By Lewis Krauskopf, Devik Jain and Sabahatjahan Contractor (Reuters) – Wall Street’s main indexes fell sharply on Monday, with the Nasdaq Composite confirming it was in a bear market, as the prospect of a ban on oil imports from Russia sent crude prices soaring and fueled concerns about rising inflation. Nasdaq ended down 20.1% from…
By Steve Scherer and Aishwarya Nair (Reuters) -General Motors Co and South Korea’s POSCO Chemical will build a $400 million facility to produce battery materials in Canada as the carmaker ramps up plans to produce mainly electric vehicles (EVs) in the future, the companies said on Monday. The plant will produce cathode active material (CAM)…
By Elizabeth Dilts Marshall NEW YORK (Reuters) – Oil and other commodities prices soared while global shares tanked on Monday as the United States said it was willing to ban Russian oil imports, stoking investor fears over inflation and slowing economic growth. Brent, the international benchmark, briefly hit more than $139 a barrel, its highest…
By Akriti Sharma and Rocky Swift (Reuters) -Uniqlo owner Fast Retailing will keep its stores in Russia open, joining a small group of international firms that are staying put even as dozens of big brands temporarily shutter operations or exit the country over its invasion of Ukraine. Political pressure is building on companies to halt…
By Aishwarya Nair and Tim Hepher (Reuters) -Boeing Co said on Monday it had suspended buying titanium from Russia, while its European rival Airbus continues to use supplies from the nation that hosts the world’s largest supplier of the commodity, VSMPO-AVISMA. The U.S. planemaker said it had “substantial” inventory of the metal, prized in aerospace…
(Reuters) – Companies across Europe and North America have begun offering aid to Ukrainian authorities and people fleeing war following Russia’s invasion, as over a million leave their homes and head to safety in Poland and other neighbouring countries. The following are some companies which have offered support. More are expected to follow in the…
By Lindsay Dunsmuir (Reuters) -Russia’s invasion of Ukraine has dashed any hope U.S. consumers might have had for relief from sky-rocketing inflation, with gasoline prices in the last week surging by the most in nearly 17 years and costs of other goods like food ready to march higher as well. Even before the invasion, the…
By Nayara Figueiredo SAO PAULO (Reuters) – Soaring grain prices in the wake of Russia’s attack on Ukraine are hurting Brazilian meatpackers, but trade disruptions facing Ukrainian and Russian meat producers may be an opportunity to boost Brazil’s share in global trade, industry sources said. Russia and Ukraine together account for about 29% of global…
By Jonathan Stempel (Reuters) -Warren Buffett’s Berkshire Hathaway Inc revealed a more than $5 billion stake in Occidental Petroleum Corp, as oil prices soared to their highest level in about a decade. Berkshire said it owns 91.2 million Occidental shares, or nearly 10% of those outstanding, including 61.4 million bought from March 2 to March…
By David Shepardson WASHINGTON (Reuters) -United Airlines said on Monday it has indefinitely suspended two flights to India after halting flights that flew over Russia last week. The Chicago-based airline said last week it had stopped service between San Francisco and Delhi and between Newark, New Jersey, and Mumbai. The airline said it plans to…
