HELSINKI (Reuters) – Finland’s Nokian Tyres said on Friday it was shifting production of selected key product lines from Russia to Finland and the United States to prepare for possible future sanctions following Russia’s invasion of Ukraine. The company has also begun transporting tyres out of Russia to warehouses closer to its customers, a spokesperson…
BRUSSELS (AP) — The United States and European allies said Friday they were stepping up sanctions over Russia’s invasion of Ukraine by adding measures directly targeting President Vladimir Putin and his foreign minister, putting diplomatic appeals to one side as Russia’s forces closed on Ukraine’s capital. The move by the U.S., the European Union and…
PARIS (Reuters) -French Finance Minister Bruno Le Maire said on Friday the option of cutting off Russia from the SWIFT global interbank payments system remained open, but that he viewed this only as a last resort. The United States and the European Union opted not to cut Russia off from SWIFT as part of toughened…
LONDON (Reuters) – British Airways-owner IAG is not experiencing the same issues as Qatar Airways with surface degradation of paint on the Airbus A350 jets it operates, Chief Executive Luis Gallego said on Friday. “We don’t have the same type of issues that Qatar has, and we are operating A350s, and we have not had…
By John Revill ZURICH (Reuters) -Holcim is confident it can handle energy price spikes caused by the Ukraine crisis, CEO Jan Jenisch said on Friday, after the world’s biggest cement-maker reported fourth-quarter earnings slightly ahead of forecasts. The Swiss company expects “very limited” direct impact from the conflict, which has driven fuel costs higher, retaining…
PARIS (Reuters) – Casino on Friday said it was confident it would recover sales momentum this year in France as the pandemic eases and improve cash flow generation after reporting a 12% fall in 2021 group operating profit to 1.193 billion euros ($1.34 billion). The French retailer, which has been selling assets to cut debt,…
NEW YORK (AP) — Wall Street capped a turbulent week of trading Friday with a broad rally for stocks as relief flowed through the market, even as deadly attacks raged in Ukraine. Oil fell and investors turned away from gold and other traditional havens they favor when fear is high. The S&P 500 climbed 2.2%…
HELSINKI (Reuters) – Finnish premium department store chain Stockmann on Friday posted a rise in fourth-quarter earnings and said it expected the positive development to continue as long as no major COVID-19 restrictions are imposed anymore. The 160-year-old retailer, which has gone through heavy cost cutting and debt management, said its October-December operating profit was…
By Liangping Gao and Ryan Woo BEIJING (Reuters) -Shaken by a liquidity crunch among developers, China’s property market is expected to stay soft in the first half of 2022 before rebounding later in the year as policies aimed at encouraging buyers helps sentiment recover, a Reuters poll showed. Having been a pillar of strength for…
By Emily Chow BEIJING (Reuters) – Oil prices jumped nearly 3% on Friday as Russia’s invasion of Ukraine stoked global supply concerns as markets brace for the potential impact of trade sanctions on major crude exporter Russia. Global benchmark Brent crude rose $2.72, or 2.75%, to $101.80 a barrel around 0347 GMT on Friday, after…
