NAIROBI (Reuters) – Facebook content moderators in Kenya are suing the social media site’s parent company Meta and two outsourcing companies for unlawful redundancy, a rights group said on Monday. The 43 applicants say they lost their jobs with Sama, a Kenya-based firm contracted to moderate Facebook content, for organising a union. They also say …
Content moderators sue Meta over alleged ‘union-busting’ in Kenya Read More »
By Noel Randewich, Medha Singh and Ankika Biswas (Reuters) – Shares of U.S. lender First Republic tumbled nearly 50% on Monday on fears it will need a second rescue to stay afloat, bucking a broader rally in bank shares driven by UBS Group’s state-backed takeover of Credit Suisse. Less than a week after large U.S. …
Credit Suisse rescue eases crisis fears, First Republic shares dive Read More »
By Stephanie Kelly NEW YORK (Reuters) -Oil prices rebounded and rose over 1% on Monday after diving to their lowest levels in 15 months as the market worried that risks in the global banking sector could spark a recession that would sap fuel demand. In volatile trade, Brent crude futures for May rose 82 cents, …
Oil prices rebound after hitting lowest since 2021 on banking fears Read More »
By Hannah Lang WASHINGTON (Reuters) – The dollar slid on Monday as investors reacted to UBS’ cut-price takeover of its beleaguered rival Credit Suisse CSGN.S. UBS UBSG.S agreed to buy Credit Suisse on Sunday for 3 billion Swiss francs ($3.23 billion) and assume up to $5.4 billion in losses, in a shotgun merger engineered by …
Safe-haven yen rises as investors assess Credit Suisse rescue Read More »
JOHANNESBURG (Reuters) -South African shares strengthened on Monday despite a global banking crisis as investors rushed into safe haven resource stocks, while the risk-sensitive rand weakened. At 1616 GMT, the rand traded at 18.5250 against the dollar, 0.65% weaker than its previous close as risk-appetite waned for emerging market currencies amidst the banking crisis. On …
South African shares shrug banking crisis, rand slips Read More »
MOSCOW (Reuters) -Russia laid out conditions on Monday for agreeing to any further extension of the Black Sea grain deal, and President Vladimir Putin said that Moscow could send free grain to African countries if those conditions were not met. The deal, allowing the safe export of grain from Ukrainian and Russian Black Sea ports, …
Russia sets grain deal conditions, Putin suggests free grain for Africa Read More »
MOSCOW (Reuters) – A senior executive at Russia’s Lukoil energy company said a project in the Congo in which it is involved will begin producing liquefied natural gas (LNG) in December, Russian news agencies reported. Lukoil Vice President Ivan Romanovsky said the initiative will produce around 600,000 tonnes of LNG per year, and that Lukoil …
Lukoil-backed Congo project to begin LNG output in December -media Read More »
By Vuyani Ndaba JOHANNESBURG (Reuters) – South Africa’s Reserve Bank will raise interest rates for the last time in this cycle by 25 basis points on March 30, in anticipation of slower inflation and a weak economy due to power disruptions, a Reuters poll found on Monday. A firm majority of 18 out of 20 …
S.Africa to call it a wrap on current hikes with last 25 bps on March 30- Reuters poll Read More »
By Stefania Spezzati and Oliver Hirt (Reuters) – Credit Suisse Group AG headed into a make-or-break weekend after some rivals grew cautious in their dealings with the struggling Swiss lender, and its regulators urged it to pursue a deal with UBS AG. Credit Suisse Chief Financial Officer Dixit Joshi and his teams will hold meetings …
Credit Suisse faces crucial weekend with its future in balance Read More »
By Laura Sanicola (Reuters) -Oil prices settled lower Friday, reversing early gains of more than $1 a barrel as banking sector fears caused both benchmarks to reach their biggest weekly declines in months. Brent crude futures settled down by $1.73, or 2.3%, to $72.97 a barrel. U.S. West Texas Intermediate crude fell $1.61, or 2.4%, …
Oil prices settle down, post big weekly losses on bank fears Read More »
