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…
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,…
