its CEO said in an interview published in the French newspaper Journal du Dimanche on Sunday, prompting Ukraine to call for a boycott of the international chain. Auchan, which has around 30,000 staff, 231 stores and e-commerce activities in Russia, has…
(Reuters) – Around 48,000 grocery workers voted to strike if needed when seeking higher wages from stores owned by Kroger Co and Albertsons Companies Inc in Southern California, the UFCW 770 union said on Saturday. The United Food and Commercial Workers International Union (UFCW) has been seeking significantly higher and equal pay, sufficient staffing and…
NEW DELHI (Reuters) – India’s two largest multiplex firms said on Sunday they would merge to create a giant cinema operator with more than 1,500 screens across 109 cities as the entertainment industry recovers from the COVID-19 pandemic. PVR and INOX Leisure said the merger, which is subject to regulatory approvals, would help both companies…
BEIJING (AP) — The second “black box” from a China Eastern Boeing 737-800 was found Sunday, raising hopes that it might shed light on why the passenger plane nosedived into a remote mountainous area in southern China last week, killing all 132 people on board. Firefighters taking part in the search found the flight data…
VALLETTA, Malta (AP) — Maltese Prime Minister Robert Abela on Sunday claimed victory in his nation’s parliamentary election hours ahead of official results. If the win is confirmed, that would mean the Labour Party will start its third consecutive term in office, beating out its traditional rival, the Nationalist Party. The election was held Saturday…
BEIJING (Reuters) – China Petroleum & Chemical Corp, better known as Sinopec, is planning its highest capital investment in history for 2022 after recording its best profit in a decade, echoing Beijing’s call for energy companies to raise production. Sinopec expects to spend 198 billion yuan ($31.10 billion) in 2022, up 18% from a year…
