WASHINGTON (AP) — With Congress voting to suspend normal trade relations with Russia and ban the importation of its oil, President Joe Biden’s action to tighten the U.S. squeeze on Russia’s economy now can intensify. The action Thursday by the U.S. House and Senate to revoke Moscow’s “most favored nation” trade status and ban oil…
By Elizabeth Dilts Marshall NEW YORK (Reuters) – World shares slid on Friday, pressured by uncertainty about the conflict in Ukraine and expectations the Federal Reserve will hike U.S. interest rates next week. The Nasdaq and the S&P 500 fell, weighed down by tech and growth stocks. Oil prices settled up for the day but…
By John McCrank and Joice Alves New York (Reuters) -The dollar rose on Friday, notching a five-year high against the safe-haven yen, while commodity-linked currencies slumped after Russian President Vladimir Putin said there had been some progress in talks between Moscow and Ukraine. Putin said in a meeting with his Belarusian counterpart Alexander Lukashenko that…
FRANKFURT (Reuters) -Deutsche Bank said on Friday that it would wind down its business in Russia. Deutsche had faced stinging criticism from some investors and politicians on Friday for its ongoing ties to Russia after saying that leaving would go against its values, as other banks cut off ties. “Like some international peers and in…
By Richa Naidu LONDON (Reuters) -Many Nike stores throughout Russia were open on Friday afternoon, according to checks made by Reuters, more than a week after the world’s biggest sports retailer said it was temporarily closing down all its shops in the country. At one of six Moscow stores Reuters reached by phone, an employee…
By Shariq Khan BENGALURU (Reuters) -Oil prices rose Friday but still on track for a weekly decline as traders weighed headlines around Russia and Iran suggesting more possible supply disruptions, versus those promising remedies in a tight market. Benchmark futures have soared since Russia’s invasion of Ukraine. Early this week they hit their highest levels…
FRANKFURT (Reuters) -Volkswagen AG, Europe’s largest carmaker, on Friday said that Russia’s invasion of Ukraine could dent business this year, as it reported a doubling of operating profit for 2021. Carmakers including Volkswagen and BMW are scrambling to find alternative sources of vital parts made in Ukraine from as far afield as China and Mexico,…
VERSAILLES, France (AP) — European Union leaders said Friday they will continue applying pressure on Russia by devising a new set of “massive” sanctions to punish Moscow for its invasion of Ukraine while stepping up military support for Kyiv. Speaking at the conclusion of a two-day EU summit outside Paris, French President Emmanuel Macron said…
By Anisha Sircar, Bansari Mayur Kamdar and Susan Mathew (Reuters) -European shares marked their biggest weekly gain this year, as signals from Russian President Vladimir Putin about a positive shift in talks with Ukraine helped markets end a volatile week on a firmer footing on Friday. The pan-European STOXX 600 index closed 1% higher, and…
(Corrects attribution of data for graphics and U.S. monthly revenue to Auto Rental News, instead of the American Car Rental Association) By Tina Bellon (Reuters) -The $100 billion Western rental car industry, flush with cash from a profitable pandemic, is gradually getting its electric show on the road, and Chinese-made vehicles are poised to play…
