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…
(Reuters) – Uber Technologies Inc raised its first-quarter profitability guidance on Monday, saying its mobility business was improving faster than expected, while customers continued ordering food deliveries at record numbers in February. Uber said in a filing it now expected adjusted earnings before interest, taxes, depreciation and amortization of $130 million to $150 million in…
By Hyunjoo Jin SAN FRANCISCO (Reuters) – Surging raw materials costs, made worse by Russia’s invasion of Ukraine, could set back the dream of Tesla Chief Executive Elon Musk and other auto executives to roll out more affordable electric vehicles. Rising prices of nickel, lithium and other materials threaten to slow and even temporarily reverse…
By Sruthi Shankar (Reuters) – European stocks hit a one-year low on Monday, with German and French shares set to confirm a bear market as the United States and Western allies weigh a ban on importing Russian oil, raising fears of a spike in inflation dragging economic growth. The pan-European STOXX 600 index tumbled 3.0%…
ZURICH (Reuters) – UBS’s direct exposure to Russia made up $634 million of the Swiss bank’s total emerging market exposure of $20.9 billion at the end of 2021, the bank said in its annual report. Switzerland’s biggest bank said while its direct exposure was limited and had been reduced since year-end 2021 this could be…
LONDON (Reuters) – Russia’s rouble tumbled to a fresh record low in thin offshore trade with local markets closed for trading until at least Wednesday. The rouble weakened to 130.9338 to the dollar after closing at 121.037 on Friday, according to Refinitiv data. On the EBS trading platform, the rouble softened to as low as…
TOKYO (Reuters) – Japan, which counts Russia as its fifth-biggest supplier of crude oil, is in discussion with the United States and European countries about possibly banning Russian oil imports, Kyodo News reported on Monday. The report comes after U.S. Secretary of State Antony Blinken said on Sunday the United States and European allies were…
By Alun John and Anshuman Daga HONG KONG/SINGAPORE (Reuters) – Southeast Asian stocks are becoming a haven for international investors fleeing a worsening outlook for global equities who are hoping for sustained strength in the commodity-heavy economies of the region. Driving the renewed interest is a surge in commodity prices that spells good news, particularly…
By Florence Tan and Scott DiSavino SINGAPORE (Reuters) -Oil prices soared more than 9% on Monday, touching their highest since 2008, as the United States and European allies mull a Russian oil import ban and delays in the potential return of Iranian crude to global markets fuelled tight supply fears. Brent crude futures jumped $12.61,…
BEIJING (Reuters) -China’s export growth slowed in the January-February period due to the week-long Lunar New Year holiday and though the data beat expectations, Russia’s invasion of Ukraine has heightened uncertainty over the outlook for global trade this year. Outbound shipments rose 16.3% in the first two months of the year from the same period…
