Financial News

By Gergely Szakacs BUDAPEST – The National Bank of Hungary (NBH) is ready to intervene “at any moment” with all tools at its disposal to ensure the stability of local …

By Uday Sampath Kumar and Aishwarya Venugopal -U.S. retailer Target Corp posted record holiday quarter earnings on Tuesday and forecast an upbeat 2022 as it expects supply chain pressures to …

MILAN – The Bank of Italy said on Tuesday it would remove a number of relief measures on banking requirements that had been introduced to help lenders through the COVID-19 …

By Pete Schroeder WASHINGTON -U.S. banks saw their profits jump nearly 90% in 2021 as firms shrank how much money they were setting aside to protect against credit losses, the …

By Jessica DiNapoli – Get ready for the $10 tube of toothpaste. Colgate-Palmolive Co CEO Noel Wallace said last week at an industry conference that the household goods maker sees …

– U.S. insurer American International Group said on Tuesday it would no longer provide underwriting services and investments for the construction of any new coal-fired power plants, thermal coal mines …

By Valentina Za MILAN -The latest wave of sanctions on Russia over its Ukraine invasion has thrown the global banking industry deeper into turmoil, as Western countries try to squeeze …

LVIV – Ukraine raised 8.1 billion hryvnias ($273 million) on Tuesday at its first bond auction to raise money for its fight against Russia, the finance ministry said in a …

– Tennis great Serena Williams raised $111 million for her new early stage venture capital firm Serena Ventures, according to the fund’s blog post on Tuesday. The company has invested …

By Elizabeth Dilts Marshall NEW YORK – U.S. banks’ exposures to Russia may not be fully understood by investors due to a lack of transparency in disclosures made so far, …

By Jonathan Saul, Stine Jacobsen and Jacob Gronholt-Pedersen LONDON/COPENHAGEN -The world’s three biggest container lines on Tuesday temporarily suspended cargo shipments to and from Russia in response to Western sanctions …

By Aziz El Yaakoubi and Shariq Khan -The Swiss-based company which built the Nord Stream 2 gas pipeline from Russia to Germany is considering filing for insolvency, two sources familiar …

MOSCOW -Russia will temporarily stop foreign investors from selling Russian assets to ensure they take a considered decision, not one driven by political pressure, the prime minister said on Tuesday, …

MOSCOW -Russia cracked down on social media companies on Tuesday, reinstating a slowdown of Twitter traffic on computers, as a foreign ministry official accused Meta, Google and other Western tech …

By Sruthi Shankar, Susan Mathew and Bansari Mayur Kamdar -European stocks tumbled on Tuesday, kicking off March on a dour note on weak earnings reports and jitters over the Ukraine …

LONDON – Credit rating agency Moody’s warned on Tuesday that Russia’s move to ban the servicing of newly-issued foreign-currency debt in the wake of stiff Western sanctions had added to …

By Jonathan Cable and Leika Kihara LONDON/TOKYO – Factories around the world sustained a brisk recovery in February amid signs the Omicron coronavirus variant was having less of an impact, …

WASHINGTON -The United States vowed on Tuesday to release 30 million barrels of oil as part of a global 60 million barrel pledge in an effort to shore up energy …

By Gilles Guillaume and Giulio Piovaccari AMSTERDAM -Stellantis aims to double revenue to 300 billion euros ($335 billion) a year by 2030 and keep profit margins high, as it steps …

By Simon Jessop and Ross Kerber LONDON/NEW YORK -MSCI Inc, which ranks companies and countries on their environmental, social and governance (ESG) performance, said on Tuesday it downgraded Russia and …

-Domino’s Pizza Inc said on Tuesday Chief Executive Officer Ritch Allison will retire at the end of April and be succeeded by operating head Russell Weiner, at a time the …

– U.S. cryptocurrency exchange Coinbase Global Inc will continue to block accounts and transactions of Russian clients targeted by sanctions, but it stopped short of banning all users from the …

WASHINGTON – U.S.-based United Parcel Service Inc said Tuesday it has halted overflights of Russia as the White House continues to debate whether to close U.S. airspace to Russia. A …

By Alex Lawler and Ahmad Ghaddar LONDON -Saudi Arabia on Tuesday reaffirmed its commitment to an OPEC+ agreement with Russia in the oil markets despite widening sanctions on Moscow and …

By Carolyn Cohn and Simon Jessop LONDON -Asset managers including France’s Amundi and BNP Paribas, Britain’s HSBC and Switzerland’s Pictet have frozen Russia-focused equity funds totalling over $3 billion in …