By Uday Sampath Kumar and Hilary Russ (Reuters) – McDonald’s is poised to take a bigger financial hit from the war in Ukraine and shuttered locations in Russia than any other major global restaurant chain, with investors watching on Thursday when it reports first quarter earnings to see how much the company stands to lose….
BUDAPEST (Reuters) – Hungary’s OTP Bank, Central Europe’s largest independent lender, is under pressure from the government of Ukraine, where the bank is also present, to sell its Russian unit, Chief Executive Sandor Csanyi said on Wednesday. Earlier this month Csanyi said the bank would sell its Russian operation if there was a buyer, adding…
SAO PAULO (Reuters) – Heineken NV’s Brazilian arm is set to invest 1.8 billion reais ($360.73 million) in a new production facility in Minas Gerais state in southeast Brazil, the company said on Wednesday. The new brewery, located in the small city of Passos, is scheduled to start operations by 2025 and will employ 350…
By Jody Godoy (Reuters) -U.S. authorities on Wednesday charged Archegos Capital Management owner Bill Hwang with racketeering, fraud and market manipulation over the meltdown of his New York family office which left global banks nursing roughly $10 billion in losses. Archegos, which had $36 billion in assets, collapsed last year after defaulting on margin calls…
By Tom Hals (Reuters) -A U.S. judge slammed Elon Musk on Wednesday for trying escape a settlement with regulators requiring oversight of his Telsa Inc tweets, saying the billionaire was “bemoaning” the 2018 deal now that he felt Tesla was “invincible.” The ruling comes a day after the Twitter Inc board accepted Musk’s $44 billion…
By Anisha Sircar and Susan Mathew (Reuters) -European shares broke a three-day losing streak on Wednesday as basic materials stocks surged 4.5%, while Russian energy giant Gazprom halting gas supplies to Bulgaria and Poland and a plunge in German consumer morale kept gains in check. Exacerbating an energy crunch in Europe, Gazprom halted gas supplies…
By Chris Prentice and Tommy Wilkes WASHINGTON/LONDON (Reuters) – Major U.S. and European equity indexes rose in choppy trade on Wednesday, and the euro dropped to its weakest since 2017 after Russia halted gas supplies to Bulgaria and Poland and investors worried more about the region’s economy. Wall Street rose, rebounding the day after a…
By Eric M. Johnson and Abhijith Ganapavaram (Reuters) -Boeing Co said on Wednesday it was halting 777X production through 2023 due to a fresh delay in its entry into service after certification problems and weak demand, with $1.5 billion in added costs for the mini-jumbo program. Shares of the U.S. planemaker fell 11% to $146.62…
By Bernadette Christina and Fransiska Nangoy JAKARTA (Reuters) – Indonesia widened the scope of its export ban on raw materials for cooking oil to include crude and refined palm oil, its chief economic minister said on Wednesday, leaving markets in shock over the latest policy reversal. The announcement flipped the minister’s statement a day earlier,…
(Reuters) -Spotify Technology said currency moves and a big increase in hiring would push it to an operating loss in the second quarter, sending the streaming giant’s shares down 11% on Wednesday despite a forecast-beating rise in first quarter revenue. The company predicted it would make an operating loss of 197 million euros ($208 million)…
