The European Union nations have agreed to ban Russian coal in the first sanctions on the vital energy industry over the war in Ukraine, but it has underlined the 27 countries’ inability to agree so far on a much more sweeping embargo on oil and natural gas that would hit Russia harder but risk recession…
MADRID (Reuters) – The Bank of Spain told lenders on Thursday to adequately monitor credit risks of some of their customers most exposed to the economic impact from Russia’s invasion of Ukraine and urged banks not to release provisions given the current uncertainty. “In view of the new shock, we will have to closely monitor…
By David Lawder WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said on Thursday crypto asset regulations should support responsible innovation while managing risks, sticking to the contours of a recent White House executive order that was well-received by the crypto market. In a speech on digital assets policy released by the Treasury, Yellen said…
LONDON (Reuters) -Qatar Airways accused planemaker Airbus on Thursday of moving the goalposts in a safety and contractual dispute by raising the allowable limit for surface damage to the A350 jetliner. The two sides have been locked in a high-profile dispute over damage to the anti-lightning mesh within the painted skin of the A350 that…
By Katanga Johnson and Elizabeth Dilts Marshall WASHINGTON/NEW YORK (Reuters) – The U.S. consumer watchdog plans to ramp up enforcement actions against lenders that illegally charge credit card late-payment fees and may rewrite its rules that set thresholds for such fees, according to two people with direct knowledge of the matter. The development marks an…
HAIPHONG (Reuters) – Vietnamese automaker VinFast said on Thursday that a Singapore-based holding company that owns a stake in it had confidentially filed for an initial public offering (IPO) with U.S. securities regulators. VinFast, which is a unit of Vietnam’s biggest conglomerate Vingroup JSC, said it had not determined the size and price range for…
NICOSIA, Cyprus (AP) — A proposed pipeline to deliver natural gas from deposits in the east Mediterranean to European markets is too expensive, not economically viable and will take too long to help countries seeking alternatives to Russian gas any time soon, a senior U.S. diplomat said Thursday. U.S. Under Secretary of State Victoria Nuland…
LONDON (AP) — Shell says its decision to pull out of Russia in response to the country’s invasion of Ukraine has already cost the international energy giant as much as $5 billion. The reduced value of Russian assets, credit losses and “onerous” contract terms will cut earnings for the first three months of the year…
MILAN (Reuters) – Shares in Atlantia jumped almost 12% to their highest levels in over two years after Global Infrastructure Partners and Brookfield Infrastructure pitched a possible takeover of the Italian road and airport operator. The funds have an agreement with ACS under which the Spanish construction company could acquire a majority stake in Atlantia’s…
By Stephen Jewkes MILAN (Reuters) -Global Infrastructure Partners and Brookfield Infrastructure pitched a possible takeover of Italian road and airport operator Atlantia last week after talks with its main shareholder, the two funds said. Shares in Atlantia, which has a market capitalisation of over 16 billion euros ($17.5 billion), surged 10% on Thursday as the…
