MOSCOW (Reuters) – Russia’s largest bourse, Moscow Exchange, said on Friday Russian companies with direct access to trading will need to pay a 12% commission if they want to buy foreign currency, while freeing importing companies from paying the levy. In a move to try to stabilise wildly fluctuating markets hit by Western sanctions, Russia…
By Victoria Waldersee BERLIN (Reuters) – German automaker Mercedes-Benz raised its earnings forecast on stronger orders, an improved supply chain and higher sales and said it would carry on combatting costs by hiking prices despite worries over inflation weighing on demand. “Will the price lever be as strong in the coming quarters? We will be…
By Akash Sriram (Reuters) – Tesla’s strategy to boost sales through price cuts is likely to have powered its strongest revenue growth in five quarters while dragging down margins to a three-year low in the April-June period. The Elon Musk-led electric-vehicle maker has since late last year launched a price war to stoke demand and…
BERLIN (AP) — German Chancellor Olaf Scholz said Wednesday he wants to join employers and labor unions in a “concerted action” to find ways of cushioning the effects of rising prices while preventing a spiral of inflation in Europe’s biggest economy. Germany, like other countries in Europe and beyond, already has seen inflation accelerate sharply…
(Reuters) – U.S. President Joe Biden is planning to sign an executive order to limit critical U.S. technology investments in China by mid-August, Bloomberg news reported on Friday, citing people familiar with the internal deliberations. The order would focus on semiconductors, artificial intelligence and quantum computing, Bloomberg reported, adding that it would not affect any…
By Raphael Satter (Reuters) – The cl0p ransomware gang is claiming a new set of victims from its hack of the MOVEit file transfer protocol, taking credit on Tuesday for having stolen data from the University of California, Los Angeles, Siemens Energy, Abbvie Inc and Schneider Electric, among others. The total number of recent victims…
NEW YORK (AP) — The federal government is investing in machines that suck giant amounts of carbon dioxide out of the air in the hopes of reducing damage from climate change. The Department of Energy said Thursday it will release $3.5 billion to groups developing direct air capture and other technologies that remove carbon dioxide,…
BERLIN (Reuters) – Tesla works at twice the industry pace in many processes but still needs to ramp up highly complex factories and find qualified workers to win the electric vehicle race, Volkswagen’s chief executive said on Wednesday. The U.S. carmaker, posing a challenge to German electric vehicle production with its new plant near Berlin,…
By Jonathan Stempel (Reuters) – A federal judge ruled that Dairy Queen cannot stop W.B. Mason Co from selling “Blizzard” bottled spring water, the same name the unit of Warren Buffett’s Berkshire Hathaway Inc uses for a popular ice cream product. In a 217-page decision made public on Friday, U.S. District Judge Susan Richard Nelson…
By Steven Scheer JERUSALEM (Reuters) – Moody’s Investors Service said on Tuesday that passage of a new law in Israel limiting some Supreme Court powers signalled that political tensions will continue and likely have negative consequences for Israel’s s economy and security situation. “We believe the wide-ranging nature of the government’s proposals could materially weaken…
