By Aftab Ahmed, Aditi Shah and Aditya Kalra NEW DELHI (Reuters) – India has frozen plans to allow local firms to list overseas as it seeks to bolster its own capital markets, government officials and industry sources said, in a blow to foreign funds and stock exchanges seeking to tap into the country’s tech boom….
By Valentina Za and Giuseppe Fonte MILAN (Reuters) -Monte dei Paschi di Siena must submit an updated capital plan to the European Central Bank by end March, the Italian bank said in its 2021 annual report, highlighting that the Ukraine crisis could affect its cash needs. The bank said the war could prompt a revision…
By Eric Onstad LONDON (Reuters) – The London Metal Exchange’s (LME) benchmark nickel surged 15% on Wednesday to hit its upper trading limit, reversing direction and climbing for the first time since trading resumed last week. LME nickel gained 5.5% at the open and hovered at stronger levels for the first few hours of trade,…
BRUSSELS (AP) — The European Union’s executive arm on Wednesday proposed an aid package of 500 million euros ($549 million) to help food producers in the 27-nation bloc weather the economic impact of the war in Ukraine. With Russia and Ukraine providing about 30% of the world’s wheat, the conflict between the neighboring nations has…
By Richa Naidu LONDON (Reuters) -Nestle said on Wednesday it will suspend several brands including KitKat and Nesquik in Russia, days after Ukrainian President Volodymyr Zelenskiy criticised the world’s biggest consumer goods company for continuing to operate in Russia. Nestle has in recent weeks faced backlash from consumers, activist groups and politicians for not fully…
By Brenda Goh SHANGHAI (Reuters) -Revenue at Chinese social media and gaming giant Tencent grew just 8% in the fourth quarter, the slowest pace since it went public in 2004, reflecting regulatory scrutiny that has hurt both its gaming business and advertising sales. China has frozen game approvals since August last year and curtailed gaming…
MADRID (AP) — Across Europe, governments are slashing fuel taxes and doling out tens of billions to help consumers, truckers, farmers and others cope with spiking energy prices made worse by Russia’s invasion of Ukraine. But it’s not enough for some whose livelihoods hinge on fuel. Miguel Ángel Rodriguez was one of 200 concrete truck…
LONDON (AP) — Britain’s Treasury chief on Wednesday announced a package of tax cuts and support payments that fell far short of what consumer advocates had demanded to shield working families from the soaring cost of living, triggering criticism that he doesn’t understand the scale of the crisis. Rishi Sunak cut fuel taxes by 5…
GUISSONA, Spain (AP) — As Ukrainian refugees fleeing bombs and bullets at home fan out across Western Europe, few places they arrive feel as welcoming as a Spanish town known for years as “Little Ukraine.” Even before Russian tanks rolled into Ukraine last month, one in seven residents of Guissona was originally from there. Guissona’s…
By Steve Scherer and Nia Williams OTTAWA/CALGARY, Alberta (Reuters) – Canada on Thursday will outline plans to increase oil exports to help alleviate the tight global market following Russia’s invasion of Ukraine, but the hike will not undermine Ottawa’s long-term climate commitments, a government source said. Federal Natural Resources Minister Jonathan Wilkinson will detail Canada’s…
