Financial News

BERLIN – German sportswear company Puma said on Wednesday that deliveries to Russia have been stopped but its 100 stores in the country are open. Russia and Ukraine accounted for …

By Jamie Freed and Tim Hepher -Russian aviation veered towards isolation on Wednesday as Boeing and Airbus halted the supply of components and analysts predicted carriers may strip parked planes …

By David Gaffen -U.S. crude and fuel stocks fell in the latest week, driving key storage hubs to multi-year lows as strong demand had refiners and other users paying dearer …

By Jonathan Stempel – Kellogg Co has won the dismissal of a proposed class-action lawsuit claiming its Strawberry Pop-Tarts do not contain enough strawberries. U.S. District Judge Marvin Aspen in …

MOSCOW – Annual consumer inflation in Russia accelerated to 9.05% as of Feb. 25 from 8.84% a week earlier, the economy ministry said on Wednesday, climbing further above an official …

By Karin Strohecker LONDON – With much of Moscow’s $640 billion reserves under lock and key in the West and sanctions crippling cross-border capital flows, investors fear Russia may be …

By Christina Amann and Nick Carey -Carmakers including Germany’s Volkswagen, BMW and Porsche are struggling to obtain crucial wire harnesses as suppliers in western Ukraine have been shuttered by the …

By Marc Jones LONDON – Sanctions imposed on Russia have significantly increased the chance of the country defaulting on its dollar- and other international market government debt, analysts at JPMorgan …

HOUSTON -Marathon Petroleum Corp plans to cut production for up to a month at its 593,000-barrel-per-day (bpd) Galveston Bay Refinery in Texas City, Texas, as repairs continue on residual hydrotreating …

By Deborah Mary Sophia -Clothes retailer Abercrombie & Fitch Co warned of weaker margins in 2022 after missing holiday-quarter sales and profit estimates due to product shortages and COVID-19 curbs, …

– Luxury retailer Canada Goose Holdings Inc said on Wednesday it would suspend all wholesale and e-commerce sales to Russia, becoming the latest company to respond to the country’s invasion …

By David Lawder CHICAGO -U.S. Treasury Secretary Janet Yellen travels to Chicago on Wednesday to amplify President Joe Biden’s State of the Union messages on punishing Russia for its invasion …

By Ananya Mariam Rajesh -Dollar Tree Inc on Wednesday missed Wall Street expectations for quarterly sales and flagged insipid annual sales, in another sign of rising inflation and declining stimulus …

– Airbus Helicopters announced on Wednesday it had reached an agreement with France and Spain for its Tiger MkIII programme, including the upgrade of 42 combat helicopters for France and …

MOSCOW – Russia’s central bank said on Wednesday that it would hold daily 3 trillion rouble ($28.31 billion) repo and deposit auctions to help lending institutions manage their liquidity and …

By Ann Saphir -Federal Reserve Bank of Chicago President Charles Evans on Wednesday said “extremely” high inflation poses “quite a risk” to economic growth, and the U.S. central bank needs …

– Ralph Lauren Corp said on Wednesday its Chief Commercial Officer Howard Smith would step down after an investigation found that he violated the company’s code of conduct. In a …

By Sabrina Valle HOUSTON -Exxon Mobil on Tuesday said it would exit Russia oil and gas operations that it has valued at more than $4 billion and halt new investment …

By Sabrina Valle and Shariq Khan -Exxon Mobil Corp on Wednesday said it will further slash expenses and its oil and gas production portfolio to boost returns, but offered no …

VILNIUS – The three Baltic states could ban Russian vessels from their ports if discussions on a European Union-wide decision drags on, Lithuanian Prime Minister Ingrida Simonyte told a news …

– The U.S. Department of Transportation and Federal Aviation Administration said orders blocking Russian aircraft and airlines from entering and using all U.S. airspace take effect at 9 p.m EST …

By Kate Holton LONDON -British Airways owner IAG is examining all options to cope with a volatile business environment, but does not need a rights issue for now because it …

By Maha El Dahan, Ahmad Ghaddar and Alex Lawler DUBAI/LONDON -OPEC+ oil producers agreed on Wednesday to stick to their plans for a modest output rise in April, ignoring the …

By Tommy Wilkes and Huw Jones LONDON – The European Union is excluding seven Russian banks from the SWIFT messaging system that underpins global payment transactions as the West ratchets …

(Removes extra word from headline) By Foo Yun Chee BRUSSELS – Russian state-controlled media outlets RT and Sputnik will be banned in the European Union with immediate effect for systematic …