By Iain Withers LONDON -Lloyds Banking Group CEO Charlie Nunn has begun a shake-up of the lender’s top team and internal structure as he looks to implement a strategy unveiled …
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By Medha Singh – Bitcoin loves flirting with the mainstream. But now, as the U.S. president says he wants to get serious, it may be getting cold crypto feet. When …
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By Bharat Gautam – Gold extended its slide on Tuesday as ceasefire talks between Russia and Ukraine reduced demand for safe-haven assets, while bets that the U.S. Federal Reserve may …
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Financial News
Record slump in German investor morale raises spectre of recession
by Reutersby ReutersBy Miranda Murray and Paul Carrel BERLIN -German investor sentiment suffered a record slide in March due to the war in Ukraine and economic sanctions on Russia, a survey showed …
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Financial News
Russian central bank sells all $26.7 billion at one-week repo auction
by Reutersby Reuters– Russia’s central bank provided banks with all 3 trillion roubles ($26.73 billion) at a one-week repo auction on Tuesday, facing demand of 4.84 trillion roubles, as lending institutions scramble …
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Japan calls for ‘stable’ FX moves as weak yen weighs on import-reliant economy
by Reutersby ReutersBy Tetsushi Kajimoto and Leika Kihara TOKYO -Japan will closely watch exchange-rate moves as market stability was “very important,” Finance Minister Shunichi Suzuki said on Tuesday in the wake of …
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Investors turn to crypto funds, companies as Russia-Ukraine crisis escalates
by Reutersby ReutersBy Gertrude Chavez-Dreyfuss NEW YORK – Global investors are scooping up stakes in cryptocurrency funds and companies, as they seek exposure to a sector many believe could withstand the fallout …
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By Christoph Steitz FRANKFURT – U.S. carmaker Ford on Monday unveiled plans for seven new electric models in Europe, a battery-assembly site in Germany and a nickel cell manufacturing joint …
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BRUSSELS – Euro zone industrial production was unchanged in January from December, data showed on Tuesday, indicating a sluggish start to 2022 even before any impact from Russia’s invasion of …
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By Howard Schneider WASHINGTON – New economic projections from the Federal Reserve this week will show how far and how fast policymakers see interest rates rising this year, in a …
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Financial News
Cigarette maker Imperial Brands in talks to transfer Russian business
by Reutersby ReutersBy Yadarisa Shabong -Imperial Brands has started talks to transfer its Russian business to a local third party, the tobacco company said on Tuesday, joining British rival BAT in exiting …
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DUBAI – The world’s largest cryptocurrency exchange Binance has been given a crypto-asset service provider licence by Bahrain’s central bank, its first such licence in the Gulf Cooperation Council (GCC), …
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Financial News
Bentley to roll out one electric car annually for five years from 2025
by Reutersby Reuters– Luxury carmaker Bentley unveiled plans on Tuesday to build a new electric model annually for five years from 2025 after its annual profit skyrocketed, as the British firm builds …
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BERLIN – Volkswagen is shifting production to China and the United states as a result of the war in Ukraine and will prioritise China this year, its Chief Executive Herbert …
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By Matt Scuffham and David Henry NEW YORK – Several of Wall Street’s biggest banks are planning on keeping a limited presence and holding on to banking licenses in Russia …
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LONDON – A section of the Russian Yamal-Europe pipeline resumed eastbound gas delivery to Poland from Germany on Tuesday following normal, westbound supplies earlier in the morning, data from German …
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JERUSALEM – Cash strapped Israeli airline El Al said on Tuesday it signed a non-binding deal for a $130 million loan from insurer Phoenix Group. Israel’s flag carrier will pay …
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By Brenda Goh and Josh Horwitz SHANGHAI -Manufacturers of everything from flash drives to glass for Apple iPhone screens are warning of shipment delays as they comply with Chinese controls …
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By David Milliken LONDON -Britain’s unemployment rate dropped below its pre-pandemic rate in the three months to January while pay rose faster than expected, according to official figures that are …
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Financial News
Investors dump stocks, flee to cash as growth outlook hits weakest since 2008 – BoFA
by Reutersby ReutersLONDON – Investors are more concerned about the outlook for global growth than at any time since the financial crisis in 2008, and they have ramped up their cash holdings …
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By Anna Ringstrom STOCKHOLM – H&M reported a 23% rise in first quarter sales on Tuesday, which was in line with market expectations, as the world’s second-biggest fashion retailer attempts …
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(Corrects company name to Zhongtan Nengtou Tech Co, not Zhongchuang Nengtou Co, in paragraph 5, and clarifies in paragraphs 5 and 6 that not all of the government charges applied …
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Financial News
After talks with India’s Future fail, Amazon goes on the attack in newspaper ads
by Reutersby ReutersBy Aditya Kalra and Abhirup Roy NEW DELHI – Amazon.com Inc said talks have failed to resolve a bitter dispute over Future Retail stores and accused both it and Reliance …
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-Toyota Motor Corp said on Tuesday it would make additional production cuts in March due to a shortage of semiconductor chips, days after the Japanese automaker reduced its domestic production …
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BERLIN – Volkswagen CEO Herbert Diess said the full impact of the war in Ukraine was not yet clear and is throwing the German carmaker’s 2022 outlook into question. “Under …