By Stephanie Kelly NEW YORK (Reuters) -Oil prices tumbled more than 6% to their lowest in almost three weeks on Tuesday as supply disruption fears eased and surging COVID-19 cases in China spurred demand concerns. Brent futures fell $6.66, or 6.2%, to $100.24 a barrel by 2:01 p.m. EDT (1801 GMT), while U.S. West Texas…
BRUSSELS (AP) — The European Union imposed sanctions Tuesday on Chelsea soccer club owner Roman Abramovich as part of a new package of measures targeting Russia and President Vladimir Putin’s close allies. The EU included the Russian oligarch in its updated list of individuals facing assets freeze and travel bans over their role in the…
LONDON (AP) — European regulators on Tuesday cleared Amazon’s purchase of Hollywood studio MGM, saying the deal doesn’t raise any competition concerns. The online shopping giant said last year that it was buying MGM in a $8.45 billion deal aimed at bulking up its video streaming service with more content to watch. The European Commission…
By Hernan Nessi BUENOS AIRES (Reuters) – Argentina, already battling annual inflation running at over 50%, is braced for prices heating up further due to spiking global commodities costs that are being exacerbated by the Russian invasion of Ukraine. The South American country, due to release closely watched inflation figures on Tuesday, is expected to…
By Foo Yun Chee BRUSSELS (Reuters) -EU antitrust regulators on Tuesday raided several automotive companies and associations in several countries on suspicion of breaching the bloc’s cartel rules. The European Commission also sent companies requests for information, it said without disclosing company names. “The inspections and requests for information concern possible collusion in relation to…
By Foo Yun Chee BRUSSELS (Reuters) -EU antitrust regulators on Tuesday raided several automotive companies and associations in several countries on suspicion of breaching the bloc’s cartel rules. The European Commission also sent companies requests for information, it said without disclosing company names. “The inspections and requests for information concern possible collusion in relation to…
By Supantha Mukherjee, Foo Yun Chee and Jane Lanhee Lee STOCKHOLM/BRUSSELS/SAN FRANCISCO (Reuters) – Intel has picked Germany as the site for a huge new chipmaking complex, giving the first details of a $88 billion investment drive across Europe, which is striving to cut its reliance on imports and ease a supply crunch for manufacturers….
By Victoria Waldersee and Miranda Murray BERLIN (Reuters) -A lack of wiring harnesses from Ukraine has overtaken a shortage of semiconductors as Volkswagen’s biggest supply chain headache as the Russia-Ukraine war clouds its prospects for this year, the world’s No.2 carmaker warned on Tuesday. Rising raw material costs will drive up prices for both electric…
LONDON (AP) — U.S. chipmaker Intel unveiled plans on Tuesday to invest up to 80 billion euros ($88 billion) across Europe as part of an ambitious expansion aimed at evening out imbalances in the global semiconductor industry that have led to big chip shortages. CEO Pat Gelsinger said Intel was investing the money over the…
By Bansari Mayur Kamdar (Reuters) – Canada’s benchmark index extended losses for a third straight session on Tuesday, as weakness in energy and metal prices due to rising COVID-19 cases in China weighed on commodity stocks. At 10:00 a.m. ET (1400 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 161.23 points, or 0.76%,…
