NEW YORK (AP) — The leaders of OPEC and its oil-producing allies are sticking with their plan to gradually increase oil production while Russia’s invasion of Ukraine rattles markets, reshapes alliances, kills civilians and sends the price of crude skyrocketing. The OPEC+ coalition of oil producers — made up of OPEC members led by Saudi…
By Elizabeth Howcroft LONDON (Reuters) – Stocks came under renewed pressure and oil spiked further on Wednesday, as Russia showed no signs of stopping its assault on Ukraine. A week after Russian President Vladimir Putin ordered a full-scale invasion of its neighbour, the bombardments of Ukrainian cities continued while Western nations tightened sanctions on Moscow….
LA HERRADURA, Spain (AP) — “Herders and farmers have their feet on the ground, but their eyes on the sky.” The old saying is still popular in Spain’s rural communities who, faced with recurrent droughts, have historically paraded sculptures of saints to pray for rain. The saints are out again this year as large swaths…
FRANKFURT (Reuters) – European banks opened lower on Wednesday after two days of steep losses as the crisis in Ukraine drags on, and after the European arm of Russia’s Sberbank was forced to close. An index of leading European bank stocks fell 2.2% early on Wednesday, after dropping 5.6% on Tuesday and 4.5% on Monday…
MOSCOW (AP) — As Russia’s top diplomat during the invasion of Ukraine, Foreign Minister Sergey Lavrov is embodying the Kremlin’s defiant posture with a mixture of toughness and sarcasm. While President Vladimir Putin single-handedly shapes the country’s foreign policy, Lavrov delivers Moscow’s message with a bluntness uncharacteristic of a diplomat. In the role for nearly…
By Simon Jessop LONDON (Reuters) – The corporate world remains far from being aligned with global climate goals, and in some countries has gone backwards since a landmark agreement to cap global warming was signed in 2015, data shows. Limiting the world’s temperature rise to 1.5 degrees Celsius above the pre-industrial average by mid-century was…
MOSCOW (Reuters) -Russia’s largest lender, Sberbank, is leaving the European market as its subsidiaries there face large cash outflows and threats to the safety of employees and property, the bank said on Wednesday. The bank, set to unveil 2021 financial results later, said it was no longer able to supply liquidity to European subsidiaries, following…
(Reuters) – Russia’s oil and gas condensate output rose in February to 11.06 million barrels per day (bpd), according to Reuters calculations based on an Interfax report on Wednesday, while trading has been stalled due to sanctions over Ukraine. The production rose from 11 million bpd in January, while in tonnes, Russia’s total oil and…
BEIJING (AP) — Asian stock markets rebounded Thursday and oil prices climbed higher after the head of the Federal Reserve said he supports a smaller rise in interest rates than some expected. Shanghai, Tokyo, Hong Kong and Sydney advanced even as Russian forces whose attack on Ukraine has roiled financial markets bombarded the country’s second-largest…
WASHINGTON (AP) — Moscow’s war on Ukraine and the ferocious financial backlash it’s unleashed are not only inflicting an economic catastrophe on President Vladimir Putin’s Russia. The repercussions are also menacing the global economy, shaking financial markets and making life more perilous for everyone from Uzbek migrant workers to European consumers to hungry Yemeni families….
