FRANKFURT, Germany (AP) — Europe is scrambling to reduce its dependence on Russia for energy and bracing for potential disruption to critical natural gas supplies as Russia’s war in Ukraine sends prices to new highs. Natural gas prices hit a record Thursday for a second day in a row as restrictions on oil and gas…
(Reuters) – Kroger Co forecast annual same-store sales and profit above market expectations on Thursday, betting on strong demand for groceries as the pandemic-induced home-cooking trend holds strong, sending shares up about 4% in premarket trading. Despite the reopening of restaurants and bars, Americans have stuck to cooking and eating more at home as they…
By Tommy Wilkes LONDON (Reuters) – Oil prices soared again on Thursday as the Ukraine war triggered a dash for commodities that could be in short supply, while stock markets slipped as investors worried about higher inflation and slowing economic growth. Brent crude oil rose more than 5% to within a whisker of $120 per…
(Reuters) – Best Buy Co Inc forecast downbeat full-year revenue and fell short of holiday quarter sales estimates on Thursday, with the top U.S. electronics retailer shackled by product shortages and an Omicron-caused staffing crunch. Shortages in appliances, mobile phones and gaming consoles due to a global lack of semiconductor chips and supply-chain bottlenecks have…
(Corrects profit figure in last paragraph) By Lawrence White LONDON (Reuters) – Russian stocks and bonds are now “in the realms of utterly uninvestable,” the chief executive of Schroders Peter Harrison told Reuters on Thursday, as Western sanctions squeeze Russia’s economy after its invasion of Ukraine. Russia’s Ukraine invasion has roiled markets worldwide, sending oil…
MOSCOW (Reuters) – Russia has decided to stop supplying rocket engines to the United States in retaliation for its sanctions against Russia over Ukraine, Dmitry Rogozin, head of the state space agency Roscosmos, said on Thursday. “In a situation like this we can’t supply the United States with our world’s best rocket engines. Let them…
By Helen Reid JOHANNESBURG (Reuters) – Disruptions to automotive supply chains in the wake of Russia’s invasion of Ukraine could impact demand for platinum group metals (PGMs), the CEO of South African miner Sibanye-Stillwater said on Thursday. CEO Neal Froneman said supply chain disruptions were his biggest concern as carmakers – key consumers of PGMs…
By Huw Jones LONDON (Reuters) – The London Stock Exchange Group said on Thursday that applying financial sanctions on Russia following Moscow’s invasion of Ukraine would have only a minor impact on its business as it suspended more Russian listings. The exchange reported preliminary 2021 results which signalled it was keeping a lid on costs,…
ANKARA, Turkey (AP) — Turkey’s annual inflation rate further accelerated in February, official data showed Thursday, marking the biggest jump since 2002 and deepening the squeeze on households that are already struggling to purchase basic goods. The Turkish Statistical Institute said consumer prices rose 54.44% in February compared with a year ago. That is up…
NEW DELHI (Reuters) – An Indian tax investigation on China’s Huawei Technologies has found that the telecoms equipment maker manipulated account books to reduce its taxable income in the country, an Indian government source told Reuters on Thursday. Without naming the company, India’s Ministry of Finance said that a major telecoms group “failed to provide…
