By Devik Jain (Reuters) -The Dow and the S&P 500 were set to open higher on Tuesday, as bank shares gained on growing bets of aggressive interest rate increases by the Federal Reserve and sportswear maker Nike rose after upbeat quarterly results. Traders expects a 67.6% chance of a 50-basis point (bps) rate hike in…
BERLIN (AP) — Electric car manufacturer Tesla opened its first European factory Tuesday on the outskirts of Berlin in an effort to challenge German automakers on their home turf. The company says its new “Gigafactory” will employ 12,000 people and produce 500,000 vehicles a year once it’s fully up and running. Initial production will focus…
By Alex Lawler LONDON -Oil rose towards $116 a barrel on Tuesday, adding to a 7% surge the previous day, supported by supply risks from a potential European Union oil embargo on Russia and concern about attacks on Saudi oil facilities. European Union foreign ministers are split on whether to join the United States in…
(Reuters) -Canadian Pacific Railway Ltd and union Teamsters Canada Rail Conference have agreed to a binding arbitration over a labour dispute, allowing for operations to resume from Tuesday at the country’s second-largest railroad. The company halted operations and locked its workers out early on Sunday, sparking calls for a quick negotiated end to the work…
By Brenda Goh and Stella Qiu SHANGHAI (Reuters) – China Eastern Airlines faces deepening losses and closer regulatory scrutiny following the crash of a Boeing 737-800 jet on Monday with 132 people on board. Rescuers on Tuesday scoured heavily forested slopes for survivors and data recorders from flight MU5735, which crashed a day earlier in…
LONDON (AP) — A U.K. ferry operator owned by the government of Dubai faces a Tuesday deadline to explain why it fired 800 workers without notice, while British authorities say they may seek criminal penalties if the company is found to have acted illegally. P&O Ferries fired the crew members over a Zoom call last…
By Ross Kerber BOSTON (Reuters) – Investors, including several who run environmentally focused funds, welcomed the U.S. government’s proposed new rule on corporate disclosure of climate-related risks and emissions, saying it would standardize reports that now are voluntary and vary widely in quality and breadth. The investors said the U.S. Securities and Exchange Commission’s draft…
BERLIN (AP) — A strike on Tuesday by security staff at eight German airports — among them Frankfurt, a major intercontinental hub — led to widespread disruption and flight cancellations. The ver.di union called the all-day strike at Frankfurt, Germany’s busiest airport, as well as Berlin, Bremen, Hamburg, Hannover, Stuttgart, Duesseldorf and Cologne-Bonn, before a…
By Elizabeth Howcroft LONDON (Reuters) – European stock indexes opened slightly higher on Tuesday, while U.S. and European government bond yields rose to new multiyear highs as investors adjusted their expectations for rate hikes following hawkish comments from the U.S. Federal Reserve. Fed Chair Jerome Powell said that the central bank could move “more aggressively”…
PRAGUE (Reuters) – The war in Ukraine and supply bottlenecks will put a significant burden on Skoda Auto’s operating business in 2022, the Czech carmaker said on Tuesday, although it expects the supply of semiconductors to improve in the second half of the year. The carmaker, part of the Volkswagen Group and the Czech Republic’s…
