By Dhara Ranasinghe LONDON (Reuters) – Oil prices slid on Monday as a coronavirus lockdown in Shanghai fueled worries about weak demand, while the yen’s stomach-churning descent continued as the Bank of Japan stood in the way of higher yields. World stocks were largely flat, holding their ground in the face of another brutal selloff…
(Reuters) – Dutch brewing giant Heineken said on Monday it has decided to exit its business in Russia, after previously saying it would halt new investments and exports there, anticipating a charge of 400 million euros. “We have concluded that Heineken’s ownership of the business in Russia is no longer sustainable nor viable in the…
By Makiko Yamazaki TOKYO (Reuters) – The crisis at Toshiba Corp may have a silver lining for new boss Taro Shimada, allowing him to keep – at least for now – businesses pivotal to his digital strategy that predecessors had planned to sell. Investors last week voted down management’s plan to spin off Toshiba’s devices…
(Reuters) – Dutch brewing giant Heineken said on Monday it has decided to exit its business in Russia, after previously saying it would halt new investments and exports there. “We have concluded that Heineken’s ownership of the business in Russia is no longer sustainable nor viable in the current environment,” it said in a statement….
By Leika Kihara TOKYO (Reuters) – The Bank of Japan desperately defended its yield target on Monday by making two offers in a single day to buy an unlimited amount of government bonds, as rising long term interest rates posed the biggest challenge yet to its ultra loose policy. The yield on the benchmark 10-year…
BEIRUT (AP) — Layal Aswad was already exhausted by Lebanon’s devastating two-year economic collapse. Now, as Russia’s invasion of Ukraine sends food and energy prices soaring even further, she finds herself struggling to put food on the table for her family of four. “Even bread is not something we take for granted anymore,” said the…
(Reuters) – Apple Inc is planning to cut the output of its iPhone and AirPods devices as the Ukraine crisis and looming inflation start to weigh on demand for consumer electronics, the Nikkei reported on Monday, citing sources. The company plans to make about 20% fewer iPhone SEs next quarter, or lower production orders by…
SHANGHAI (Reuters) -U.S. automaker Tesla is suspending production at its Shanghai factory for four days after the financial hub said on Sunday it would lock down in two stages to carry out mass testing for COVID 19, two people familiar with the matter said. The company has notified its workers and suppliers of the move,…
By Kantaro Komiya TOKYO (Reuters) – Japan will revise its foreign exchange law to prevent Russia from evading Western financial sanctions following Moscow’s invasion of Ukraine through cryptocurrency assets, top government officials said on Monday. The government will submit a revision of the Foreign Exchange and Foreign Trade Act to the current parliament session to…
By Wayne Cole SYDNEY (Reuters) – Asian shares faltered and oil prices slid on Monday as a coronavirus lockdown in Shanghai hit economic activity, while the yen extended its stomach-churning descent as the Bank of Japan stood in the way of higher yields. China’s financial hub of 26 million people told all firms to suspend…
