LONDON (AP) — Inflation in Europe soared to another record, according to new EU figures released Friday, in a fresh sign that rising energy prices fueled by Russia’s war in Ukraine are squeezing consumers and adding pressure on the central bank to raise interest rates. Consumer prices in the 19 countries that use the euro…
DUBAI, United Arab Emirates (AP) — The world is looking to Saudi Arabia to boost oil production as global energy prices spike because of Russia’s invasion of Ukraine. But that could mean rethinking how to deal with the kingdom’s controversial crown prince. Crown Prince Mohammed bin Salman’s ties with longtime allies have been troubled by…
By Shadia Nasralla LONDON (Reuters) -Oil prices fell on Friday ahead of a meeting of International Energy Agency (IEA) member nations set to discuss a release of emergency oil reserves alongside a huge planned release by the United States. Brent crude futures were down 71 cents, or 0.7%, to $104.00 a barrel by 0952 GMT,…
LONDON (AP) — Tia Rutherford is worried about her 3-year-old son. As energy prices soared last fall, she tacked fleece blankets over her doors and windows to keep the cold out and started serving Jacob breakfast in his room so she didn’t have to heat the living room. But she’s consumed by worry that she…
(Reuters) – The Russian rouble touched a more than five-week high in early Moscow trade on Friday before settling close to 83 to the dollar, and Russian stocks edged higher, with investors eyeing events in Ukraine and an ongoing gas payments saga. At 0741 GMT, the rouble was 0.1% weaker against the dollar at 83.25,…
SHANGHAI (Reuters) – Chinese exports to Russia are slowing as the rouble swings in value, clear evidence of a ripple effect that Western sanctions over Russia’s invasion of Ukraine are having in China, even as it sticks by its neighbour diplomatically. Chinese multinationals have stayed in Russia while their Western rivals flee but it is…
SHANGHAI (Reuters) -More than half of U.S. multinational companies in China have reduced their annual revenue projections, mostly due to the recent COVID-19 outbreak in Shanghai, according to a survey by the American Chamber of Commerce in Shanghai published on Friday. Responses to the survey, conducted with 167 companies operating throughout China including 76 in…
NEW YORK (AP) — Stocks notched modest gains and Treasury yields soared Friday on Wall Street after a healthy report on the U.S. job market strengthened expectations for coming interest rate hikes. The S&P 500 rose 0.3% after bouncing between small gains and losses. The benchmark index eked out a slight gain for the week,…
(Reuters) – Sanofi expects to list its drug ingredients business EUROAPI on May 6, having received approval from French stock market regulator, the pharmaceutical giant said on Friday. The listing is set to take place shortly after a May 3 shareholder meeting, at which Sanofi’s stakeholders will vote on the listing. Sanofi said the new…
By Nick Carey LONDON (Reuters) – UPS said on Friday it was trying out a four-wheeled “eQuad” electric cargo bike for deliveries in densely packed urban areas, where bikes have better and easier access, to complement its push into electric vehicles. The package-delivery giant is trialing around 100 of the bikes, designed and built by…
