Financial News

SHANGHAI – China will soon approve the third batch of localities set to launch trials of its digital yuan currency, state-backed financial outlet Securities Times reported on Wednesday. According to …

By Heekyong Yang and Joyce Lee SEOUL -South Korea’s Hyundai Motor Co said on Wednesday it planned to invest about 95.5 trillion won ($79.21 billion) through 2030, including about 19.4 …

By Makiko Yamazaki and Junko Fujita TOKYO -Toshiba Corp said on Tuesday CEO Satoshi Tsunakawa has resigned – a sudden departure that comes after sources said revised restructuring plans sparked …

A look at the day ahead in markets from Dhara Ranasinghe. When the yield on Germany’s benchmark Bund, considered one of thea safest assets in the world, posts its biggest …

By Simon Jessop LONDON – The corporate world remains far from being aligned with global climate goals, and in some countries has gone backwards since a landmark agreement to cap …

– Russia’s oil and gas condensate output rose in February to 11.06 million barrels per day (bpd), according to Reuters calculations based on an Interfax report on Wednesday, while trading …

By Gaurav Dogra – Asian equities suffered a second successive month of outflows in February as investors jettisoned riskier assets due to rising tensions between Russia and Ukraine and on …

MOSCOW – Russia’s central bank kept stock market trading on the Moscow Exchange suspended for a third day in a row on Wednesday, but said it would allow a limited …

By Hyunjoo Jin SAN FRANCISCO -U.S. electric vehicle startup Rivian Automotive Inc said on Tuesday it has increased selling prices of its vehicles by about 20% due to inflationary pressures …

BEIJING – China’s Haidilao, which operates a chain of hotpot restaurants, said its billionaire founder Zhang Yong has stepped down as CEO and will shift his focus to long-term strategy …

By Tim Kelly TOKYO – A Japanese court will on Thursday deliver its verdict on former Nissan Motor director Greg Kelly who is accused of helping the automaker’s ousted chairman, …

By David Shepardson, Jamie Freed and Foo Yun Chee -The United States will follow the European Union and Canada in banning Russian flights from its airspace, President Joe Biden said …

By Jonathan Saul, Stine Jacobsen and Dawn Chmielewski -American big brands including Apple, Google, Ford and Harley-Davidson on Tuesday stopped sales and distanced themselves from Russia because of the invasion …

By David Shepardson WASHINGTON -The U.S. government on Tuesday announced a ban on Russian flights from American airspace following similar moves by the European Union and Canada after Russia’s invasion …

– Electric vehicle firm Faraday Future Intelligent Electric Inc said on Tuesday it appointed Becky Roof as interim chief financial officer. Roof, who serves as managing director with consulting firm …

By Alexander Schummer TORONTO -Canada ratcheted up pressure on Russia on Tuesday for its invasion of Ukraine by shutting ports to Russian-owned ships and saying that holdings of all Russian …

– Credit rating agency Scope cut Russia’s sovereign debt ratings to BB+ on Tuesday and placed them under review for further downgrade, citing “severe strengthening” of the sanctions imposed on …

By Chen Aizhu and Alex Lawler SINGAPORE/LONDON -China’s purchases of Iranian oil have risen to record levels in recent months, exceeding a 2017 peak when the trade was not subject …

– Exxon Mobil Corp said on Tuesday it is starting a process to discontinue operations and developing steps to exit the Sakhalin-1 venture in Russia. The company said it would …

By Paul Lienert, Ben Klayman and David Shepardson -Ford Motor Co on Wednesday will announce a reorganization under which its electric vehicle (EV) and internal-combustion engine (ICE) units will be …

By Devik Jain and Noel Randewich – Wall Street ended sharply lower on Tuesday, with financial stocks bearing much of the damage for a second straight day as the Russia-Ukraine …

By Shrutee Sarkar BENGALURU – Canada’s runaway house prices will keep growing at a robust pace this year, despite several rate rises expected from the central bank, according to a …

PARIS – The Council of the European Union voted on Tuesday on sanctions to exclude some Russian banks from the SWIFT system, according to the official Twitter account of the …

HOUSTON – A former refinery worker was installed on Tuesday as the director of the United Steelworkers union (USW) district that includes Texas, Louisiana, Arkansas and Oklahoma. Larry Burchfield, 52, …

By Francois Murphy and Daria Sito-Sucic VIENNA/SARAJEVO – The European arm of Sberbank, Russia’s biggest lender, has been closed by order of the European Central Bank, which had warned it …