SANTIAGO (Reuters) – A union representing workers at BHP’s sprawling Escondida copper mine in Chile, the world’s largest copper mine, on Thursday threatened a work stoppage over what it claims are breaches in its collective contract. Escondida’s Union 1 requested an urgent meeting with company executives to discuss its complaints over promotions, saying many conditions…
By Patricia Zengerle WASHINGTON (Reuters) – The U.S. House of Representatives overwhelmingly backed legislation on Thursday to remove “most favored nation” trade status for Russia and Belarus over the invasion of Ukraine, paving the way for higher tariffs on imports from the countries. The Democratic-controlled House voted 424-8 in favor of removing Permanent Normal Trade…
By Eric Onstad LONDON (Reuters) – Despite the turbulent, stop-start trading of nickel on the London Metal Exchange, frustrated investors who may want to shift their business elsewhere have found there are no quick and easy alternatives. The 145-year-old institution suspended activity and cancelled trades last week due to volatility that saw prices double to…
By Hilary Russ NEW YORK (Reuters) – Burger King’s parent company said on Thursday it has not been able to close its 800 restaurants in Russia because its independent operator there “refused” to do so. Restaurant Brands International Inc said that to enforce its contracts with the franchisee, Alexander Kolobov, it would need the help…
By Karin Strohecker, Sujata Rao and Marc Jones LONDON (Reuters) -Some creditors have received payment, in dollars, of Russian bond coupons which fell due this week, two market sources said on Thursday, meaning Russia may for now have averted what would have been its first external bond default in a century. The Russian finance ministry…
By Tina Bellon AUSTIN, Texas (Reuters) – Electric carmaker Lucid is looking into raising prices for future models amid “huge inflationary pressures,” but is committed to honoring prices for existing reservation holders, its chief executive on Thursday. “There’s an inevitability that we will have to look at the price points of models that are coming…
By Sruthi Shankar and Shreyashi Sanyal (Reuters) -European stocks gained in choppy trading on Thursday, a day after the Federal Reserve’s widely anticipated U.S. interest rate hike, as investors eyed Russia-Ukraine peace talks. The pan-European STOXX 600 index rose 0.5%, paring March losses spurred by the Ukraine conflict. Investors took in stride the long-expected start…
By Arathy Somasekhar HOUSTON -Oil prices climbed about 7% on Thursday, continuing a series of wild daily swings, as the market rebounded from several days of losses on renewed focus on supply shortages in coming weeks due to sanctions on Russia. Oil benchmarks in recent weeks have experienced their most volatile period since mid-2020. After…
(Reuters) – Russia’s second-largest state lender VTB, which has been targeted by Western sanctions, said on Thursday it would hand over servicing of foreign securities to other Russian financial companies, the TASS state news agency reported. “This step would allow us to protect assets of private investors and secure their ability to buy and sell…
By Karin Strohecker and Sujata Rao LONDON (Reuters) -Russia said on Thursday it had made debt payments that were due this week but the announcement did not end a wait for what could be Moscow’s first default on external borrowing in more than a century as several creditors said funds had yet to be received….
