MELBOURNE (Reuters) – Oil prices rose more than $2 in early trade on Monday after Saudi Arabia raised prices sharply for its crude sales in July, an indicator of how tight supply is even after OPEC+ agreed to accelerate its output increases over the next two months. Brent crude futures were up $1.80, or 1.5%,…
(Reuters) – Billionaire investor Carl Icahn is dropping a proxy fight focused on the treatment of pregnant pigs at Kroger Co after losing a similar fight with McDonald’s Corp last month, Wall Street Journal reported on Sunday. “I congratulate the McDonald’s team on their victory in this proxy engagement and, after much contemplation, given the…
SYDNEY (Reuters) – Russian aluminium producer Rusal has launched legal action against Rio Tinto seeking to restore access to its 20% share of the alumina produced at a jointly-owned refiner in Queensland, Australian media reported on Sunday. Rusal alleged Rio had no right to take full control of Queensland Alumina Ltd (QAL) following Australia’s sanctions…
(Reuters) – Low-cost carrier EasyJet cancelled 80 flights on Sunday due to the ongoing challenging operating environment. The European airline, in its statement on Sunday, said it was working to help customers rebook flights and find hotels. Flight-tracking website FlightAware https://flightaware.com/live/cancelled showed EasyJet canceled 98, or 5%, of its flights. It also showed that 822,…
BERLIN (Reuters) – Russia’s sanctions against Gazprom Germania and its subsidiaries could cost German taxpayers and gas users an extra 5 billion euros ($5.4 billion) a year to pay for replacement gas, the Welt am Sonntag weekly reported, citing industry representatives. In May, Russia decided to stop supplying Gazprom Germania, which had been the German…
By Francesca Landini and Elvira Pollina TRENTO, Italy (Reuters) -Telecom Italia (TIM) will pursue a plan to split its landline network from its service operations to maximise asset value for all shareholders and cut its debt pile, the head of the company said on Sunday. Under pressure for years in its fiercely competitive domestic market,…
By Kanishka Singh WASHINGTON (Reuters) – U.S. Commerce Secretary Gina Raimondo said on Sunday that President Joe Biden has asked his team to look at the option of lifting some tariffs on China that were put into place by former President Donald Trump, to combat the current high inflation. “We are looking at it. In…
TRENTO, Italy (Reuters) – Alliances and partnerships remain important for the development of companies controlled by the Benettons, the chairman of the family’s holding company Edizione said on Sunday, answering a question about the relationship with Spanish tycoon Florentino Perez. “We have to continue this vocation we have always had of respecting local partners with…
By Francesca Landini and Elvira Pollina TRENTO, Italy (Reuters) -Telecom Italia’s (TIM) will pursue a plan to split its landline network from its service operations to maximise asset value for all its shareholders and cut debt, the head of Italy’s biggest telecoms company said on Sunday. Under pressure for years in its fiercely competitive domestic…
By Divya Rajagopal TORONTO (Reuters) – Waves of industry consolidation over the decades have resulted in fewer choices for customers from telecoms to banking, with Canadians paying the world’s most expensive mobile phone bills and forking out more for everyday banking, consumer advocates say. Now, the government says enough is enough. It wants to put…
