Bracing for Russian gas cuts, EU readies plan to cut demand
By Kate Abnett BRUSSELS – The European Union will set out emergency plans on Wednesday to reduce gas demand within months, warning countries that without deep cuts now they could…
By Kate Abnett BRUSSELS – The European Union will set out emergency plans on Wednesday to reduce gas demand within months, warning countries that without deep cuts now they could…
By Krisztina Than and Anita Komuves BUDAPEST -Hungary’s parliament on Tuesday approved the 2023 budget, which sets out to reduce the budget deficit next year to 3.5% of economic output…
(Reuters) – Victoria’s Secret & Co said on Tuesday it had cut about 160 management roles, or 5% of its home office staff, and hired a former Amazon executive as…
(Reuters) – Danske Bank on Sunday reduced its full-year net profit outlook, hurt by rapidly rising interest rates and unfavorable financial market conditions. Danske revised net profit to 10 billion…
MEXICO CITY – Moody’s Investors Service on Friday cut Mexico’s credit rating by one notch as it expects weak investment prospects and increased structural rigidities to constrain activity in Latin…
(Reuters) – Russia’s central bank will continue cutting rates to limit the depth of economic contraction this year as inflation will be lower than previously thought, a Reuters poll suggested…
SAO PAULO – A group of Brazilian states has filed a lawsuit with the Supreme Court to overturn a law recently approved by Congress that caps the rate of the…
PARIS – France’s government cut its growth outlook sharply on Tuesday but kept its budget deficit forecast steady despite billions of extra spending on anti-inflation measures thanks to stronger than…
(Reuters) – Japan’s Toyota Motor Corp has cut its stake in Uber Technologies Inc by about half after the ride-hailing giant divested the autonomous driving unit at the center of…
Europe Runs Back To Coal After Putin Cuts Off Natural Gas Micaela Burrow on June 21, 2022 European nations are firing up idled coal-powered plants to make up for lost…
(Reuters) – European food delivery companies will be forced to slash their forecasts in the second half of the year as record-high inflation and rising borrowing costs take a toll…
By Byron Kaye SYDNEY – Australia’s biggest building materials manufacturers are cutting back operations, hiking prices and considering moving production offshore to manage a spike in power and gas bills,…
Russia Cuts Gas Flows To Europe, Blames Sanctions Thomas Catenacci on June 16, 2022 Russian state-run energy giant Gazprom reduced natural gas exports headed for Europe by a significant margin…
By Marwa Rashad LONDON (Reuters – An at least three-week shutdown at Freeport LNG, operator of one of the largest U.S. export plants producing liquefied natural gas (LNG), is expected…
FRANKFURT – The European Central Bank raised its inflation projections once again on Thursday but cut its growth outlook as the conflict in Ukraine continues to weigh on confidence, consumption…
By David Lawder WASHINGTON – U.S. Treasury Secretary Janet Yellen said on Wednesday the Biden administration was looking to “reconfigure” tariffs on Chinese imports but warned that such cuts would…
By Gavin Jones ROME – Italy’s economy will grow by 2.8% this year, national statistics bureau ISTAT said on Tuesday, slashing a 4.7% projection made in December as high raw…
MANILA – The Philippines said on Tuesday it has extended until the end of 2022 an executive order that lowers the tariff rate for rice imported from outside Southeast Asia…
LONDON – Prime Minister Boris Johnson promised lawmakers a new economic plan for growth next week, a Conservative Party source said on Monday after the British leader addressed his party…
(Reuters) – U.S. employers in the technology sector cut nearly nine times more jobs in May than in the first four months of the year as rising inflation and slowing…
(Reuters) – Japanese auto companies are likely to post record profits this year as they raise vehicle prices and cut costs to mitigate the hit from soaring inflation, J.P. Morgan…
(Reuters) – Russian energy giant Gazprom said on Tuesday it has fully cut off gas supplies to Dutch gas trader GasTerra after it had failed to make payments for gas…
By Sam Nussey TOKYO – SoftBank Group Corp trimmed borrowing from its main bank Mizuho Financial Group Inc by 4.5% in the year ended March to 812 billion yen ($6.38…
NEW YORK – The Institute of International Finance slashed its 2022 growth outlook for global output in half, citing the economic effects of Russia’s invasion of Ukraine, China’s response to…
FRANKFURT – HeidelbergCement, the world’s No. 2 cement maker, said on Tuesday it aimed to cut carbon dioxide (CO2) emissions by almost 50% by 2030 compared with 1990, part of…