BERLIN (Reuters) – Germany is preparing for a change of control at the PCK refinery in Schwedt operated by Russian state-owned Rosneft which accounts for all of Germany’s remaining Russian oil imports, Economy Minister Robert Habeck said on Wednesday. Germany has set out plans to become independent of Russian oil, which would make a European…
By Joice Alves LONDON (Reuters) – The euro fell below $1.06 for the first time in five years against a broadly strong U.S. dollar on Wednesday amid rising concerns around energy safety and growth slowdown in China and Europe. The euro slipped to a five-year low of $1.05890 after Russia’s Gazprom said it would cut…
(Reuters) – European shares slipped in choppy trade on Wednesday as markets took stock of mixed earnings updates, while energy tensions heightened after Russian energy giant Gazprom halted gas supplies to Bulgaria and Poland. The pan-European STOXX 600 inched 0.4% lower, set to extend its sell-off for a fourth straight day, and hovered near six-week…
BEIJING (AP) — Drone company DJI Technology Co has temporarily suspended business activities in Russia and Ukraine to prevent use of its drones in combat, in a rare case of a Chinese company pulling out of Russia because of the war. “DJI is internally reassessing compliance requirements in various jurisdictions. Pending the current review, DJI…
By Florence Tan (Reuters) -Oil prices extended gains on Wednesday amid simmering geopolitical tensions as Russia cut gas supplies to Bulgaria and Poland, while hopes of Chinese economic stimulus buoyed the demand outlook. Brent crude futures rose 67 cents, or 0.6%, to $105.66 a barrel by 0636 GMT. U.S. West Texas Intermediate crude futures gained…
NEW YORK (AP) — Payment processing giant Visa’s profits rose 21% in the first three months of the year fueled by a large jump in spending on the company’s namesake credit and debit card network. The San Francisco-based company reported Tuesday that it earned $3.65 billion, or $1.70 a share, in its fiscal second quarter…
Asian shares logged moderate gains on Thursday after Wall Street stabilized following a sell-off in tech stocks the day before. Tokyo’s Nikkei 225 rose 1% to 26,642.88 after the Bank of Japan wrapped up a policy meeting with no major changes, maintaining its near-zero interest rate stance despite a sharp weakening of the yen against…
PARIS (AP) — Soon after his victory was announced, French President Emmanuel Macron took the stage to the sound of the European Union’s anthem, the “Ode to Joy.” The symbolism was strong: The 44-year-old centrist’s election to a second term bolsters his standing as a senior player in Europe. Macron is now expected to push…
WARSAW, Poland (AP) — Polish and Bulgarian officials said Tuesday that Moscow is cutting off natural gas deliveries to their countries due to their refusal to pay in Russian rubles, a demand made by President Vladimir Putin after sanctions were levied against his nation over the invasion of Ukraine. Russian state-owned energy giant Gazprom informed…
By Tom Sims and Frank Siebelt FRANKFURT (Reuters) -Deutsche Bank posted a better-than-expected 17% climb in first-quarter profit as investment banking revenues rose, but it warned that the Russia-Ukraine conflict could hurt full-year results. Funds it sets aside for credit losses are expected to increase “significantly” this year due to the war and slower growth,…
