Financial News

By Bozorgmehr Sharafedin and Rowena Edwards LONDON – European economies face the risk of a shortage of diesel, the preferred fuel for heavy industry, as sanctions on Russian energy threaten …

DUBLIN – Ireland’s central bank on Thursday fined Bank of New York Mellon Corp’s Irish fund administrating arm 10.8 million euros ($11.9 million) for 16 regulatory breaches compounded by the …

– Apple Inc said on Thursday it will buy its first industrial-size batch of carbon-free aluminum to use in its low-cost iPhone SE, as it steps up efforts to reduce …

MILAN – As Europe steps up its military spending after Russia’s invasion of Ukraine, Italian shipbuilder Fincantieri expects to expand its defence business, but sees M&A activity halted for now, …

– Russian authorities will decide how to use Renault’s plant in Moscow by the end of next week, the Ministry of Industry and Trade said on Thursday, after the carmaker …

By Tom Wilson LONDON – Decentralised finance – or DeFi – is throwing up new risks for investors as it evolves to mirror traditional markets, a global body for securities …

By Tassilo Hummel and Gilles Guillaume PARIS -Renault SA, the Western carmaker most exposed to the Russian market, said on Wednesday it would suspend operations at its plant in Moscow …

By Victoria Waldersee BERLIN -Daimler Truck expects high raw material prices to drive price increases this year but limited impact from events in Ukraine, the German truck and bus maker …

– Moderna Inc on Thursday raised its full-year forecast for sales of its COVID-19 vaccine to roughly $21 billion from $19 billion. The company in February forecast sales of $19 …

By Andrea Shalal WASHINGTON – The United States and Japan on Thursday announced an agreement that will allow American farmers and ranchers to meet Japan’s growing demand for U.S. beef …

SHANGHAI – Chinese electric vehicle (EV) maker BYD said on Thursday it has signed a strategic cooperation agreement with Shell that will see the two partner up on ventures in …

FRANKFURT – The European Central Bank will tighten banks’ access to its liquidity from July by phasing out exceptionally easy collateral rules introduced at the onset of the coronavirus pandemic, …

By Scott Murdoch SYDNEY – JD Logistics is looking to raise $1.1 billion from a $700 million share placement with its parent company JD.Com plus a $400 million primary capital …

ZURICH – The Swiss National Bank (SNB) has sold most of its Russia-related assets and sees only limited risk for the Swiss financial sector from the war in Ukraine, its …

By William James LONDON -Britain sanctioned another wave of Russia’s banks, critical industries and a host of members of its elite on Thursday, including Gazprombank, Alfa Bank, and a woman …

BRUSSELS – European Union countries are likely to agree to allow millions of Ukrainian refugees to exchange their currency, the hryvnia, into currencies used in the EU over the next …

(Refiles Wednesday story to fix typo in National Wealth Fund abbreviation) -Russia’s National Wealth Fund (NWF), which accumulates the country’s oil revenues, fell 11.5% month-on-month to $154.8 billion in February …

By Jonathan Cable LONDON – Euro zone business growth was stronger than expected this month, a survey showed on Thursday, although prices rose at a record pace, likely adding to …

By Samuel Shen and Selena Li SHANGHAI/HONG KONG – A plan by UBS and China Life Insurance Group to set up an asset management joint venture in China faces uncertainty …

TOKYO -Japan’s SMBC Nikko Securities said on Thursday that executives had been arrested and indicted for alleged market manipulation, following charges from the country’s financial watchdog. The brokerage unit of …

By Huw Jones LONDON – New York has extended its lead among the world’s top financial centres, with runner up London losing ground to increasingly competitive rivals in the United …

BEIJING – China will exempt the 3% Value Added Tax (VAT) levied on some small firms, the country’s main source of jobs, the finance ministry said on Thursday, to help …

By Mark Miller – If you need help filing for Social Security, Medicare or disability benefits, I have good news and bad news. The good news: The sprawling network of …

LONDON – Britain’s private sector has reported the steepest rise in prices charged by companies since at least 1999 and optimism is at its lowest ebb in almost a year …

By Jacob Gronholt-Pedersen COPENHAGEN -Mineral exploration company KoBold Metals, backed by billionaires including Jeff Bezos and Bill Gates, said on Thursday it would begin drilling in Greenland for critical materials …