Russian economic growth slows to 3.5% y/y in Q1 – Rosstat
(Reuters) – The Russian economy expanded by 3.5% year-on-year in the first quarter of 2022 after growing 5% in the previous quarter, data from federal statistics service Rosstat showed on Wednesday.
Exclusive-EU set to clear Volkswagens Europcar deal without conditions – sources
BRUSSELS (Reuters) – EU antitrust regulators are expected to approve without conditions a Volkswagen-led consortiums 2.9 billion euro ($3 billion) bid for Europcar, people familiar with the matter said.
Russia allows 15 companies to remain listed abroad – finance ministry
(Reuters) – Russia has given 15 companies including metals giant Nornickel and liquefied natural gas producer Novatek approval to remain listed on foreign exchanges, the finance ministry said on Wednesday.
Reinsurer SCOR tightens oil sector cover over carbon emissions
By Simon Jessop and Tassilo Hummel LONDON (Reuters) – SCOR, the worlds fourth-biggest reinsurer, said on Wednesday it would stop covering new oil field production projects from 2023 unless the company involved had an acceptable plan to reach net-zero emissions by mid-century.
With troops in Ukraine, Russias defence spending leaps 40%
(Reuters) – Russia‘s defence spending was up nearly 40% in the first four months of the year, according to preliminary data released by the finance ministry on Wednesday, almost three months into Moscow’s large-scale military campaign in Ukraine.
Stellantis to start reshuffle of dealer network next year
VERONA, Italy (Reuters) – Stellantis will start a reshuffle of its European dealers network next year from Austria, Belgium and the Netherlands, and its van and premium brands in all markets, its regional sales chief said on Wednesday.
Column-Yellen could face G7 pressure on dollar: McGeever
By Jamie McGeever ORLANDO, Fla. (Reuters) – U.S. Treasury Secretary Janet Yellen has barely made any public comment on the dollars exchange rate since she assumed office in January last year, but she may have to find her voice soon.
Tesla removed from S&P 500 ESG index on autopilot, discrimination concerns
BOSTON (Reuters) – S&P Dow Jones Indices has removed electric carmaker Tesla Inc from its widely-followed S&P 500 ESG Index, citing issues including racial discrimination claims against the company and its handling of a government investigation after crashes linked to its autopilot vehicles.
Swiss National Bank not a hostage to other central banks – Jordan
BADEN, Switzerland (Reuters) – The Swiss National Bank is not hostage to other central banks and decides its own independent monetary policy, SNB Chairman Thomas Jordan said on Wednesday.
Russian mobile operator MTS reports 76.2% y/y slump in Q1 net profit
(Reuters) – Russias biggest mobile operator MTS on Wednesday reported a 76.2% year-on-year drop in first-quarter net profit to 3.9 billion roubles ($62.9 million), which it blamed in part on higher interest rates.
Wells Fargo sees end of year U.S. recession, cuts GDP view
(Reuters) – Wells Fargo Investment Institute said on Wednesday it adjusted its economic expectations to make a mild U.S. recession its base case for the end of 2022 and early 2023 based on economic data.
Rogue trader, euro zone crisis and war, Socgen‘s CEO ends ’bumpy ride at top
By John ODonnell and Julien Ponthus FRANKFURT/LONDON (Reuters) – Societe Generale CEO Frederic Oudea, who navigated the French bank through a rogue trading scandal and the euro zone crisis, will leave next year, ending a tumultuous 15 years at the top.
UK reveals rainbow 50p coin to mark 50th anniversary of Pride
LONDON (Reuters) – Britains Royal Mint unveiled a special new commemorative rainbow-coloured 50 pence coin on Wednesday as a tribute to celebrate the 50th anniversary of the Pride UK movement.
Schroders to oppose Amazon, Meta, Alphabet over worker, digital rights
By Simon Jessop LONDON (Reuters) – Schroders, Britain‘s biggest listed asset manager, said on Wednesday it would back a swathe of shareholder resolutions at Amazon, Meta and Google-owner Alphabet concerning workers’ and digital rights.
Care homes company Orpea: legal authorities contacted over possible wrongdoing
PARIS (Reuters) – French care homes company Orpea said on Wednesday that legal authorities had been contacted after evidence had emerged of possible wrongdoing involving the company, with shares in the company plunging by more than 10 percent.
U.S. building permits dive in April; housing starts fall
By Lucia Mutikani WASHINGTON (Reuters) – Permits for future U.S. homebuilding tumbled to a five-month low in April, suggesting the housing market was slowing as rising mortgage rates contribute to reduced affordability for entry-level and first-time buyers.
Four countries pledge tenfold rise in EU offshore wind power capacity
ESBJERG PORT, Denmark (Reuters) -Germany, Belgium, the Netherlands and Denmark on Wednesday pledged to build at least 150 gigawatts (GW) of offshore wind capacity in the North Sea by 2050 to create a “green power plant” for Europe.
U.S. unlikely to extend Russian debt payment licence, Treasurys Yellen says
BONN, Germany (Reuters) – The United States is unlikely to extend a soon-to-expire licence that allows Russia to pay U.S. bondholders, Treasury Secretary Janet Yellen said on Wednesday, which could put Moscow closer to defaulting on its debt.
Global supply stress worsened in April, NY Feds index shows
By Howard Schneider WASHINGTON (Reuters) – Stress on global supply chains worsened in April as coronavirus lockdown measures in China and the war in Ukraine lengthened delivery times, and air freight costs between the United States and Asia rose, the New York Federal Reserve reported in
Romania considers changing its tax system
BUCHAREST (Reuters) – Romania is considering changing its tax system, Prime Minister Nicolae Ciuca said on Wednesday in a surprise announcement, and his leftist coalition partners said they wanted to replace the current flat income tax rate with a progressive one.
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