MOSCOW (AP) — A key Russian natural gas pipeline will shut down for three days of maintenance at the end of this month, the state-owned energy company Gazprom announced Friday, raising economic pressure on Germany and other European countries that depend on the fuel to power industry, generate electricity and heat homes. The latest shutdown…
(Reuters) -A U.S. regulator has authorized Berkshire Hathaway Inc, the company controlled by billionaire Warren Buffett, to buy up to 50% of the common stock of oil company Occidental Petroleum Corp. In an order made public on Friday, the Federal Energy Regulatory Commission (FERC) said that authorization was “consistent with the public interest.” Occidental shares…
By Ludwig Burger and Christoph Steitz FRANKFURT (Reuters) -Fresenius SE said its long-serving Chief Executive Stephan Sturm would quit, to be replaced by the head of its drugs unit, after the diversified group’s earnings were hit following the COVID pandemic and a surge in costs. Michael Sen, a former management board member of Siemens and…
SILVER SPRING, Md. (AP) — The chief executive who oversaw the rapid expansion of Ulta Beauty will take over as CEO of Foot Locker during a period of significant transition for the chain. Mary Dillon, one of only 31 women leading a S&P 500 company before stepping down as the top executive at Ulta early…
By Jamie McGeever ORLANDO, Fla. (Reuters) – Retail investors are back. In fact, they never went away. The recent rebound on Wall Street has been partly credited to strong buying by traditionally small-time ‘mom & pop’ investors. This investor base has changed dramatically in recent years, especially since the COVID-19 pandemic. The flourishing of social…
(Reuters) -The head of Myanmar’s central bank was replaced on Friday as part of a surprise reshuffle by the military junta which seized power in a coup last year, state media reported. Deputy Governor Than Than Swe, who was hospitalised after being shot by unidentified attackers at her home earlier this year, will now head…
MOSCOW (Reuters) – Russia’s state communications watchdog Roskomnadzor said on Friday that it was taking punitive measures against a string of foreign IT companies, including TikTok, Telegram, Zoom, Discord and Pinterest. In a statement, Roskomnadzor said that the measures were in response to the companies’ failure to remove content that it had flagged as illegal,…
(Reuters) – Online furniture retailer Wayfair Inc said on Friday it would cut about 870 jobs, or 5% of its global workforce, as it looks to bring down operating expenses and realign investment priorities. (Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Anil D’Silva)
(Reuters) – Deere & Co reported a rise in quarterly profit on Friday as higher equipment demand coupled with a robust pricing environment helped the world’s largest farm equipment maker to offset inflationary cost pressures. Gaps between the supply and demand for grains increased amid the Ukraine crisis while growing consumer demand spiked prices, putting…
Stocks are broadly lower on Wall Street in afternoon trading Friday, putting major indexes on track for losses that will end a solid run of weekly gains. The S&P 500 fell 1.3% as of 3:29 p.m. Eastern. The benchmark index is now on pace to break a four-week winning streak. The Nasdaq fell 2% and…
