By Saqib Iqbal Ahmed NEW YORK (Reuters) – Shares of a volatility-tracking exchange-traded note (ETN) soared to a near 10-month high on Tuesday, a day after British bank Barclays said it had suspended the sales and issuance of the shares due to capacity constraints. Shares of iPath Series B S&P 500 VIX Short-Term Futures ETN…
By Stephanie Kelly NEW YORK (Reuters) -Oil prices tumbled more than 6% to their lowest in almost three weeks on Tuesday as supply disruption fears eased and surging COVID-19 cases in China spurred demand concerns. Brent futures fell $6.66, or 6.2%, to $100.24 a barrel by 2:01 p.m. EDT (1801 GMT), while U.S. West Texas…
By Hernan Nessi BUENOS AIRES (Reuters) – Argentina, already battling annual inflation running at over 50%, is braced for prices heating up further due to spiking global commodities costs that are being exacerbated by the Russian invasion of Ukraine. The South American country, due to release closely watched inflation figures on Tuesday, is expected to…
By Foo Yun Chee BRUSSELS (Reuters) -EU antitrust regulators on Tuesday raided several automotive companies and associations in several countries on suspicion of breaching the bloc’s cartel rules. The European Commission also sent companies requests for information, it said without disclosing company names. “The inspections and requests for information concern possible collusion in relation to…
By Foo Yun Chee BRUSSELS (Reuters) -EU antitrust regulators on Tuesday raided several automotive companies and associations in several countries on suspicion of breaching the bloc’s cartel rules. The European Commission also sent companies requests for information, it said without disclosing company names. “The inspections and requests for information concern possible collusion in relation to…
By Supantha Mukherjee, Foo Yun Chee and Jane Lanhee Lee STOCKHOLM/BRUSSELS/SAN FRANCISCO (Reuters) – Intel has picked Germany as the site for a huge new chipmaking complex, giving the first details of a $88 billion investment drive across Europe, which is striving to cut its reliance on imports and ease a supply crunch for manufacturers….
By Victoria Waldersee and Miranda Murray BERLIN (Reuters) -A lack of wiring harnesses from Ukraine has overtaken a shortage of semiconductors as Volkswagen’s biggest supply chain headache as the Russia-Ukraine war clouds its prospects for this year, the world’s No.2 carmaker warned on Tuesday. Rising raw material costs will drive up prices for both electric…
By Bansari Mayur Kamdar (Reuters) – Canada’s benchmark index extended losses for a third straight session on Tuesday, as weakness in energy and metal prices due to rising COVID-19 cases in China weighed on commodity stocks. At 10:00 a.m. ET (1400 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 161.23 points, or 0.76%,…
(Reuters) – Russia plans to spend 1 trillion roubles ($9 billion) on so-called anti-crisis measures, Prime Minister Mikhail Mishustin said on Tuesday, as the government tries to at least partially offset the impact of fresh western sanctions. The plan includes more than 100 proposals and is to be updated, Mishustin said, to rebuild production and…
(Reuters) – France’s Michelin is suspending its industrial activity in Russia as well as exports to the country, the tyre maker said on Tuesday. Its Davydovo plant, which was opened in 2004 near Moscow, employs 750 people and produces up to 2 million tyres per year, mainly for passenger cars on the Russian market and…
