By Rowena Edwards LONDON (Reuters) -Oil prices were stable on Monday, struggling to reverse last week’s losses as the market balanced tightening supplies with concerns about slowing global economic growth. Brent crude futures were down 38 cents, or 0.3%, at $112.74 a barrel by 1022 GMT. Front-month prices tumbled 7.3% last week, their first weekly…
KYIV, Ukraine (AP) — Russia’s military kept grinding down Ukraine’s defenses Monday, with combat in eastern areas said to be entering a “decisive” phase, as the war’s consequences for food and fuel supplies increasingly weighed on minds around the globe. In Ukraine’s eastern Luhansk region, which in recent weeks has become the focal point of…
By Paul Sandle LONDON (Reuters) -Low-cost airline easyJet said on Monday it was cutting thousands more flights this summer after London Gatwick and Amsterdam airports reduced capacity and it battled staff shortages on the ground and in the air. The British carrier said it expected to fly about 90% of its pre-pandemic capacity in July,…
LONDON (AP) — Britain is facing its biggest rail strikes in decades after last-minute talks between a union and train companies failed to reach a settlement over pay and job security. Up to 40,000 cleaners, signalers, maintenance workers and station staff are due to walk out for three days this week, on Tuesday, Thursday and…
By Sruthi Shankar (Reuters) -European stocks edged higher on Monday after a sharp selloff last week on recession worries, while French shares lagged its peers after President Emmanuel Macron lost an absolute majority in the country’s parliamentary election. The pan-European STOXX 600 index rose 0.4%, with battered banking, travel and retail stocks leading the gains….
BERLIN/ZURICH (Reuters) – ABB has further delayed the planned flotation of its electric vehicle charging business, the Swiss engineering and technology company said on Monday, citing the turbulence unsettling stock markets. ABB had pushed back the proposed IPO of the E-mobility business earlier this month, although it had planned to launch the process in the…
By Chen Aizhu SINGAPORE (Reuters) -China’s crude oil imports from Russia soared 55% from a year earlier to a record level in May, displacing Saudi Arabia as the top supplier, as refiners cashed in on discounted supplies amid sanctions on Moscow over its invasion of Ukraine. Imports of Russian oil, including supplies pumped via the…
PARIS (Reuters) -U.S. healthcare giant Pfizer has agreed to invest 90.5 million euros ($95.24 million) to buy an 8.1% percent stake in French vaccines company, as the companies announced developments in their partnership to tackle the Lyme disease. Pfizer will buy the stake in Valneva, which is also working on its COVID-19 vaccine, at a…
A look at the day ahead in markets from Dhara Ranasinghe. On top of surging inflation, rising interest rates and growing global recession risks, markets in Europe are waking up on Monday to the prospect of heightened uncertainty in France — the euro area’s second biggest economy. French President Emmanuel Macron is trying to salvage…
By Chen Lin and Bernadette Christina SINGAPORE/JAKARTA (Reuters) – Indonesian authorities hope to reach an agreement with Singapore to start exporting chickens within weeks, officials said, as the city-state scrambles to find alternative supply sources after another neighbour Malaysia restricted sales. In a further sign of growing global food shortages and supply chain issues, Malaysia…
