By Matt Scuffham, Sinead Cruise and Niket Nishant NEW YORK/LONDON (Reuters) – Goldman Sachs Group Inc said on Thursday it was closing its Russian business, becoming the first major U.S. bank to exit following Russia’s invasion of Ukraine and putting pressure on rivals to follow. Operating in Russia has become increasingly difficult for Western financial…
(Reuters) – Mining companies with ties to Russian businesses are scrambling to sever them in the aftermath of Russia’s invasion of Ukraine. Britain on Thursday imposed sanctions on seven high-profile Russian oligarchs including Oleg Deripaska, who partly owns EN+ Group, the parent company of UC Rusal, the world’s second-largest aluminium producer. Russia’s ruling party, United…
By Devik Jain and Sabahatjahan Contractor (Reuters) – The tech-heavy Nasdaq fell nearly 2% on Thursday as U.S. inflation rose to a four-decade high in February, cementing the chances of the Federal Reserve raising interest rate later this month. Monthly consumer prices rose 7.9% in February from a year earlier, the Labor Department data showed,…
(Reuters) – The Russian government has banned exports of cars, airplanes and drones until the end of this year, the Russian TASS news agency said on Thursday. Earlier on Thursday, Russia sought to retaliate against Western sanctions imposed over its invasion of Ukraine by banning exports of certain goods and agricultural commodities. (Editing by Alex…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer prices surged in February, with Americans digging deeper into their wallets to pay for rents, food and gasoline, and inflation is poised to accelerate further in the months ahead as Russia’s war against Ukraine drives up the costs of crude oil and other commodities. The broad rise…
By Howard Schneider WASHINGTON (Reuters) – The gusher of money the U.S. government poured into family bank accounts during the coronavirus pandemic, credited with speeding the rebound from the health crisis, may now help limit the economic damage from Russia’s invasion of Ukraine and give the Federal Reserve more leeway in raising interest rates. As…
(Reuters) – Russia’s central bank said on Thursday that it was introducing restrictions on local firms’ access to foreign-currency cash for the next six months, the latest step to preserve precious hard currency in the face of sanctions imposed over Ukraine. During the period of restrictions from March 10 to Sept. 10, local companies and…
By John McCrank and Julien Ponthus NEW YORK (Reuters) – The euro retreated from its overnight gains on Thursday following the European Central Bank’s announcement it will phase out its stimulus in the third quarter, while the dollar strengthened after a strong U.S. inflation report. The statement from the ECB, which left the door open…
By Balazs Koranyi and Francesco Canepa FRANKFURT (Reuters) – The European Central Bank will end asset purchases in the third quarter, it said on Thursday, moving ahead with its exit from stimulus as soaring inflation outweighs concerns about the economic impact of Russia’s invasion of Ukraine. With price growth in the euro zone at a…
By Rajesh Kumar Singh GREENVILLE, S.C. (Reuters) – General Electric Co on Thursday reiterated its 2022 earnings forecast, but said Russia’s invasion of Ukraine has added to business uncertainty. The Boston-based industrial conglomerate last month warned that its profits would suffer in the first half of this year due to persistent supply-chain and inflationary pressures….
