By Hilary Russ and Uday Sampath Kumar NEW YORK (Reuters) -McDonald’s, PepsiCo, Coca-Cola and Starbucks stopped sales of their best-known products in Russia on Tuesday, offering a united rebuke of the war on Ukraine by companies that define America for much of the world. Pepsi and McDonald’s were corporate pioneers whose work with the Soviet…
By Trevor Hunnicutt, Steve Holland and Andrea Shalal WASHINGTON (Reuters) -U.S. President Joe Biden on Tuesday imposed an immediate ban on Russian oil and other energy imports in retaliation for the invasion of Ukraine, amid strong support from American voters and lawmakers, even though the move will drive up U.S. energy prices. “We’re banning all…
(Refiles to correct date to March 8) By Saqib Iqbal Ahmed and Ira Iosebashvili (Reuters) – Plummeting stocks, soaring commodity prices and tightening global financial conditions following Russia’s invasion of Ukraine are clouding the outlook for markets already unsettled by the prospect of a hawkish Federal Reserve. Dramatic moves are everywhere you look, from a…
(Reuters) – The California Air Resources Board said on Tuesday it plans to significantly increase electric vehicle requirements by 2030 as the state moves to phase out the sale of gasoline-powered light duty vehicles by 2035. In a draft document, the California regulator said previously it aimed to reach 61% zero emission electric vehicle (ZEV)…
By Valentina Za MILAN (Reuters) – Italy’s second-biggest bank UniCredit said a full write-off of its Russian business, including cross-border exposure, would cost around 7.4 billion euros ($8.1 billion), leaving its capital distribution plans hanging by a thread. UniCredit, which is one of Europe’s banks most exposed to Russia, said it would still be able…
(Reuters) -Coca-Cola Co and PepsiCo Inc said on Tuesday they are suspending sales of their sodas in Russia, becoming the latest high-profile Western consumer brands to curtail operations in the region following Moscow’s invasion of Ukraine. Coca-Cola said its business in Russia and Ukraine contributed about 1% to 2% of the company’s net operating revenue…
By Siddharth Cavale (Reuters) – Walmart Inc, the world’s largest retailer, will offer its Walmart Plus membership service free for part-time and full-time workers in the United States, it said on Tuesday, joining a growing list of retailer perks being offered in a tight labor market. Walmart, the largest private employer in the United States,…
By Danielle Kaye NEW YORK (Reuters) -Apple Inc on Tuesday added 5G connectivity to its low-cost iPhone SE and iPad Air and introduced a faster chip for a new desktop, a high point in Apple’s move to power its devices with microprocessors designed in house. The new Studio desktop starts at $3,999 with the new…
By David Shepardson WASHINGTON (Reuters) – A bipartisan group of more than 140 U.S. lawmakers on Tuesday urged leaders in Congress to approve $52 billion in government subsidies for semiconductor chips production and research. The U.S. House of Representatives on Feb. 4 narrowly passed a bill aimed at increasing American competitiveness with China in part…
By Devik Jain and Sabahatjahan Contractor (Reuters) – U.S. stock indexes edged lower in volatile trading on Tuesday as investors assessed the impact of a potential ban on Russian oil imports by the West over its invasion of Ukraine. U.S. President Joe Biden is expected to announce the ban in remarks at 10:45 a.m. (1545…
