BERLIN (AP) — German Chancellor Olaf Scholz insisted Tuesday that his country was well-prepared to tackle a possible energy shortage due to Russia’s squeeze on European gas supplies, as fears grow about the rising prices that will hit consumers across the continent this winter. Speaking at the start of a two-day government retreat, Scholz cited…
Tesla CEO Elon Musk and Twitter lobbed more accusations at each other Tuesday in the latest round of legal filings over Musk’s efforts to rescind his offer to buy the social media platform. Musk filed more paperwork in his bid to terminate the deal, this time based on information in a whistleblower complaint filed by…
BEIJING/SYDNEY (Reuters) – China’s three biggest airlines posted on Tuesday a combined 28.4 billion yuan ($4.12 billion) second-quarter loss, wider than in the first quarter, due to major travel disruptions including a strict COVID-related lockdown in Shanghai. The country’s policy of localised lockdowns in response to case numbers that are small by global standards has…
KYIV, Ukraine (AP) — Ukraine claimed to have destroyed bridges and ammunition depots and pounded command posts in a surge of fighting in the Russian-occupied south, fueling speculation Tuesday that its long-awaited counteroffensive to try to turn the tide of war was underway. Russia said it repelled the attack and inflicted heavy casualties. The clashes…
By Rowena Edwards LONDON (Reuters) – Oil prices fell Tuesday on fears that an inflation-induced weakening of global economies would soften fuel demand, and as Iraqi crude exports have been unaffected by clashes. Brent crude futures for October settlement fell $2.45, or 2.33%, to $102.64 a barrel by 1022 GMT, after climbing 4.1% on Monday,…
BEIJING (Reuters) – Industrial and Commercial Bank of China Ltd (ICBC), the world’s largest commercial lender by assets, said net profit grew 4.9% year-on-year in the first half of this year as the Chinese economy recovered from the COVID-19 pandemic. Profit was 171.5 billion yuan ($24.82 billion)in the six months through June, compared with 163.47…
(This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine) MOSCOW (Reuters) – The rouble firmed towards 60 against the dollar and euro in early Moscow trade on Tuesday, while higher oil prices helped push Russia’s benchmark stock index to its highest point in two months. At 0716…
By Arathy Somasekhar (Reuters) -Oil prices dipped on Tuesday, paring some gains from the previous session, as the market feared that more aggressive interest rates hikes from central banks may lead to a global economic slowdown and soften fuel demand. Brent crude futures for October settlement dropped 56 cents, or 0.5%, to $104.53 a barrel…
COLOMBO, Sri Lanka (AP) — Sri Lanka’s president said Tuesday that his bankrupt country’s talks with the International Monetary Fund for a rescue package have successfully reached final stages as he presented an amended budget that seeks to tame inflation and hike taxes. President Ranil Wickremesinghe, who is also the finance minister, said in a…
BEIJING (AP) — Asian stocks followed Wall Street lower Thursday after strong U.S. jobs data fueled expectations of further interest rate hikes and Chinese manufacturing activity weakened. Shanghai, Tokyo, Hong Kong and Sydney declined. Oil prices rose nearly $1 per barrel. U.S. government data Tuesday that showed there were two jobs for every unemployed person…
