ZURICH (Reuters) – Credit Suisse has no plans for a capital increase, a source familiar with the matter told Reuters on Wednesday, after the Swiss bank reported a dip in capitalisation. As the bank reported a 273 million Swiss franc ($283.6 million) first-quarter loss on Wednesday, executives said capital could remain constrained over the next…
WARSAW, Poland (AP) — Polish and Bulgarian leaders accused Moscow of using natural gas to blackmail their countries after Russia’s state-controlled energy company stopped supplying them with gas Wednesday. European Union leaders echoed those comments and were holding an emergency meeting on the Russian move. The gas cutoff to Poland and Bulgaria came after Russian…
HELSINKI (Reuters) – Elevator-maker Kone posted weaker-than-expected first-quarter core earnings on Wednesday, burdened by supply chain constraints and a decline in its China business, and trimmed its full-year sales and earnings outlook. January-March operating profit fell to 171.1 million euros ($181.6 million) from 249.8 million euros a year earlier, missing the 225.8 million euro estimate…
(Reuters) – Russia expects the economy to contract by 8.8% in 2022 in its base case scenario, or by 12.4% under a more conservative scenario, an economy ministry document showed on Wednesday, further evidence that sanctions pressure is taking its toll. The conservative forecast is in line with that of former finance minister Alexei Kudrin,…
BERLIN (Reuters) – Germany is preparing for a change of control at the PCK refinery in Schwedt operated by Russian state-owned Rosneft which accounts for all of Germany’s remaining Russian oil imports, Economy Minister Robert Habeck said on Wednesday. Germany has set out plans to become independent of Russian oil, which would make a European…
By Joice Alves LONDON (Reuters) – The euro fell below $1.06 for the first time in five years against a broadly strong U.S. dollar on Wednesday amid rising concerns around energy safety and growth slowdown in China and Europe. The euro slipped to a five-year low of $1.05890 after Russia’s Gazprom said it would cut…
(Reuters) – European shares slipped in choppy trade on Wednesday as markets took stock of mixed earnings updates, while energy tensions heightened after Russian energy giant Gazprom halted gas supplies to Bulgaria and Poland. The pan-European STOXX 600 inched 0.4% lower, set to extend its sell-off for a fourth straight day, and hovered near six-week…
BEIJING (AP) — Drone company DJI Technology Co has temporarily suspended business activities in Russia and Ukraine to prevent use of its drones in combat, in a rare case of a Chinese company pulling out of Russia because of the war. “DJI is internally reassessing compliance requirements in various jurisdictions. Pending the current review, DJI…
By Florence Tan (Reuters) -Oil prices extended gains on Wednesday amid simmering geopolitical tensions as Russia cut gas supplies to Bulgaria and Poland, while hopes of Chinese economic stimulus buoyed the demand outlook. Brent crude futures rose 67 cents, or 0.6%, to $105.66 a barrel by 0636 GMT. U.S. West Texas Intermediate crude futures gained…
NEW YORK (AP) — Payment processing giant Visa’s profits rose 21% in the first three months of the year fueled by a large jump in spending on the company’s namesake credit and debit card network. The San Francisco-based company reported Tuesday that it earned $3.65 billion, or $1.70 a share, in its fiscal second quarter…
