By Susan Heavey and Alex Lawler WASHINGTON/LONDON (Reuters) -The United States and its allies are weighing a coordinated release of oil reserves amid soaring prices and tightening supplies after Russia invaded Ukraine, an OPEC+ source and a senior industry source told Reuters. Oil prices have hit their highest since 2014 following the invasion and after…
BALTIMORE (Reuters) – The United States is watching Monday’s vote on a new union at Mexico’s Tridonex auto parts plant very closely, U.S. Trade Representative Katherine Tai told reporters, saying the United States had an “outsized interest” in the matter. “We’re watching that vote extremely closely,” Tai said after an event at Morgan State University…
By Herbert Lash and Dhara Ranasinghe NEW YORK/LONDON (Reuters) -The Russian ruble hit record lows on Monday while world stocks slid and oil prices jumped after the West ramped up sanctions against Moscow over its invasion of Ukraine, including blocking Russian banks from the SWIFT global payments system. Russia’s central bank hiked its key interest…
By Devik Jain and Noel Randewich (Reuters) – The S&P 500 ended lower in volatile trading on Monday, with investors wrestling with uncertainty and bank stocks dropping following powerful Western sanctions against Russia as it continued its invasion of Ukraine. Citigroup fell and weighed on the S&P 500 banks index as the U.S. 10-year Treasury…
(Corrects net profit figure) BOGOTA (Reuters) – Net profit at Grupo SURA, Colombia’s largest investment company, rose to 406.7 billion pesos ($103 million) from the 61.3 billion pesos net loss reported the year before, boosted by the recovery of its business and a lower impact from the COVID-19 pandemic, the company said in a statement…
WASHINGTON (Reuters) – White House economic adviser Cecilia Rouse said on Monday that the biggest U.S. economic risk from Russia’s invasion of Ukraine is from higher gasoline prices, and the depth of the impact will depend on the length of the conflict. Rouse, who chairs the Council of Economic Advisers, told a Politico online event…
(Reuters) -Jefferies Financial Group Inc will donate all of its global net trading revenue on March 2 to Ukranian humanitarian relief, Chief Executive Officer Richard Handler said in an Instagram story on Monday. The bank will donate net global trading commissions for all trading in equities, fixed income and foreign exchange by the firm’s clients…
By Tom Wilson LONDON (Reuters) – Trading volumes between the Russian rouble and the Tether cryptocurrency spiked sharply on Monday as the local currency tumbled to a record low on Western sanctions, data shared with Reuters showed. Rouble-denominated trades with the Tether – a so-called stablecoin – hit $29.4 million, their highest this year and…
By David Henry and Niket Nishant (Reuters) -Citigroup Inc’s total exposure to Russia amounts to nearly $10 billion, the bank said on Monday, higher than previously communicated, following questions over whether it will have to set aside funds to cover potential losses. Citigroup listed Russia as 21 among its top 25 country exposures with $5.4…
NEW YORK (Reuters) – Nasdaq Inc and Intercontinental Exchange Inc’s NYSE have temporarily halted the trading in stocks of Russia-based companies listed on their exchanges, their websites showed. The halts were due to regulatory concerns as the exchanges seek more information following economic sanctions against Russia following its invasion of Ukraine, said sources familiar with…
