TOKYO (Reuters) -A Tokyo court on Thursday convicted former Nissan Motor executive Greg Kelly of helping Carlos Ghosn hide pay from financial regulators, but said he had not been responsible for the total $80 million the ex-Nissan chief allegedly failed to disclose. “The court finds the existence of unpaid remuneration” and the failure to disclose…
By Wayne Cole SYDNEY (Reuters) – Asian shares crept higher on Thursday after reassuring comments from the Federal Reserve helped Wall Street rally, though the war in Ukraine sent oil and resource prices spiralling ever higher in a grim omen for global inflation. Western nations tightened sanctions on Russia as Ukraine’s second biggest city, Kharkiv,…
By Florence Tan and Sonali Paul SINGAPORE (Reuters) – Oil prices extended their rally on Thursday, with Brent rising above $116 a barrel, as trade disruption and shipping issues from Russian sanctions over the Ukraine crisis sparked supply worries while U.S. crude stocks fell to multi-year lows. The Organization of the Petroleum Exporting Countries and…
(Reuters) -Fitch on Wednesday downgraded Russia’s sovereign credit rating by six notches to “junk” status, saying Western sanctions over the invasion of Ukraine made it uncertain Russia could service its debt and would weaken its economy in “a huge shock” to its creditworthiness. Russia’s financial markets have been thrown into turmoil by its assault on…
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The battered shares of Van Eck’s Russia ETF have attracted a surge of trader interest and drawn comparisons to last year’s so-called meme stock frenzy, as investors seek ways to capitalize on market gyrations caused by the Ukraine crisis. Designed to track the performance of the MVIS Russia…
By Jonnelle Marte (Reuters) – The Federal Reserve’s nearly $9 trillion balance sheet has more room to decline than it did the last time the central bank shrank its holdings and policymakers will still watch money markets closely, a senior bank official said on Wednesday. The Fed’s standing repo facilities should also serve as a…
By Alasdair Pal NEW DELHI (Reuters) -At least five superyachts owned by Russian billionaires were anchored or cruising on Wednesday in Maldives, an Indian Ocean island nation that does not have an extradition treaty with the United States, ship tracking data showed. The vessels’ arrival in the archipelago off the coast of Sri Lanka follows…
By Paresh Dave, Elizabeth Culliford and Sheila Dang (Reuters) – Online payments company PayPal Holdings Inc stopped accepting new users in Russia on Wednesday given current circumstances, a company spokesperson told Reuters. PayPal, which only allows cross-border transactions by users in Russia, had already blocked some users and some of the country’s biggest banks following…
(Reuters) – Cruise operators Royal Caribbean Group and Viking Cruises canceled sailings to Russia on Wednesday, joining their rivals and many Western brands in suspending operations in the country after its invasion of Ukraine. Celebrity Cruises, owned by Royal Caribbean, said it was removing Russian port city St. Petersburg from upcoming itineraries, adding that it…
By Pamela Barbaglia LONDON (Reuters) – UniCredit has paused efforts to buy Banco BPM after losing more than a fifth of its value since Russia invaded Ukraine, two sources close to the matter told Reuters. Stock in UniCredit, Italy’s second-largest bank, has dropped by more than 20% since Feb. 24, when Ukraine came under attack,…
