By Rajesh Kumar Singh CHICAGO (Reuters) – When General Electric Co’s investors gather on Thursday, they will focus on a potential hit to company profits from persistent supply-chain and inflationary woes. The Boston-based industrial conglomerate last month warned that its profits would suffer in the first half of this year from supply and labor issues….
By Shariq Khan BENGALURU (Reuters) -Oil slid over 7% on Wednesday after reports that the United Arab Emirates will call on fellow OPEC members to boost production, potentially easing some of the supply concerns caused by sanctions on Russia after its invasion of Ukraine. Oil was already pulling back earlier in the session from a…
By Francesco Guarascio and Gabriela Baczynska PARIS/BRUSSELS (Reuters) -The European Union announced fresh sanctions against Russia and its ally Belarus on Wednesday but EU leaders are set to rebuff Kyiv’s appeal for accelerated membership of the bloc when they meet on Thursday to discuss Russia’s war in Ukraine. The 27-nation EU blacklisted 14 more oligarchs…
By Sruthi Shankar, Bansari Mayur Kamdar and Susan Mathew (Reuters) – German shares vaulted almost 8% to lead strong gains across European stocks markets on Wednesday, as investors picked up beaten-down stocks following a rout sparked by fears about the fallout from the Ukraine crisis. Italian and French shares jumped around 7% each, while the…
By Sabrina Valle and Arathy Somasekhar HOUSTON (Reuters) – Developing countries should not have to target renewable energy sources and turn away from fossil fuels, Nigerian and Equatorial Guinea energy officials said on Wednesday, joining other emerging oil-producing nations reluctant to embrace the global energy transition trend. Some 900 million people in the world, most…
By Selena Li and Carolyn Cohn HONG KONG/LONDON (Reuters) -Prudential PLC notched up a 16% rise in 2021 operating profit after it strengthened its focus on Asia, though it warned of implications for global markets and the economy from Russia’s invasion of Ukraine. Uncertainties triggered by the crisis in Ukraine have prompted insurers to review…
SACRAMENTO, Calif. (AP) — California Gov. Gavin Newsom proposed sending money back to taxpayers to offset record-high gas prices but rejected calls to increase oil drilling, saying he wants to free the state “once and for all from the grasp of petro-dictators.” The average price for a gallon of gas in California is the nation’s…
By Tetsushi Kajimoto TOKYO (Reuters) -Toyota Motor Corp agreed on Wednesday that its union demand for annual salary and bonus hikes will be fully met in the new fiscal year, President Akio Toyoda said. Nissan Motor and Honda Motor followed suit with the same response to its union’s demands after Toyota’s announcement, in a sign…
WASHINGTON (AP) — U.S. businesses posted a near-record level of open jobs in January, a trend that has helped push up worker’s pay and added to inflationary pressures in the U.S. economy. Employers posted 11.3 million jobs at the end of January, down slightly from a record of 11.4 million in December, the Labor Department…
WASHINGTON (Reuters) – The U.S. House of Representatives was poised on Wednesday for a critical series of votes that would ban U.S. imports of Russian oil, provide emergency aid to Ukraine and fund the federal government through Sept. 30. Democrats and Republicans reached a $1.5 trillion deal overnight to fund the federal government for fiscal…
