BRUSSELS (AP) — The European Union set the stage for a stepped-up crackdown on big tech companies with an agreement on landmark digital rules to rein in online “gatekeepers” such as Google and Facebook parent Meta. EU officials agreed late Thursday on wording for the bloc’s Digital Markets Act, part of a long-awaited overhaul of…
SHANGHAI (Reuters) -China said on Friday it will maintain yuan flexibility and foreign exchange market stability, vowing to actively prevent and defuse risks from external shocks. The trend of foreigners investing in China, and allocating yuan assets will not change, China’s foreign exchange regulator said. Meanwhile, China expects a reasonable current account surplus this year,…
By Joshua Schneyer (Reuters) – Nearly a year after COVID vaccines became freely available in the U.S., one fourth of American adults remain unvaccinated, and a picture of the economic cost of vaccine hesitancy is emerging. It points to financial risk for individuals, companies and publicly funded programs. Vaccine hesitancy likely already accounts for tens…
MADRID (AP) — Spain’s government and the country’s main trucking federations reached an agreement Friday on financial help for an industry hurt by high gas prices, but self-employed truckers said they would continue a 12-day strike. Russia’s war in Ukraine has helped drive gas prices higher in Europe, making it more expensive for truckers to…
By Akanksha Khushi (Reuters) -Instacart Inc on Thursday slashed its valuation by nearly 40% to about $24 billion due to recent market turbulence, underscoring the difficulties U.S. grocery delivery firms are facing as competition heats up. In March last year, when the coronavirus pandemic was raging and doorstep delivery boomed, Instacart was valued at $39…
BERLIN (AP) — German business confidence has dropped sharply as company managers’ outlook for the coming months darkens following the Russian invasion of Ukraine, a survey showed Friday. The Ifo institute said its monthly confidence index, a closely watched indicator in Europe’s biggest economy, fell to 90.8 points in March from 98.5 in February. It…
(Reuters) -Russian stocks dropped on Friday in their second day of trading after a nearly month-long suspension, with losses led by airline Aeroflot, which has lost more than a quarter of its value over two days. The benchmark MOEX stock index was down 2.9% at 2,506.2 points by 0856 GMT, having hit a peak of…
BRUSSELS (Reuters) – The United States will work to supply 15 billion cubic metres (bcm) of liquefied natural gas (LNG) to European Union markets this year, as Europe seeks to wean itself off Russian gas supplies, according to a factsheet provided by the White House. U.S. President Joe Biden and European Commission President Ursula von…
By Saikat Chatterjee LONDON (Reuters) – World stocks are headed for a second consecutive week of gains for the first time in 2022 though sentiment was broadly cautious as markets evaluated the economic risks from the Federal Reserve’s policy tightening and Russia’s war in Ukraine. Technology shares in Hong Kong led losers and weighed on…
HARARE (Reuters) – Global mining giant Anglo American Plc on Friday announced the sale of its remaining shareholding in Thungela Resources, completing its exit from the South African coal business. Under pressure from investors to exit coal businesses worldwide, the owner of gold, platinum and diamond mining companies, Anglo American hived off its entire stake…
