By Bozorgmehr Sharafedin LONDON (Reuters) – Oil prices fell on Monday as widespread lockdowns in China and weak Chinese economic data fuelled fears of a global recession, though the market found some support as the European Union stepped closer to an import ban on Russian crude. Brent crude was down 72 cents, or 0.7%, at…
SHENZHEN, China (Reuters) – European businesses in China are awaiting the next wave of disruption from COVID-19 outbreaks and see little chance of improvement until the country increases vaccination rates, the European Chamber of Commerce in China said on Monday. Shanghai has set out plans to end its COVID lockdown that has lasted more than…
By Padraic Halpin and Conor Humphries DUBLIN (Reuters) -Ryanair said it was impossible to give detailed guidance beyond hoping to return to “reasonable profitability” this year amid uncertainties over COVID-19 and the Ukraine war, knocking its shares after posting a smaller annual loss. Europe’s largest airline by passenger numbers also became the latest Boeing customer…
(Reuters) – JetBlue Airways Corp on Monday commenced a hostile all-cash takeover bid for Spirit Airlines Inc, days after the discount carrier rejected an offer from the larger rival. JetBlue, which had earlier offered $33 per share, is locked in a takeover battle for Spirit with Frontier Group Holdings and has argued a deal will…
(Reuters) – McDonald’s Corp said on Monday it had initiated a process to sell its business in Russia after 30 years of operating its restaurants in the country, following Moscow’s invasion of Ukraine. In March, McDonald’s closed all its restaurants in Russia including its iconic Pushkin Square location. As part of the exit, the company…
By Trevor Hunnicutt WASHINGTON (Reuters) – The Biden administration is increasingly feeling it has little control over short-term inflation, officials say, and is looking for ways to offset the political risk from price hikes in the months leading up to November’s elections. Data last week showed inflation still at 40-year highs, but slightly off an…
LONDON (Reuters) – More than 50 economists warned on Monday that Britain’s post-Brexit plans to boost the competitiveness of its huge finance industry risked creating the kind of problems that led to the global financial crisis. The government, seeking to use its “Brexit freedoms”, announced this month that it would require regulators to help the…
FRANKFURT (Reuters) – The European Central Bank may kick off the development of its digital euro, an electronic version of banknotes and coins, by the end of next year, ECB board member Fabio Panetta said on Monday. “Finally, at the end of 2023 we could decide to start a realisation phase to develop and test…
LONDON (Reuters) – European stock indexes opened lower on Monday, after oil prices slid and riskier currencies took a hit during the Asian session as unexpectedly weak economic data from China highlighted fears about a slowdown in growth. China’s April retail sales plunged 11.1% on the year, almost twice the fall forecast, as full of…
(Reuters) -Billionaire Gautam Adani’s conglomerate plans to buy Switzerland-based Holcim AG’s cement businesses in India for $10.5 billion, becoming the country’s No. 2 cement manufacturer in its largest-ever acquisition. Under the deal, the biggest in India since 2018, Adani Group will pay $6.4 billion in cash to acquire Holcim’s 63.1% stake in Ambuja Cements Ltd…
