Financial News

LONDON – Soaring Brent crude oil prices are tracking the same path as in 2007-08, when they hit a record $150 a barrel before demand destruction kicked in and prices …

By Hari Kishan and Sarupya Ganguly BENGALURU – U.S. house prices are set to climb in double digits this year even as the Federal Reserve embarks on its expected series …

MOSCOW – Prime Minister Mikhail Mishustin on Wednesday said Russia would provide additional funds to develop its IT sector and may tweak tax arrangements for businesses and households as it …

By Susanna Twidale LONDON – European and British gas prices soared on Wednesday, with a benchmark Dutch gas price hitting a record high as countries said EU sanctions against Russia could …

– Shares of Nordstrom Inc soared more than 32% on a faster-than-expected recovery at the company’s off-price Rack outlets that raised hopes about the department store’s ability to stanch further …

– Swiss-based Russian gas pipeline operator Nord Stream 2 AG has not filed for insolvency, it said on Wednesday. “We do not confirm the media reports that Nord Stream 2 …

BEIJING – China will not join in sanctions on Russia that have been led by the West, the country’s banking regulator said on Wednesday, adding that he believed the impact …

By Nevzat Devranoglu ISTANBUL – Turkey’s trade deficit widened 186% year-on-year in the first two months of the year due to a surging energy bill, data showed on Wednesday, as …

BRUSSELS – European Union countries should move to a neutral fiscal stance next year from a supportive stance in 2022, with high debt countries focusing on tighter fiscal policy and …

MOSCOW – Russia’s top airline Aeroflot said on Wednesday that it was assessing the impact of Western sanctions on its leased planes and that it was asking European Union (EU) …

By Jane Lanhee Lee – CesiumAstro Inc, a startup that builds hardware and software for aerospace communications, said on Wednesday it has raised $60 million in funding from investors including …

By Alistair Smout and Muvija M LONDON -Russia’s invasion of Ukraine will not have a dramatic impact on bookings in eastern Europe so long as the war doesn’t escalate, Ryanair …

WASHINGTON – U.S. airplane manufacturer Boeing Co said on Tuesday it was suspending parts, maintenance and technical support for Russian airlines as well as major operations in Moscow after Russia’s …

LVIV – The Ukrainian central bank on Wednesday asked the International Monetary Fund and the Group of Seven major economies to limit the participation of Russian and Belarussian representatives in …

By Julie Gordon OTTAWA – The Bank of Canada is poised to hike its key overnight interest rate for the first time in three years on Wednesday, kicking off a …

By Joseph White DETROIT – U.S. auto dealers, flush with cash, are buying each other at a record pace, but they are not closing stores in the process. Defying predictions …

By Liz Hampton – Publicly traded U.S. shale firms are not budging on production restraint vows as oil markets surge amid Russia’s invasion of Ukraine, leaving smaller producers to lead …

MOSCOW – Russia’s central bank said on Wednesday it was temporarily suspending transfers by foreign legal entities and individuals from several countries to accounts abroad. The bank said it was …

MOSCOW -Russia’s largest lender Sberbank is quitting almost all European markets, blaming big cash outflows and threats to its staff and property following Russia’s invasion of Ukraine and Western sanctions. …

BERLIN – Volkswagen’s Porsche is suspending production at its Leipzig plant until the end of next week as a result of the Ukraine crisis, a spokesperson for the luxury carmaker …

MOSCOW – Russia’s Central Bank Governor Elvira Nabiullina said Russia’s economy had come up against an extreme situation, something she said they had all hoped would not happen, in an …

LONDON – Russia’s invasion of Ukraine will not have a dramatic impact on airline bookings in eastern Europe so long as the war does not escalate and spread, Ryanair boss …

By Michelle Price and Sumeet Chatterjee WASHINGTON/HONG KONG – Faced with an unprecedented level of sanctions on Russia, global banks are taking a dim view of business with all Russian …

PARIS – Airbus said on Wednesday it had stopped sending spare parts to Russia and supporting Russian airlines, but was analysing whether its Moscow engineering centre could keep providing services …

HELSINKI – Finnish refiner Neste said on Tuesday its billion-dollar investment in a joint venture with U.S.-based oil company Marathon Petroleum Corp would make it the world’s first and only …