LONDON (Reuters) -Fitch became the second major credit rating firm to suspend its commercial operations in Russia with immediate effect on Monday, saying its analysts outside the country would provide its coverage instead. Ratings firms are facing the twin pressures of Western sanctions that ban transactions with targeted Russian firms and a new law passed…
By Tetsushi Kajimoto TOKYO (Reuters) – Japan recorded its largest current account deficit since the start of 2014 in January as a jump in oil import costs offset gains in investment incomes, with continuing uncertainty due to the Ukraine crisis and COVID-19 pandemic. The current account data highlighted the dependence of Japan’s resource-deficient economy on…
LONDON (AP) — U.K. lawmakers are set to pass a bill on Monday aimed at toughening sanctions on Russia and rooting out ill-gotten money from the British economy. Prime Minister Boris Johnson said the Economic Crime Bill will let British authorities ”pursue (Russian President Vladimir) Putin’s allies in the U.K. with the full backing of…
By David Shepardson WASHINGTON (Reuters) – More than 80 environmental groups and other organizations on Monday urged California Governor Gavin Newsom to impose tougher rules promoting electric vehicles even as the state is moving faster than President Joe Biden’s administration. “Californians being punished by high gas prices and climate disasters deserve the fastest all-electric future…
By Lewis Krauskopf, Devik Jain and Sabahatjahan Contractor (Reuters) – Wall Street’s main indexes fell sharply on Monday, with the Nasdaq Composite confirming it was in a bear market, as the prospect of a ban on oil imports from Russia sent crude prices soaring and fueled concerns about rising inflation. Nasdaq ended down 20.1% from…
By Steve Scherer and Aishwarya Nair (Reuters) -General Motors Co and South Korea’s POSCO Chemical will build a $400 million facility to produce battery materials in Canada as the carmaker ramps up plans to produce mainly electric vehicles (EVs) in the future, the companies said on Monday. The plant will produce cathode active material (CAM)…
By Elizabeth Dilts Marshall NEW YORK (Reuters) – Oil and other commodities prices soared while global shares tanked on Monday as the United States said it was willing to ban Russian oil imports, stoking investor fears over inflation and slowing economic growth. Brent, the international benchmark, briefly hit more than $139 a barrel, its highest…
LOS ANGELES (AP) — The city of Los Angeles is suing Monsanto and two other companies for past and future costs of dealing with contamination of waterways by long-banned chemicals called polychlorinated biphenyls, or PCBs, the city attorney announced Monday. Long-lasting PCBs were used in numerous products and applications for decades and are linked to…
By Akriti Sharma and Rocky Swift (Reuters) -Uniqlo owner Fast Retailing will keep its stores in Russia open, joining a small group of international firms that are staying put even as dozens of big brands temporarily shutter operations or exit the country over its invasion of Ukraine. Political pressure is building on companies to halt…
By Aishwarya Nair and Tim Hepher (Reuters) -Boeing Co said on Monday it had suspended buying titanium from Russia, while its European rival Airbus continues to use supplies from the nation that hosts the world’s largest supplier of the commodity, VSMPO-AVISMA. The U.S. planemaker said it had “substantial” inventory of the metal, prized in aerospace…
