By Devik Jain and Bansari Mayur Kamdar (Reuters) – Growth stocks led a rebound in Wall Street’s main indexes on Friday at the end of a week marred by worries about the worsening outlook for economic growth, while Twitter sank after Elon Musk put his deal for the social media company on hold. All the…
LONDON (Reuters) – A package of sanctions imposed on Russia, its top companies and its business and political elite over Moscow’s invasion of Ukraine look set to trigger a deep recession in Russia. Here is a summary of the economic consequences and Russia’s retaliatory measures: ECONOMY Almost 1,000 Western companies have either left or scaled…
MADRID (AP) — Spain and Portugal on Friday signed off on a temporary cap on natural gas prices, in a coordinated move described by Portugal’s environment minister as an “unprecedented” bid to temper soaring energy prices and inflation. As energy prices surge across Europe, exacerbated by Russia’s war in Ukraine, Spain and Portugal joined forces…
WASHINGTON (Reuters) – U.S. import prices were unexpectedly flat in April as a decline in the cost of petroleum offset gains in food and other products, a further sign that inflation has probably peaked, though it will remain elevated. The unchanged reading in import prices followed a 2.9% surge in March, the Labor Department said…
By Tim Hepher PARIS (Reuters) – Plans by Airbus to host its largest investor meeting in three years have been postponed after the keenly awaited presentation clashed with Queen Elizabeth’s jubilee, ruffling feathers among the aerospace giant’s British investors and staff. Airbus officials have written to participants acknowledging the date for the Capital Market Days…
By Devik Jain (Reuters) -U.S. stock index futures rebounded on Friday at the end of a bumpy week marked by rising concerns over tighter monetary policy and slowing economic growth, while Twitter sank after Elon Musk put his deal for the social media company on hold. Twitter Inc slumped 13.8% in premarket trading after the…
BERLIN (AP) — Natural gas prices rose Friday after Russian state-owned exporter Gazprom said it would no longer send supplies to Europe via a pipeline in Poland, citing new sanctions that Moscow imposed on European energy companies. The move doesn’t immediately block large amounts of natural gas to Europe but intensifies fears that the war…
A deluge of data from across major economies comes at a pivotal moment in the debate over whether central banks are jacking up interest rates into a potentially sharp global growth slowdown. And with jittery investors dumping risk assets en masse, what comes next after a crypto-currency rout is also in focus. Here’s your week…
By Alun John and Elizabeth Howcroft SINGAPORE/HONG KONG/LONDON (Reuters) – Cryptocurrencies nursed large losses on Friday, with bitcoin just above $30,000 and set for a record losing streak after the collapse of TerraUSD, a so-called stablecoin, rippled through cryptocurrency markets. Crypto assets have also been swept up in broad selling of risky investments on worries…
DETROIT (AP) — Tesla billionaire Elon Musk has put his plan to buy Twitter on what he called a temporary “hold,” raising fresh doubts about whether he’ll proceed with the $44 billion acquisition. Musk tweeted early Friday that he wanted to pinpoint the number of spam and fake accounts on the social media platform. He…
