By Anisha Sircar and Susan Mathew (Reuters) -European shares broke a three-day losing streak on Wednesday as basic materials stocks surged 4.5%, while Russian energy giant Gazprom halting gas supplies to Bulgaria and Poland and a plunge in German consumer morale kept gains in check. Exacerbating an energy crunch in Europe, Gazprom halted gas supplies…
By Chris Prentice and Tommy Wilkes WASHINGTON/LONDON (Reuters) – Major U.S. and European equity indexes rose in choppy trade on Wednesday, and the euro dropped to its weakest since 2017 after Russia halted gas supplies to Bulgaria and Poland and investors worried more about the region’s economy. Wall Street rose, rebounding the day after a…
By Eric M. Johnson and Abhijith Ganapavaram (Reuters) -Boeing Co said on Wednesday it was halting 777X production through 2023 due to a fresh delay in its entry into service after certification problems and weak demand, with $1.5 billion in added costs for the mini-jumbo program. Shares of the U.S. planemaker fell 11% to $146.62…
WASHINGTON (AP) — The United States has put China, Russia and five other countries on its annual blacklist for lax enforcement of intellectual property rights that leaves American companies vulnerable to copyright and trademark piracy. All seven countries on this year’s list were on last year’s, too. “China continues to be the largest origin economy…
By Bernadette Christina and Fransiska Nangoy JAKARTA (Reuters) – Indonesia widened the scope of its export ban on raw materials for cooking oil to include crude and refined palm oil, its chief economic minister said on Wednesday, leaving markets in shock over the latest policy reversal. The announcement flipped the minister’s statement a day earlier,…
BUDAPEST, Hungary (AP) — Hungary’s government has extended a price cap on fuel and some basic food items by two more months as consumer prices continue to rise in the Central European country, the prime minister said Wednesday. Prime Minister Viktor Orban said in a Facebook video that the cap on gasoline and diesel prices,…
(Reuters) -Spotify Technology said currency moves and a big increase in hiring would push it to an operating loss in the second quarter, sending the streaming giant’s shares down 11% on Wednesday despite a forecast-beating rise in first quarter revenue. The company predicted it would make an operating loss of 197 million euros ($208 million)…
By Yuvraj Malik and Eva Mathews (Reuters) – Facebook-owner Meta Platforms Inc is expected to report its slowest quarterly ad revenue growth in a decade on Thursday, as businesses pull back on ad spending against the backdrop of soaring inflation worldwide and the war in Ukraine. Global advertising and marketing budgets will be strained further…
(Adds dropped word ‘permanently’ in final paragraph) By Federica Urso (Reuters) – Companies in North America and Europe plan to give more employees an equity stake in their businesses to help retain talent amid a pandemic-induced “Great Resignation”, a survey showed on Wednesday. Global Equity Organization (GEO), a not-for-profit body tracking global share plans and…
Russia’s Gazprom says it is halting natural gas supplies to Poland and Bulgaria, escalating tensions between the Kremlin and Europe over energy and Russia’s invasion of Ukraine — and adding new urgency to plans to reduce and then end the continent’s dependence on Russia as a supplier of oil and gas. Here are key things…
