DUBAI, United Arab Emirates (AP) — Abu Dhabi’s Etihad carrier announced on Tuesday a whopping $478 million loss for 2021, a figure that underscores the continued challenge airlines around the world face as travelers slowly return to the skies amid COVID-19 vaccine rollouts and eased travel restrictions. The airline said the figure represents a much-reduced…
By Howard Schneider (Reuters) – The U.S. Federal Reserve’s plan to end the loose money policies used to fight the pandemic is facing an unexpectedly early test as the Russian invasion of Ukraine poses new economic and financial risks already being felt in global markets. Fed Chair Jerome Powell testifies before Congress on Wednesday and…
By Yuka Obayashi, Kate Abnett and Noah Browning TOKYO (Reuters) – Members of the International Energy Agency (IEA) are holding an extraordinary ministerial meeting on Tuesday which could lead to a coordinated oil stocks release as Russia’s invasion of Ukraine sent oil prices soaring above $100 a barrel. Crude oil was trading around $103 a…
Russia’s invasion of the Ukraine has changed the tenor of International politics. The transgression marks the biggest military conflict on Europe’s continent since World War II. Over the past 80 years, Europe refrained from arms races following two devastating wars. That may have changed. The European Union took unprecedented action by sending $500 million in…
(Reuters) – Stellantis said on Tuesday that it aims to double its net revenues to 300 billion euros ($335 billion) by 2030, while maintaining double-digit adjusted operating margins as it manages the shift to zero-emission vehicles. The world’s No.4 carmaker, created early last year from the merger of PSA and Fiat Chrysler, said it will…
(Reuters) – U.S. chipmaker Nvidia Corp said on Tuesday a cyber attacker has leaked employee credentials and some company proprietary information online after their systems were breached. “We have no evidence of ransomware being deployed on the Nvidia environment or that this is related to the Russia-Ukraine conflict,” the company’s spokesperson said in a statement….
(Reuters) -Target Corp forecast 2022 sales and profit above analysts’ expectations on Tuesday, after posting a 9% rise in holiday quarter sales even as the big box retailer battled supply chain disruptions and record inflation. The company’s shares, which have fallen nearly 14% since the start of the year, rose 12% in premarket trading. For…
WASHINGTON (AP) — As Russia’s war in Ukraine plays out for the world on social media, big tech platforms are moving to restrict Russian state media from using their platforms to spread propaganda and misinformation. After the European Union’s president called for a ban on Russian state media, a wave of tech companies blocked the…
NEW YORK (AP) — Target will invest up to $5 billion this year in physical stores, remodels, new brands and expanding its online fulfilment as the discounter continues to drive sales growth and differentiate itself from rivals. The plans, announced Tuesday at its annual investor meeting held in New York, include opening 30 new stores,…
MOSCOW (Reuters) – Russia will temporarily impose curbs on foreign investors seeking to exit Russian assets to ensure they take a considered decision not one driven by political pressure, the prime minister said on Tuesday, as Moscow responds to Western sanctions. “In the current sanction situation foreign entrepreneurs are forced to be guided not by…
