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BUCHAREST (Reuters) – A new support scheme approved by the Romanian government to shield households and small businesses from soaring energy bills risks blocking the country’s gas and electricity markets, energy utilities said on Friday. The government extended a support scheme on Thursday until end-August 2023, capping natural gas and power bills for households, small …

Romanian utilities warn new energy support scheme risks jamming markets Read More »

(Reuters) – Shares in British homebuilders tumbled on Friday after analysts at HSBC warned that the United Kingdom is on the cusp of a housing downturn, as a steep climb in mortgage rates casts a cloud over demand. HSBC’s Building Materials team predicts a 20% slump in UK housing demand for a year from this …

UK homebuilder stocks slump as HSBC warns sector on cusp of downturn Read More »

By Anisha Sircar (Reuters) -European stocks rose nearly 1% on Friday at the end of a week that was battered by concerns over a spike in energy prices, red-hot inflation and higher bets of an interest rate hike by the European Central Bank next week. The pan-European STOXX 600 rose 0.8%, snapping five sessions of …

European shares nudge higher after rollercoaster week Read More »

PARIS (Reuters) – The United Nations food agency’s world price index fell for a fifth month in a row in August, further from all-time highs hit earlier this year, as a resumption of grain exports from Ukrainian ports contributed to improved supply prospects. The Food and Agriculture Organization (FAO) said on Friday that its price …

World food price index falls for fifth month in August Read More »

By Oliver Hirt ZURICH (Reuters) – Credit Suisse is considering cutting around 5,000 jobs, about one position in 10, as part of a cost reduction drive at Switzerland’s second-biggest bank, a source with direct knowledge of the matter told Reuters. The scale of the potential job cuts underlines the challenge facing Credit Suisse and new …

Credit Suisse looking at cutting around 5,000 jobs – source Read More »

(Reuters) – Meta Platforms Inc signed an agreement to have chip-maker Qualcomm Inc produce custom chipsets for its Quest virtual reality devices, the companies announced at a consumer electronics conference in Berlin on Friday. The companies’ engineering and product teams will work together to produce the chips, which will be powered by Qualcomm’s Snapdragon platforms, …

Meta, Qualcomm strike agreement on custom virtual reality chips Read More »

(This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine) MOSCOW (Reuters) – The rouble eased back from the 60 mark against the dollar and euro in Moscow trade on Friday, while Russia’s benchmark MOEX stock index hovered near a more than three-month high clipped early in the …

Russian rouble eases in early trade, stocks stay near recent highs Read More »

By Sabrina Valle HOUSTON (Reuters) -Exxon Mobil Corp and Shell PLC on Thursday confirmed the sale of their California oil joint-venture Aera to German asset manager IKAV for $4 billion, ending a 25-year-long partnership that was one of the largest oil producers in the state. The sale reflects the two companies move out of mature …

Exxon, Shell sell California oil assets for $4 billion to IKAV Read More »