By Essi Lehto HELSINKI (Reuters) – Finland’s Nokian Tyres is still running its Russian factory and as long as it stays in the company’s hands production there will not support Russia’s war in Ukraine, CEO Jukka Moisio told Reuters in an interview. The company turned from basking in record earnings to survival mode in February…
COMO, Italy (Reuters) – The head of carmaker Stellantis said on Friday he did not see an improvement in the semiconductor supply chain before next year. “Semiconductor supply is still very short, the situation is very similar to that of 2021, I would say 2022 would not bring a major improvement,” Chief Executive Carlos Tavares…
(Reuters) – The Russian rouble firmed on Friday, hovering near highs last seen in March 2020 against the euro and strengthening past 72 against the dollar, while the market awaited an expected rate cut by the central bank. Movements on the Russian market are partly artificial as the rouble is propped up by capital controls,…
By Jesús Aguado MADRID (Reuters) – Spanish bank BBVA beat forecasts on Friday with a 36.4% year-on-year rise in first quarter net profit, driven by a strong performance in emerging markets, led by Mexico. Net profit came in at 1.65 billion euros ($1.74 billion) in the January to March period, more than the 1.24 billion…
By Florence Tan and Muyu Xu SINGAPORE (Reuters) – Top oil exporter Saudi Arabia may cut prices for crude grades sold to Asia in June after benchmarks slumped from records in the previous month as COVID lockdowns curbed demand in China, the world’s biggest crude importer, traders said on Friday. Global markets were rattled last…
The Dow Jones Industrial Average slumped more than 900 points Friday as another sharp sell-off led by technology stocks added to Wall Street’s losses in April, leaving the S&P 500 with its biggest monthly skid since the start of the pandemic. A sharp drop in Amazon weighed on the market after the internet retail giant…
By Andrew Mills and Parisa Hafezi DUBAI (Reuters) – Twitter buyer Elon Musk calls himself a free speech absolutist, but that could be put to the test in the Middle East where critics say authoritarian governments use the platform to track opponents and spread disinformation. In a region where the local media is often…
BEIJING (Reuters) -China will step up macroeconomic policy support to stabilise the economy as domestic COVID-19 outbreaks and the Ukraine war raise risks, state media quoted the Politburo, a top decision-making body of the ruling Communist Party, as saying on Friday. China will adopt a package of policies to help COVID-hit industries and small firms,…
BEIJING (Reuters) – China will step up macroeconomic policy adjustments to stabilise the economy as challenges and risks increase, state media quoted the Politburo, a top decision-making body of the ruling Communist Party, as saying on Friday. China will adopt a package of policies to support COVID-hit industries and small firms, they added, citing a…
By Vivek Mishra BENGALURU (Reuters) – The Reserve Bank of Australia will raise interest rates for the first time in more than a decade on Tuesday and join a long list of central banks now expected to tighten policy at a much faster pace than previously thought, a Reuters poll found. A surge in inflation…
