By Ron Bousso LONDON (Reuters) – Oil major Royal Dutch Shell will put profits from any Russian oil it purchases into a fund that will go towards humanitarian aid to Ukraine, the company said on Saturday. Shell had on Friday bought a cargo of Russian crude oil at a record low discount, the first such…
By Karen Freifeld (Reuters) – ZTE Corp., the Chinese telecom equipment maker, will go back to U.S. federal court March 14 to face a new accusation it may have violated its probation from its 2017 guilty plea for illegally shipping U.S. technology to Iran. The possible violation relates to an alleged conspiracy to commit visa…
By Ross Kerber (Reuters) – Top mutual fund manager Vanguard Group said on Friday it will adhere to international sanctions being imposed on Russia in the wake of Moscow’s invasion of Ukraine, but will not restrict the investment decisions of managers of its actively-managed funds. In a blog post on Friday addressing investments in Russia,…
MADRID (Reuters) -Spanish fashion retailer Inditex has halted trading in Russia, closing its 502 shops and stopping online sales, the company said in a statement on Saturday. The Zara owner is following some of the biggest western brands which have suspended operations in Russia, including its main rival H&M, following the invasion of Ukraine and…
MADRID (Reuters) – Spanish fashion retailer Inditex has halted trading in Russia, closing its 502 shops and stopping online sales, the company said in a statement on Saturday to the Spanish regulator. “In the current circumstances Inditex cannot guarantee the continuity of the operations and commercial conditions in the Russian Federation and temporarily suspends its…
By Paresh Dave (Reuters) – Payments company PayPal Holdings Inc shut down its services early on Saturday in Russia, citing “the current circumstances,” joining many financial and tech companies in suspending operations there after the invasion of Ukraine. “Under the current circumstances, we are suspending PayPal services in Russia,” President and Chief Executive Dan Schulman…
(Reuters) – SpaceX chief Elon Musk said on Saturday that its Starlink satellite broadband service has been told by some governments, not Ukraine, to block Russian news sources. “We will not do so unless at ‘gunpoint’, sorry to be a free speech absolutist”, he said in a tweet. Musk also said that SpaceX was reprioritized…
By Kevin Yao and Ryan Woo BEIJING (Reuters) -China on Saturday targeted slower economic growth of around 5.5% this year as headwinds including an uncertain global recovery and a downturn in the country’s vast property sector cast a pall on the world’s second-largest economy. As economic conditions soften, the central bank has started cutting interest…
By Eric M. Johnson and Tim Hepher SEATTLE/PARIS (Reuters) – Boeing Co has preliminary plans to boost production of its cash cow 737-family narrowbody to around 47 per month by the end of next year, as the U.S. planemaker looks to extend its recovery from successive crises, two people familiar with the matter said. After…
BEIJING (Reuters) – China will continue its crackdown on monopolies to ensure fair competition, Premier Li Keqiang said in a report released ahead of the start of the annual session of parliament on Saturday. Li also singled out the integrated circuits and artificial intelligence industries as priority areas for the government to build up domestic…
