BEIJING (Reuters) – China will continue its crackdown on monopolies to ensure fair competition, Premier Li Keqiang said in a report released ahead of the start of the annual session of parliament on Saturday. Li also singled out the integrated circuits and artificial intelligence industries as priority areas for the government to build up domestic…
By Dhara Ranasinghe, Yoruk Bahceli and Gertrude Chavez-Dreyfuss LONDON/NEW YORK (Reuters) -Financial indicators signalled increasing signs of stresses spreading through global markets on Friday as concerns grow over the wider economic fallout of Russia’s invasion of Ukraine. With stock market prices and bond yields falling, gauges regarded as stress indicators are attracting investor attention. The…
ROME (Reuters) – Italian banks were instructed by the Bank of Italy’s financial intelligence division on Friday to urgently let it know of all measures taken to freeze the assets of people and entities targeted by sanctions against Russia. Western allies have moved to isolate Russia’s economy and financial system since its invasion of Ukraine,…
By Lewis Krauskopf NEW YORK (Reuters) – Geopolitical worries are clouding the outlook for U.S. stocks, even as Russia’s invasion of Ukraine moderates expectations for how aggressively the Federal Reserve will tighten monetary policy in coming months. Concerns over the conflict weighed on the S&P 500 on Friday, as the index pared a rally that…
By Devik Jain and Noel Randewich (Reuters) – Wall Street ended lower on Friday as the war in Ukraine overshadowed an acceleration in U.S. jobs growth last month that pointed to strength in the economy. Most of the 11 major S&P sector indexes declined, with financials leading the way with a 2% drop as investors…
SEOUL (Reuters) – Samsung Electronics said on Saturday shipments to Russia have been suspended “due to current geopolitical developments.” “We continue to actively monitor this complex situation to determine our next steps,” the company said in a statement. Samsung Electronics is No. 1 in handsets in Russia with 30% market share as of the fourth…
(Reuters) -Exchange operator Cboe Global Markets on Friday declared a regulatory halt in trading on the VanEck Russia ETF, which has tumbled since Russia’s invasion of Ukraine last week. Cboe also said it was halting trading of the much smaller VanEch Russia Small-Cap ETF. “Cboe BZX Exchange has declared a Regulatory Halt in RSX and…
By Mimosa Spencer PARIS (Reuters) – The world’s leading luxury brands said on Friday that they planned to temporarily close stores and pause business operations in Russia. Birkin bag maker Hermes and Cartier owner Richemont were the first firms to announce such moves, followed by LVMH, Kering and Chanel. Doing business in Russia has become…
LOUISVILLE, Ky. (AP) — American whiskey exports, battered by tariffs and the COVID-19 pandemic, started rebounding in 2021, but distillers have more ground to make up to fully recover, an industry group said. Exports of bourbon, Tennessee whiskey and rye whiskey reached $975 million in 2021, up 15% from the prior year, according to a…
NEW YORK (AP) — Visa says it will lower its credit card “swipe” fees for online and in-store transactions by 10% for small businesses starting in April. The move comes as the pandemic continues to accelerate a shift to digital payments. Visa, one of the world’s largest payment companies, benefitted as more places began accepting…
