LONDON (Reuters) -Moody’s cut Russia’s credit rating to Ca on Sunday, the second-lowest rung of its ratings ladder, citing central bank capital controls that are likely to restrict payments on the country’s foreign debt and lead to default. Moody’s said its decision to cut Russia’s rating was “driven by severe concerns around Russia’s willingness and…
FRANKFURT (Reuters) – TUI, the world’s largest holiday company, is seeing a rise in holiday bookings towards pre-pandemic levels, the head of the group’s German business told a newspaper. “Our customers have some catching up to do,” Stefan Baumert told the Funke group of newspapers. “We are convinced that we can get close to the…
(Reuters) – Several Russian banks said on Sunday they would soon start issuing cards using the Chinese UnionPay card operator’s system coupled with Russia’s own Mir network, after Visa and MasterCard said they were suspending operations in Russia. Announcements regarding the switch to UnionPay came on Sunday from Sberbank, Russia’s biggest lender, as well as…
By Aditya Kalra and Abhirup Roy MUMBAI (Reuters) – At a large Future Retail supermarket in Mumbai last week, workers were unloading hundreds of bright blue grocery crates belonging to India’s biggest retailer Reliance. Prospective customers were turned back by security, disappointed at the closed state of the store that still carries the signage of…
(Reuters) – Twenty-four Amazon investors are calling on the tech giant to increase transparency in tax disclosures and adopt a new reporting standard, the Financial Times reported on Sunday. Investors are trying to get a shareholder resolution demanding a new tax reporting standard brought at the company’s annual meeting this year, FT said, citing a…
By Sabrina Valle HOUSTON (Reuters) -Brazil’s government has appointed former Petrobras executive Rodolfo Landim to chair the state-controlled oil producer’s board, the company said in a filing on Saturday night. Earlier in the day, Admiral Eduardo Bacellar Leal Ferreira told Reuters he planned to step down as chairman of Petroleo Brasileiro SA, as the Rio…
(Reuters) – U.S. payments firms Visa Inc and Mastercard Inc on Saturday said they were suspending operations in Russia over the invasion of Ukraine and that they would work with their clients and partners to cease all transactions in the country. Within days, all transactions initiated with Visa cards issued within Russia will no longer…
(Reuters) – Mastercard inc said on Saturday that cards issued by Russian banks will no longer be supported by Mastercard network and any Mastercard issued outside of country will not work at Russian merchants or ATMs. (Reporting by Akanksha Khushi in Bengaluru; Editing by David Gregorio)
By Shadia Nasralla, Benjamin Mallet and Michel Rose LONDON (Reuters) – France’s TotalEnergies cuts a lonely figure hanging onto its Russian investments during a mass exodus of western oil majors from the country after its invasion of Ukraine, even though no sanctions have forced such divestments. “For existing assets, the company says it will respect…
OTTAWA (Reuters) – Russia could allow passenger airliners to be maintained by third-party firms in a bid to help its domestic carriers hit by sanctions over the invasion of Ukraine, Tass news agency said on Saturday. Tass said the Russian transport ministry had drawn up a draft bill to help airlines until September 2022. It…
