By Alex Lawler and Ahmad Ghaddar LONDON (Reuters) -Saudi Arabia on Tuesday reaffirmed its commitment to an OPEC+ agreement with Russia in the oil markets despite widening sanctions on Moscow and global outrage over its military assault on Ukraine. The Organization of the Petroleum Exporting Countries and its allies led by Russia – a…
By Huw Jones and Karin Strohecker LONDON (Reuters) -SWIFT said on Tuesday it was waiting to see which banks authorities want disconnected from its global financial messaging system as sanctions in response to Russia’s invasion of Ukraine are rolled out. The European Union, the United States, France, Germany, Italy, Canada and Britain agreed on Saturday…
By Howard Schneider (Reuters) – The U.S. Federal Reserve’s plan to end the loose money policies used to fight the pandemic is facing an unexpectedly early test as the Russian invasion of Ukraine poses new economic and financial risks already being felt in global markets. Fed Chair Jerome Powell testifies before Congress on Wednesday and…
By Yuka Obayashi, Kate Abnett and Noah Browning TOKYO (Reuters) – Members of the International Energy Agency (IEA) are holding an extraordinary ministerial meeting on Tuesday which could lead to a coordinated oil stocks release as Russia’s invasion of Ukraine sent oil prices soaring above $100 a barrel. Crude oil was trading around $103 a…
(Reuters) – Stellantis said on Tuesday that it aims to double its net revenues to 300 billion euros ($335 billion) by 2030, while maintaining double-digit adjusted operating margins as it manages the shift to zero-emission vehicles. The world’s No.4 carmaker, created early last year from the merger of PSA and Fiat Chrysler, said it will…
(Reuters) – U.S. chipmaker Nvidia Corp said on Tuesday a cyber attacker has leaked employee credentials and some company proprietary information online after their systems were breached. “We have no evidence of ransomware being deployed on the Nvidia environment or that this is related to the Russia-Ukraine conflict,” the company’s spokesperson said in a statement….
(Reuters) -Target Corp forecast 2022 sales and profit above analysts’ expectations on Tuesday, after posting a 9% rise in holiday quarter sales even as the big box retailer battled supply chain disruptions and record inflation. The company’s shares, which have fallen nearly 14% since the start of the year, rose 12% in premarket trading. For…
MOSCOW (Reuters) – Russia will temporarily impose curbs on foreign investors seeking to exit Russian assets to ensure they take a considered decision not one driven by political pressure, the prime minister said on Tuesday, as Moscow responds to Western sanctions. “In the current sanction situation foreign entrepreneurs are forced to be guided not by…
BEIJING (Reuters) – China and Russia have grown increasingly close in recent years, including as trading partners, a relationship that brings both opportunities and risks as Russia reels from tough new sanctions led by the West in response to its invasion of Ukraine. Total trade between China and Russia jumped 35.9% last year to a…
(Reuters) – Companies have taken action to limit, put on hold or exit business activities in Russia following a wave of sanctions imposed after Moscow’s invasion of Ukraine. Below is a list of companies that have announced plans to exit Russia or to curb activities there: AUTOMAKERS Daimler Truck said it would freeze its business…
