By Florence Tan and Sonali Paul SINGAPORE (Reuters) – Oil prices extended their rally on Thursday, with Brent rising above $116 a barrel, as trade disruption and shipping issues from Russian sanctions over the Ukraine crisis sparked supply worries while U.S. crude stocks fell to multi-year lows. The Organization of the Petroleum Exporting Countries and…
TOKYO (AP) — A Tokyo court gave a suspended sentence to Greg Kelly, a former American executive at Nissan Motor charged with underreporting his boss Carlos Ghosn’s pay. The verdict announced Thursday of a 6-month sentence suspended for three years will allow Kelly to return to the U.S. even if prosecutors appeal. Kelly was arrested…
(Reuters) -Fitch on Wednesday downgraded Russia’s sovereign credit rating by six notches to “junk” status, saying Western sanctions over the invasion of Ukraine made it uncertain Russia could service its debt and would weaken its economy in “a huge shock” to its creditworthiness. Russia’s financial markets have been thrown into turmoil by its assault on…
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The battered shares of Van Eck’s Russia ETF have attracted a surge of trader interest and drawn comparisons to last year’s so-called meme stock frenzy, as investors seek ways to capitalize on market gyrations caused by the Ukraine crisis. Designed to track the performance of the MVIS Russia…
WASHINGTON (AP) — State attorneys general have launched a nationwide investigation into TikTok and its possible harmful effects on young users’ mental health, widening government scrutiny of the wildly popular video platform. The investigation was announced Wednesday by a number of states led by California, Florida, Kentucky, Massachusetts, Nebraska, New Jersey, Tennessee and Vermont. U.S….
NEW YORK (AP) — Amazon is closing all of its brick-and-mortar bookstores, as well as its 4-star shops and pop up locations, as the online retail behemoth reworks its physical footprint. The Seattle-based company said Wednesday that the move, which affects 66 stores in the U.S. and two in the United Kingdom, will enable it…
By Jonnelle Marte (Reuters) – The Federal Reserve’s nearly $9 trillion balance sheet has more room to decline than it did the last time the central bank shrank its holdings and policymakers will still watch money markets closely, a senior bank official said on Wednesday. The Fed’s standing repo facilities should also serve as a…
By Alasdair Pal NEW DELHI (Reuters) -At least five superyachts owned by Russian billionaires were anchored or cruising on Wednesday in Maldives, an Indian Ocean island nation that does not have an extradition treaty with the United States, ship tracking data showed. The vessels’ arrival in the archipelago off the coast of Sri Lanka follows…
By Paresh Dave, Elizabeth Culliford and Sheila Dang (Reuters) – Online payments company PayPal Holdings Inc stopped accepting new users in Russia on Wednesday given current circumstances, a company spokesperson told Reuters. PayPal, which only allows cross-border transactions by users in Russia, had already blocked some users and some of the country’s biggest banks following…
(Reuters) – Cruise operators Royal Caribbean Group and Viking Cruises canceled sailings to Russia on Wednesday, joining their rivals and many Western brands in suspending operations in the country after its invasion of Ukraine. Celebrity Cruises, owned by Royal Caribbean, said it was removing Russian port city St. Petersburg from upcoming itineraries, adding that it…
