By David Henry and Niket Nishant (Reuters) -Citigroup Inc’s total exposure to Russia amounts to nearly $10 billion, the bank said on Monday, higher than previously communicated, following questions over whether it will have to set aside funds to cover potential losses. Citigroup listed Russia as 21 among its top 25 country exposures with $5.4…
LONDON (AP) — Global oil and gas giant Shell said Monday that it is pulling out of Russia as President Vladimir Putin’s invasion of Ukraine continues to cost the country’s all-important energy industry foreign investment and expertise. Shell announced its intention to exit its joint ventures with Russia’s state-owned energy giant Gazprom and related entities,…
NEW YORK (Reuters) – Nasdaq Inc and Intercontinental Exchange Inc’s NYSE have temporarily halted the trading in stocks of Russia-based companies listed on their exchanges, their websites showed. The halts were due to regulatory concerns as the exchanges seek more information following economic sanctions against Russia following its invasion of Ukraine, said sources familiar with…
By Jacob Gronholt-Pedersen COPENHAGEN (Reuters) – Toymaker Lego has recommended that its staff in Russia not attend protests or get involved in any public discussion about the war in Ukraine, after police detained thousands at anti-war protests across Russia. The advice was given to ensure the safety of its employees, but also highlights the challenge…
By Ben Klayman (Reuters) -Global auto and truck makers, including Sweden’s Volvo Cars and Germany’s Daimler Truck, on Monday suspended some business in Russia following that country’s invasion of Ukraine. Russian forces invaded Ukraine last week, marking the biggest attack by one state against another in Europe since World War Two. Many firms have idled…
By Lucia Mutikani WASHINGTON (Reuters) – The U.S. trade deficit in goods widened sharply to a record high in January amid an increase in imports as businesses continued to replenish depleted inventories. The pace of inventory accumulation reported by the Commerce Department on Monday was, however, slower than in recent months. That, together with the…
By Akash Sriram (Reuters) -Electric vehicle startup Lordstown Motors Corp said on Monday it plans to sell its first 500 Endurance electric pickup trucks this year even as expenses related to the launch surged in the fourth quarter, sending its shares down 16%. The company, when it went public under the previous management, had previously…
BRUSSELS (AP) — Within days, Russian President Vladimir Putin has achieved what remained out of the grasp of the European Union for many decades — to jointly buy and send weapons to a war zone — and restored something that was broken for years — trans-Atlantic unity. For years, Putin could sit back and relish…
By Anne Kauranen HELSINKI (Reuters) -Airlines on Monday braced for a potentially lengthy dispute after the European Union (EU) banned Russian airlines from its airspace and Moscow responded in kind, barring carriers from 36 countries including all 27 members of the European Union. Dozens of flights were cancelled or sent on costly detours as the…
(Reuters) -The Russian rouble tumbled to a record low in extremely volatile trade on Monday, losing a third of its value so far this year, but an emergency rate hike and other urgent measures adopted by the central bank helped it trim losses. The Bank of Russia had sold around $1 billion from its reserves…
