By Stephanie Kelly NEW YORK (Reuters) -Oil prices rose over 3% on Friday supported by real and threatened cuts to supply, although futures were set for a second weekly decline as aggressive interest rate hikes and China’s COVID-19 curbs weighed on the demand outlook. Russian President Vladimir Putin has threatened to halt oil and gas…
By Mehnaz Yasmin (Reuters) -FTX Ventures plans to scoop up a 30% stake in SkyBridge Capital, the companies said, making it the latest in a flurry of deals by cryptocurrency’s white knight Sam Bankman-Fried. Financial terms of the deal were not disclosed by the companies. SkyBridge, the alternative investment firm led by Anthony Scaramucci, will…
JOHANNESBURG (Reuters) -South Africa’s Competition Commission approved Heineken’s purchase of wine and cider company Distell Group as long as the merged entity invests more than 10 billion rand ($578 million) over five years in the country. The Commission said on Friday the investment would be to maintain and grow the aggregate productive capacity of its…
By Dhara Ranasinghe LONDON (Reuters) -Banks including Deutsche Bank and BofA said on Friday they expect another 75 basis point rate hike from the European Central Bank in October, a day after the central bank delivered a supersized interest-rate rise of that size to tame inflation. The ECB raised its key rates by an unprecedented…
LA CHAPELLE-SAINT-MESMIN, France (AP) — For the glassmakers at iconic French tableware brand Duralex, the mornings have become a horror show. Daily updates from energy traders drop into their email inboxes, showing the asphyxiating upward climb of prices for the natural gas and electricity that power their energy-devouring business. Before Europe’s energy crisis — which…
By Foo Yun Chee BRUSSELS (Reuters) – EU antitrust regulators confirmed on Friday that they would not appeal a court ruling scrapping its 997 million euro ($1 billion) fine against Qualcomm, drawing a line under a long-running saga. Reuters reported last month that the European Commission would not appeal the General Court’s June judgment because…
By Julie Gordon OTTAWA (Reuters) – Canada’s economy shed jobs for the third straight month in August and the jobless rate unexpectedly jumped to 5.4%, Statistics Canada data showed on Friday. The economy lost a net 39,700 jobs in August, missing analyst forecasts it would add 15,000. The jobless rate was also worse-than-expected, analysts having…
By Nupur Anand MUMBAI (Reuters) – Indian lender Yes Bank is likely to approve the transfer of stressed assets worth 480 billion rupees ($6 billion) to private equity firm J.C. Flowers at its next board meeting, said a source with direct knowledge. A rival consortium led by private equity firm Cerberus and Asset Reconstruction Company…
(Reuters) – Germany does not currently have to make alternative investments after the European Central Bank decided to temporarily pay interest on government deposits, a finance agency spokesperson told Reuters. The ECB said on Thursday it would pay interest on governments’ cash deposits until April 2023, temporarily removing a 0% cap after it hiked rates….
BERLIN (AP) — German gas importer VNG is seeking help from the government after cuts to Russian gas supplies forced it to buy gas at far higher prices on the market to fulfill its supply contracts. Energy company EnBW, which has a majority stake in VNG, said Friday that its subsidiary was submitting an application…
