By Anisha Sircar, Medha Singh and John McCrank (Reuters) – A clutch of stocks favored by retail traders tumbled on Monday in volatile trading as news that UK-based Cineworld warned of a possible bankruptcy sent AMC Entertainment Holdings’ shares diving almost 40% on the day that the U.S. movie chain’s preferred shares started trading. Bed…
(Reuters) – The Moscow Exchange will ban the use of dollars as collateral to underwrite transactions, it said on Monday, as Russia seeks to cut dependence on currencies of nations that have imposed sanctions on it. A statement posted on the exchange’s website said the new policy would come into effect on Aug. 29. It…
By Jessica DiNapoli and Jonathan Stempel NEW YORK (Reuters) – A federal judge on Monday rejected Ben & Jerry’s attempt to force its parent company Unilever Plc to immediately stop selling or marketing its ice cream in the Israeli-occupied West Bank. Burlington, Vermont-based Ben & Jerry’s sued Unilever in July to try to stop the…
BERLIN (AP) — Several substances seem to have contributed to the massive fish die-off in the Oder River that forms much of Germany’s border with Poland, a German official said Monday. Numerous theories have been floated about the cause of the environmental disaster, but so far none have been conclusive, a spokesman for Germany’s Environment…
DETROIT (AP) — About 3,000 white-collar workers at Ford Motor Co. will lose their jobs as the company cuts costs to help make the long transition from internal combustion vehicles to those powered by batteries. Leaders of the Dearborn, Michigan, automaker made the announcement Monday in a companywide email, saying that 2,000 full-time salaried workers…
By Ahmed Aboulenein WASHINGTON (Reuters) – The U.S. government will soon begin hiring experts and collecting the data needed to launch direct negotiations over prescription drug prices for older and disabled people, a top Biden administration official told Reuters. President Joe Biden last week signed into law the Inflation Reduction Act, introducing new policies to…
NICOSIA, Cyprus (AP) — A new natural gas discovery off Cyprus’ southern coast that is estimated to contain around 2.5 trillion cubic feet of the hydrocarbon bolsters Europe’s efforts to secure alternative energy sources, the Cypriot energy ministry said Monday, as a supply crisis triggered by Russia’s invasion of Ukraine continues to trouble the continent….
MOSCOW (Reuters) -Europe faces fresh disruption to energy supplies due to damage to a pipeline system that brings oil from Kazakhstan through Russia, the pipeline operator said on Monday, adding to concerns over a plunge in gas supplies. CPC, which handles about 1% of global oil and whose largest shareholder is Russian pipeline firm Transneft,…
BERLIN (AP) — Adidas CEO Kasper Rorsted will step down next year, the sports apparel maker said Monday, and the company has started looking for a successor. Rorsted, who has been CEO since 2016, and its supervisory board “mutually agreed” that he will hand over during the course of 2023, the Herzogenaurach, Germany-based Adidas said….
(Reuters) – Wall Street’s main indexes opened lower on Monday, with the tech-heavy Nasdaq leading losses, as investors worried about hawkish signals from U.S. Federal Reserve policymakers in the face of slowing economic growth. The Dow Jones Industrial Average fell 120.15 points, or 0.36%, at the open to 33,586.59. The S&P 500 opened lower by…
