FRANKFURT (Reuters) – European banks opened lower on Wednesday after two days of steep losses as the crisis in Ukraine drags on, and after the European arm of Russia’s Sberbank was forced to close. An index of leading European bank stocks fell 2.2% early on Wednesday, after dropping 5.6% on Tuesday and 4.5% on Monday…
MOSCOW (AP) — As Russia’s top diplomat during the invasion of Ukraine, Foreign Minister Sergey Lavrov is embodying the Kremlin’s defiant posture with a mixture of toughness and sarcasm. While President Vladimir Putin single-handedly shapes the country’s foreign policy, Lavrov delivers Moscow’s message with a bluntness uncharacteristic of a diplomat. In the role for nearly…
By Simon Jessop LONDON (Reuters) – The corporate world remains far from being aligned with global climate goals, and in some countries has gone backwards since a landmark agreement to cap global warming was signed in 2015, data shows. Limiting the world’s temperature rise to 1.5 degrees Celsius above the pre-industrial average by mid-century was…
MOSCOW (Reuters) -Russia’s largest lender, Sberbank, is leaving the European market as its subsidiaries there face large cash outflows and threats to the safety of employees and property, the bank said on Wednesday. The bank, set to unveil 2021 financial results later, said it was no longer able to supply liquidity to European subsidiaries, following…
(Reuters) – Russia’s oil and gas condensate output rose in February to 11.06 million barrels per day (bpd), according to Reuters calculations based on an Interfax report on Wednesday, while trading has been stalled due to sanctions over Ukraine. The production rose from 11 million bpd in January, while in tonnes, Russia’s total oil and…
BEIJING (AP) — Asian stock markets rebounded Thursday and oil prices climbed higher after the head of the Federal Reserve said he supports a smaller rise in interest rates than some expected. Shanghai, Tokyo, Hong Kong and Sydney advanced even as Russian forces whose attack on Ukraine has roiled financial markets bombarded the country’s second-largest…
WASHINGTON (AP) — Moscow’s war on Ukraine and the ferocious financial backlash it’s unleashed are not only inflicting an economic catastrophe on President Vladimir Putin’s Russia. The repercussions are also menacing the global economy, shaking financial markets and making life more perilous for everyone from Uzbek migrant workers to European consumers to hungry Yemeni families….
MOSCOW (Reuters) – Russia’s central bank kept stock market trading on the Moscow Exchange suspended for a third day in a row on Wednesday, but said it would allow a limited range of operations for the first time this week. (Reporting by Moscow bureau; Editing by Jacqueline Wong)
By Hyunjoo Jin SAN FRANCISCO (Reuters) -U.S. electric vehicle startup Rivian Automotive Inc said on Tuesday it has increased selling prices of its vehicles by about 20% due to inflationary pressures and higher component costs, angering some customers. The price increase also invited caustic comments from Elon Musk, chief executive of rival Tesla Inc, who…
BEIJING (Reuters) – China’s Haidilao, which operates a chain of hotpot restaurants, said its billionaire founder Zhang Yong has stepped down as CEO and will shift his focus to long-term strategy planning. The move, which comes amid efforts by Haidilao to slash store numbers, has seen Yang Lijuan, 43, formerly deputy CEO and chief operating…
