(Reuters) -Chevron Corp said on Monday it would buy biodiesel maker Renewable Energy Group Inc in an all-cash deal valued at $3.15 billion as the oil major looks to boost its clean-energy business. Chevron will pay $61.5 for each share of Renewable Energy, representing a premium of over 40% to the company’s last closing price….
(Reuters) – Citigroup Inc said on Monday its total exposure to Russian assets was $5.4 billion at the end of December, compared with an earlier disclosure of $5.5 billion at the end of September. The bank’s total third party exposure in Russia was nearly $8.2 billion as of Dec. 31, it said in a regulatory…
By Tom Sims and Alexandra Schwarz-Goerlich FRANKFURT/VIENNA (Reuters) -The European arm of Sberbank , Russia’s biggest lender, faces failure, the European Central Bank (ECB) warned on Monday, after a run on its deposits sparked by the backlash from Russia’s invasion of Ukraine. Western allies have taken unprecedented steps to isolate Russia’s economy and financial system…
By Bozorgmehr Sharafedin LONDON (Reuters) -Oil prices jumped on Monday as Western allies imposed more sanctions on Russia and blocked some Russian banks from a global payments system, which could cause severe disruption to its oil exports. Brent crude rose $4.82, or 4.9%, to $102.75 by 1028 GMT after touching a high of $105.07 a…
MOSCOW (Reuters) – Moscow will retaliate against Western sanctions targeting Russia’s aviation industry over the invasion of Ukraine, Kremlin spokesperson Dmitry Peskov said on Monday. “The guiding principle will be reciprocity, and our own interests will be at the forefront of that,” he told reporters on a conference call.
By Jamie Freed and Alexander Cornwell (Reuters) -Lessors are set to terminate hundreds of aircraft leases with Russian airlines following Western sanctions over the invasion of Ukraine that require the contracts be cancelled. Asian lessor BOC Aviation said on Monday that most of its aircraft in Russia would be affected by European Union sanctions that…
By Carolyn Cohn and Saeed Azhar LONDON (Reuters) – British bank HSBC is beginning to wind down relations with a host of Russian banks including the second-largest, VTB, according to a memo seen by Reuters, as financial institutions start to implement restrictions on Russia. The United States, Britain, Europe and Canada announced new sanctions on…
By Tom Sims and Alexandra Schwarz-Goerlich FRANKFURT (Reuters) -The European Central Bank on Monday warned that Sberbank Europe, a subsidiary of Russia’s Sberbank, and two other subsidiaries under its watch “are failing or likely to fail”, in an indication of the fallout of the latest sanctions on Russia. The ECB said it was “owing to…
MOSCOW (Reuters) – Russia’s dominant lender Sberbank on Monday said it had opened an additional reserve line for its subsidiary banks in Belarus and Kazakhstan, as it grapples with sanctions and the fallout from Russia’s invasion of Ukraine. Sberbank said it would support its subsidiaries in Belarus and Kazakhstan. (Reporting by Reuters, Editing by Louise…
TOKYO (Reuters) -Panasonic Corp said on Monday it will begin mass production of a new lithium-ion battery for Tesla Inc before the end of March at a plant in Japan. Unveiled by the Japanese company in October, the 4680 format (46 millimetres wide and 80 millimetres tall) battery is around five times bigger than those…
