By Devjyot Ghoshal and Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka will need about $3 billion in external assistance within the next six months to help restore supplies of essential items, including fuel and medicines, to manage a severe economic crisis, its finance minister said on Saturday. The island nation of 22 million people has…
MELBOURNE (Reuters) – S&P on Saturday lowered Russia’s foreign currency ratings to “selective default” on increased risks that Moscow will not be able and willing to honor its commitments to foreign debtholders. Facing waves of sanctions over its invasion of Ukraine, Russia could face its first sovereign external default in over a century after it…
(Reuters) – The chairman of Vietnam’s Vingroup conglomerate said on Saturday that the company’s auto unit, VinFast, could seek financing from the U.S. government to support its expansion with a planned plant in North Carolina. “It is also one of our financing options, but we need to prove to them that we are qualified,” Vingroup…
NEW YORK (Reuters) -Amazon.com Inc on Friday called for an election re-run after workers at a New York City warehouse voted to create the company’s first U.S. union, saying that the U.S. labor board and worker-organizers suppressed turnout. The Amazon Labor Union (ALU) rejected the allegations made by the online retailer that is the second-largest…
(Reuters) – AT&T’s WarnerMedia unit and Discovery Inc said on Friday that the two firms have completed the merger. The resultant company, Warner Bros. Discovery, will start trading on Nasdaq on Monday. (Reporting by Eva Mathews and Yuvraj Malik in Bengaluru; Editing by Maju Samuel)
WASHINGTON (Reuters) -The United States on Friday broadened its export curbs against Russia and Belarus, restricting access to imports of items such as fertilizer and pipe valves as it seeks to ratchet up pressure on Moscow and Minsk following the Russian invasion of Ukraine. President Joe Biden’s administration also restricted flights of American-made aircraft that…
(Reuters) – Lowe’s Cos Inc said on Friday Chief Financial Officer David Denton would step down in order to pursue another opportunity at a publicly traded company outside the industry. The company added that Brandon Sink, the senior vice president of retail finance, will succeed Denton, effective April 30. (Reporting by Ananya Mariam Rajesh in…
By Herbert Lash, Bansari Mayur Kamdar and Praveen Paramasivam NEW YORK (Reuters) -The Dow rose and the S&P 500 ended lower in choppy trade on Friday, as beaten-down bank shares gained and investors grappled with how best to deal with an economy that could skid as the Federal Reserve moves to aggressively tackle inflation. The…
By Arathy Somasekhar HOUSTON (Reuters) – Oil prices rose 2% on Friday but notched their second straight weekly decline after countries announced plans to release crude from their strategic stocks. Brent crude futures settled up $2.20, or 2.19%, at $102.78 a barrel. U.S. West Texas Intermediate (WTI) crude futures rose $2.23 to $98.26. For the…
(Reuters) – Russia will scrap a 12% commission on buying foreign currency through brokerages starting from April 11, Tinkoff bank and Alfa Bank said on Friday, after a sharp rally in the rouble raised concerns about its economic and financial impact. The rouble has rebounded on the Moscow Exchange from record lows it hit in…
