MILAN (Reuters) – Italy’s biggest bank Intesa Sanpaolo said it was determined to support customers of its Ukrainian subsidiary Pravex Bank and was opening branches in the country to provide essential services whenever it was safe to do so. With 780 staff and around 45 branches, Intesa is the only Italian bank operating in Ukraine….
By Nadine Schimroszik and Christoph Steitz POTSDAM, Germany (Reuters) -Tesla received a conditional go-ahead for its German gigafactory near Berlin on Friday, the state of Brandenburg said, ending months of delay for the 5 billion euro ($5.5 billion) landmark plant. The gigafactory, which is key to Tesla CEO Elon Musk’s ambitions to vanquish European market…
(Reuters) -Russian lender TCS Group Holding on Friday said it was benefitting from increased liquidity as volatility and outflows hit its sanctioned rivals, and that central bank efforts to support the embattled sector were bearing results. Major banks have been excluded from the SWIFT global messaging network, making it hard for lenders and companies to…
(Removes paragraph on reverse Yankees which included incorrect reference to Boston Scientific) By Yoruk Bahceli (Reuters) -Companies returned to Europe’s corporate bond market to issue debt on Thursday after it remained frozen for a week following Russia’s invasion of Ukraine. U.S. medical device company Boston Scientific American launched three, six, nine and 12-year bonds for…
MIAMI (AP) — Sanctions on Russia are starting to wreak havoc on global trade, with potentially devastating consequences for energy and grain importers while also generating ripple effects across a world still struggling with pandemic-induced supply chain disruptions. Since Russia’s invasion of Ukraine, hundreds of tankers and bulk carriers have been diverted away from the…
(Reuters) – Wall Street’s main indexes opened lower on Friday as concerns over the intensifying conflict in Ukraine overshadowed data that showed an acceleration in jobs growth last month. The Dow Jones Industrial Average fell 139.23 points, or 0.41%, at the open to 33,655.43. The S&P 500 opened lower by 21.37 points, or 0.49%, at…
BERLIN (Reuters) – Tesla has received a conditional license to begin production at its electric vehicle (EV) factory and adjacent battery plant in Gruenheide, Germany, the local environmental ministry in Brandenburg said on Friday. The factory, which Tesla has begun constructing under pre-approval permits, is set to produce over 500,000 battery-electric vehicles a year, while…
NEW YORK (Reuters) – U.S. employers hired far more workers than expected in February, pushing the labor market closer to maximum employment, but rising headwinds from geopolitical tensions could hurt business confidence and slow job growth in the months ahead. The Labor Department’s closely watched employment report’s survey of establishments on Friday showed nonfarm payrolls…
By Naveen Thukral and Pratima Desai SINGAPORE/LONDON (Reuters) – Commodity markets were on track on Friday for their biggest weekly gains in years as the shuttering of Ukrainian ports and sanctions against Russia sent energy, crop and metal buyers scrambling for replacement supplies. Russia is one of the world’s biggest exporters of key raw materials,…
WASHINGTON (AP) — In a buoyant sign for the U.S. economy, businesses stepped up their hiring last month as omicron faded and more Americans ventured out to spend at restaurants, shops and hotels despite surging inflation. Employers added a robust 678,000 jobs in February, the largest monthly total since July, the Labor Department reported Friday….
