Russias Sberbank pays in roubles on dollar-denominated Eurobonds
(Reuters) – Russian lender Sberbank on Tuesday said it had made a coupon payment on dollar-denominated subordinated Eurobonds in roubles at the central bank exchange rate.
Snap Incs profit warning sends ripples through social media stocks
(Reuters) – Snap Incs shares slumped 30% before the bell on Tuesday after a profit warning from the social media company signaled tough times ahead for the once-booming industry, sparking a sector-wide selloff.
McKinseys Paris office searched by authorities – reports
PARIS (Reuters) – Authorities carried out a search on Tuesday at the Paris office of U.S. management consultancy McKinsey, reported Le Parisien paper and Agence France Presse (AFP).
Norway risks “pressed” electricity market in winter of 2023, Statnett says
OSLO (Reuters) – Norwegian electricity grid operator Statnett said on Tuesday the Nordic country risks a “pressed” security of supply in the southern half of the country under certain circumstances towards and through the winter of 2023.
Abercrombie cuts annual sales forecast as inflation hits apparel demand
(Reuters) – Abercrombie & Fitch Co trimmed its full-year sales forecast on Tuesday as record-high inflation hits demand for the retailers jeans, tops and dresses, sending its shares down 18% in premarket trade.
South Africas Ramaphosa: dialogue only way to solve Ukraine war
JOHANNESBURG (Reuters) – South Africa sees dialogue as the only way to solve the Ukraine conflict, President Cyril Ramaphosa said on Tuesday, reiterating his countrys position on the war after talks in Pretoria with German Chancellor Olaf Scholz.
Argentine bills strain wallets (literally) amid inflation drain
By Eliana Raszewski BUENOS AIRES (Reuters) – Argentine peso bills, devalued by years of inflation now soaring near 60%, are starting to cause a literal strain on wallets – with the largest banknote in circulation worth under $5 in commonly used exchange markets.
France reassures Ukraine it will be part of European Union
By John Irish PARIS (Reuters) – Ukraine will eventually be part of the European Union, Frances Europe minister said on Tuesday, reassuring Kyiv that an initiative to forge closer ties between the bloc and aspiring members would not replace their bids to join.
Factbox-Wall Street sees gray skies ahead for equities as Fed tightens policy
(Reuters) – With inflation in the United States running at levels not seen in four decades, market participants worry the Federal Reserve has fallen far behind the curve and will need to move aggressively to bring down the prices, which might end up tipping the economy
In a faceoff with Elon Musk, the SEC blinked
By Chris Prentice and Michelle Price WASHINGTON (Reuters) – U.S. securities regulators have pulled their punches in dealings with Elon Musk largely because an April 2019 court hearing on a statement he made about Tesla on Twitter didnt go their way, according to four sources with
Best Buy sees bigger drop in annual sales on inflation hit
(Reuters) -Electronics retailer Best Buy Co Inc lowered its full-year sales and profit forecasts on Tuesday, as red-hot inflation saps consumers spending power.
IT firm Softline expects turnover to decline in major market Russia
(Reuters) – London-listed IT firm Softline said on Tuesday turnover in its major market, Russia, would likely shrink from April to June due to ongoing uncertainty, but was confident of double-digit growth elsewhere.
U.S. climate envoy Kerry says Ukraine war no excuse to let up on climate fight
By Dmitry Zhdannikov DAVOS (Reuters) -The U.S. climate envoy John Kerry told the World Economic Forum (WEF) on Tuesday that the global energy crisis wrought by the war in Ukraine should not deepen the worlds dependence on fossil fuels causing climate change.
Uber seals taxi deal to expand its business in Italy
MILAN (Reuters) – Uber Technologies Inc has clinched a deal to integrate its ride-hailing app with Italy‘s largest taxi dispatcher as it seeks to boost its presence in the eurozone’s third-largest economy, the company said on Tuesday.
Dont trade security for economic profit, NATO tells countries
DAVOS, Switzerland (Reuters) – Western countries must not trade their security for economic profits, NATO Secretary-General Jens Stoltenberg warned on Tuesday, referring to the debate over the use of Chinese technology in 5G networks and the Nord Stream 2 construction.
Indian oil minister says oil at $110 a barrel not sustainable
DAVOS, Switzerland (Reuters) – Indias Oil Minister Hardeep Singh Puri told the World Economic Forum in Davos on Tuesday that a crude oil price of $110 a barrel was not sustainable, as the world faces an energy price crisis which is contributing to rising global inflation.
Futures fall after Snapchat owners profit warning
(Reuters) – U.S. stock index futures fell on Tuesday as a weak forecast from Snap Inc hit shares of social media companies, a day after Wall Street enjoyed a relief rally.
OECD chief ‘quietly optimistic’ about EU global minimum tax deal approval
By Dan Burns DAVOS, Switzerland (Reuters) – The head of the Organisation for Economic Cooperation and Development (OECD) on Tuesday said he was “quietly optimistic” a landmark deal to establish a global minimum tax will be approved by European Union members but implementation may not occur
Ukraines banking sector increases losses as war rages
KYIV (Reuters) – Ukraines banking system posted a net loss of 7.4 billion hryvnias ($253 million) in January-April, a rise from 0.16 billion hryvnias in January-March, as Russia pressed on with its military offensive, central bank data showed on Tuesday.
Italy parties discuss 2024 deadline to open up beach concessions – draft
ROME (Reuters) – Italy‘s parties are negotiating a deadline of end-2024 to complete tenders for lucrative contracts to manage bars and other facilities on the country’s beaches, a draft amendment seen by Reuters showed, amid tensions within the ruling coalition.