By Francesco Canepa and Tom Wilson FRANKFURT (Reuters) -Cryptocurrencies will pose a risk to financial stability if the emerging sector maintains its rapid growth of the last two years and financial firms deepen their involvement, the European Central Bank (ECB) said on Tuesday. The crypto market slumped sharply this month after the downfall of major…
(Reuters) -Electronics retailer Best Buy Co Inc lowered its full-year sales and profit forecasts on Tuesday, as red-hot inflation saps consumers’ spending power. However, Best Buy shares jumped 8% in premarket trading after the company beat estimates for first-quarter revenue. Its stock fell over 16% last week as retail behemoths Walmart Inc and Target Corp…
KYIV —The top military commander who fought until last week to keep Ukrainian control of the southern port city of Mariupol is alive in Russian-controlled territory, his wife said Tuesday after holding a brief telephone conversation. Kateryna Prokopenko, who is married to Azov Regiment leader Denys Prokopenko, said that her husband asked her how she…
By Shadia Nasralla and Ron Bousso LONDON (Reuters) -A couple of dozen climate protesters disrupted Shell’s annual general meeting (AGM) on Tuesday, chanting slogans and holding banners as Shell Chair Andrew Mckenzie tried to start the meeting. Shell is due to ask its shareholders to vote on a resolution supporting its climate strategy and rebuff…
By Byungwook Kim SEOUL (Reuters) – Samsung Group will invest 450 trillion won ($356 billion) in the next five years to accelerate growth in semiconductors, biopharmaceutical and other next-generation technologies, Samsung Electronics said. South Korea’s top conglomerate said on Tuesday the investments through 2026 are expected to help Samsung drive long-term growth in strategic areas…
By Tim Hepher PARIS (Reuters) -Air France-KLM on Tuesday launched a 2.26-billion-euro ($2.41 billion) share sale to shore up its balance sheet and repay some French state aid as it seeks shareholder backing to look beyond the pandemic and invest in resurgent air travel. The second rights issue in just over a year brings Europe’s…
LONDON (AP) — WHO Director-General Tedros Adhanom Ghebreyesus is expected to be confirmed by the U.N. health agency’s member countries for a second five-year term on Tuesday. No other candidate challenged Tedros for the post amid the ongoing difficulties of responding to the devastating coronavirus pandemic. Tedros, a former government minister from Ethiopia, has directed…
By Sheila Dang (Reuters) -Snap Inc said the economy had worsened faster than expected in the last month and the social media company slashed its quarterly forecast, triggering an after-hours sell-off. Since late April, “the macroeconomic environment has deteriorated further and faster than anticipated. As a result, we believe it is likely that we will…
(Reuters) – Russia’s biggest mobile operator MTS said on Tuesday it has started selling discounted and used smartphones, offering Russian consumers cheaper alternatives as inflation bites and Western brands suspend shipments. Apple paused all product sales in Russia in early March, one of many Western companies to distance itself from Moscow since it sent tens…
DAVOS, Switzerland (AP) — Billionaire investor turned philanthropist George Soros has blamed new technology for helping repressive regimes like Russia and China exert greater control. Speaking Tuesday at a dinner for journalists on the sidelines of the World Economic Forum’s annual gathering in Davos, Switzerland, Soros said China and Russia were the greatest threats to…
