By Praveen Menon and Sam Nussey (Reuters) – Rio Tinto became the first major mining company to cut ties with Russian businesses and Japan’s Sony and Nintendo suspended deliveries of their gaming consoles, joining a global corporate exodus from Russia over its invasion of Ukraine. Japanese construction machinery supplier Hitachi said it would stop exports…
By Simon Jessop, Ross Kerber and Karin Strohecker LONDON (Reuters) – For funds undeterred in their investment choices by the killing of Saudi journalist Jamal Khashoggi or China’s treatment of the Uyghurs, Russia’s invasion of Ukraine is proving a wake-up call. Buying into companies on the basis of environmental, social and governance (ESG) factors is…
By Sinead Cruise and John O’Donnell LONDON/FRANKFURT (Reuters) -France’s largest bank BNP Paribas has cut off its Russia-based workforce from its internal computer systems as it seeks to bolster its defences against any potential cyber attack, a source with direct knowledge of the matter told Reuters. The French lender, believed to be the first major…
By Selena Li and Samuel Shen HONG KONG (Reuters) – Capital-hungry smaller Chinese startups are vying for speedy offshore listings by merging with blank-check firms at a time when Beijing’s tighter scrutiny has slowed capital raising via overseas IPOs, company executives and bankers said. As a string of special purpose acquisition companies (SPACs) hunt for…
(Reuters) – U.S. solar installations soared 19% to hit a record last year, but new capacity will slide in 2022 as project developers struggle with cost inflation and shipping delays, according to an industry forecast published on Thursday. The subdued outlook comes as the industry is lobbying aggressively for Congress to extend subsidies that have…
By Sonali Paul MELBOURNE (Reuters) – Oil prices rose on Thursday following a sharp drop in the previous session as the market contemplated whether major producers would boost supply to help plug the gap in output from Russia due to sanctions for its invasion of Ukraine. Brent crude futures were up $3.10, or 2.8%, at…
(Reuters) -Electric-car maker Tesla Inc on Wednesday raised prices of its U.S. Model Y SUVs and Model 3 Long Range sedans by $1,000 each and some China-made Model 3 and Model Y vehicles by 10,000 yuan ($1,582.40), according to its website. The company increased prices for the most affordable versions of Model 3 and Model…
(Refiles to correct headline to show company is Chevron and Phillips joint venture not Chevron unit) By Valerie Volcovici WASHINGTON (Reuters) -A joint venture between Chevron Corp and Phillips 66 has agreed to spend $118 million to upgrade and clean up three of its petrochemical plants on the Gulf Coast and pay a $3.4 million…
By Rocky Swift and Yuka Obayashi TOKYO (Reuters) – Resource-poor Japan depends overwhelmingly on fossil-fuel imports to meet its energy needs, complicating calls for the nation to boycott Russia’s oil and liquefied natural gas (LNG) after Moscow’s invasion of Ukraine. Here’s what’s at stake: WHAT’S IN JAPAN’S ENERGY MIX, AND WHY IS LNG SO IMPORTANT?…
LONDON (Reuters) -The risk of a Russian debt default is turning attention to the insurance policies known as Credit Default Swaps (CDS) that investors take out for this kind of situation. Here is how CDS work and why the situation in Russia means the situation might be more complicated than normal. WHAT ARE CREDIT DEFAULT…
