The shutdown of a gas pipeline in eastern Ukraine has sent a fresh wave of energy jitters through Europe. The price of gas jumped — then fell. The cutoff is in sharp focus because it’s the first time that the war has disrupted the Russian natural gas that flows through Ukraine to get to Europe,…
By Joseph White NORMAL, Ill. (Reuters) – Rivian Automotive Inc CEO R.J. Scaringe needs to sell a lot more electric vans and pickup trucks to boost a beaten down stock price and fund his ambitious long-term growth plans, but the startup is having trouble buying the parts to build them. Scaringe can’t get all the…
By Leika Kihara TOKYO (Reuters) -The Bank of Japan (BOJ) kept ultra-low interest rates on Friday but announced a plan to review its past monetary policy moves, laying the groundwork for new Governor Kazuo Ueda to gradually phase out his predecessor’s massive stimulus programme. While maintaining its commitment to “patiently” keep policy accommodative, the central…
By Heekyong Yang SEOUL (Reuters) -South Korea’s LG Display Co Ltd will start supplying high-end TV panels to Samsung Electronic Co Ltd from as early as this quarter, three sources said, in a deal that would help the loss-making flat-screen maker turn profitable. LG Display aims to supply 2 million units next year and boost…
LONDON (Reuters) – Goldman Sachs said on Thursday it was “cautious” on Turkish banks heading into the May 14 election, with lenders more vulnerable than the country’s other stocks to a potential post-vote rate hike following years of unorthodox monetary policy. Polls show President Tayyip Erdogan risks losing the landmark election largely due to a…
By Dhara Ranasinghe and Yoruk Bahceli LONDON (Reuters) – Debt-laden Italy finds itself in markets’ crosshairs again, as the prospect of a collapse in its national unity government coincides with the European Central Bank preparing to deliver its first interest rate rise in 11 years. Like other indebted euro zone countries, Italy has spent the…
By Katie Paul and Nivedita Balu (Reuters) -Meta Platforms Inc’s stricter cost controls this year and a new $40 billion share buyback sent shares soaring on Wednesday, as CEO Mark Zuckerberg called 2023 the “Year of Efficiency.” The parent of Instagram and Facebook, which has fallen on hard times amid a broad post-pandemic slump in…
By Guy Faulconbridge (Reuters) -U.S. CIA Director William Burns said on Saturday that the armed mutiny by mercenary leader Yevgeny Prigozhin was a challenge to the Russian state that had shown the corrosive effect of President Vladimir Putin’s war in Ukraine. Putin this week thanked the army and security forces for averting what he said…
By Yantoultra Ngui, Summer Zhen and Selena Li SINGAPORE/HONG KONG (Reuters) – Credit Suisse staff arriving to work in Hong Kong and Singapore on Monday morning fretted about retrenchments and retaining business after larger Swiss rival UBS agreed to swallow the 167-year-old bank in a state-backed rescue. Late on Sunday, Swiss authorities capped a tense…
By Rod Nickel WINNIPEG, Manitoba (Reuters) – Canadian biofuels producers are threatening to build their next projects in the United States to cash in on rich subsidies for clean fuel and stay competitive, a move that could cost Canada C$10 billion ($7.5 billion) of investment and undermine Prime Minister Justin Trudeau’s efforts to build a…
