FRANKFURT (Reuters) – The European Central Bank would reconsider plans to end its bond-buying stimulus programme this summer if the euro zone economy fell into a “deep recession” because of the conflict in Ukraine, ECB board member Isabel Schnabel said on Thursday. “If we now fall into a deep recession due to the Ukraine crisis,…
By Caroline Valetkevitch NEW YORK (Reuters) – Major U.S. stock indexes rallied more than 1% on Thursday, extending the market’s recent rebound, as investors snapped up beaten-down shares of chipmakers and big growth names and as oil prices dropped. Nvidia Corp’s stock gained 9.8%, leading a rally across the chip sector and hitting its highest…
By Vera Eckert, Christoph Steitz and Nina Chestney FRANKFURT/LONDON (Reuters) – German utilities on Thursday said their country needed an early warning system to tackle gas shortages, a day after Russia ordered the switch of contract payments to roubles, raising the risk of a supply squeeze and even higher prices. President Vladimir Putin’s rouble payment…
By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks ended sharply higher on Thursday, extending the market’s recent rebound, as investors snapped up beaten-down chipmakers and big growth names and as oil prices dropped. The Philadelphia SE semiconductor index, which is down sharply for the year, jumped on the day, while Apple shares rose for…
BRUSSELS (Reuters) – Alphabet Chief Executive Officer Sundar Pichai will meet Europe’s antitrust chief on March 30 to discuss competition and digital issues, a European Commission official said on Thursday. Alphabet confirmed the meeting. Margrethe Vestager has handed out more than 8 billion euros ($8.8 billion) in fines to the world’s most popular internet search…
NEW YORK (AP) — Edward “Ned” Johnson III, a businessman who grew Fidelity Investments into the financial giant it is today, has died. He was 91. Johnson’s family confirmed Thursday that he died on Wednesday but did not give a cause of death. Born in Boston at the start of the Great Depression, Johnson joined…
By Tom Hals (Reuters) – Bayer AG reached an $80 million settlement with Ohio to resolve environmental damage allegedly caused by polychlorinated biphenyls, or PCBs, made by the company’s Monsanto business, the state attorney general said on Thursday. The funds from the German company, which did not admit liability, will be used for environmental cleanup,…
DALLAS (AP) — Southwest Airlines will add a fourth fare category as part of changes designed to attract more business travelers and boost revenue. The new fare level will be priced higher than Southwest’s cheapest tickets but below the airline’s top two fare categories. Southwest executives think this will fill the large price gap between…
By Arathy Somasekhar HOUSTON (Reuters) – U.S. refiners have begun snapping up fuel oil cargoes from the Middle East this month after U.S. President Joe Biden banned Russian oil imports over the country’s invasion of Ukraine, shipping data showed. The United States last year imported about 700,000 barrels per day (bpd) of different types of…
BRUSSELS (AP) — The European Union preserved a sense of rarely seen unity through four rounds of unprecedented sanctions against Russia over its invasion of Ukraine. But at a summit Thursday, the 27 leaders faced division on the biggest issue of all: energy. During the first month of war, EU nations imposed tough measures targeting…
