By Francesco Canepa SINTRA, Portugal (Reuters) – The European Central Bank will likely drain cash from the banking system to offset any bond purchases made to cap borrowing costs for indebted euro zone states, two sources told Reuters. Bond yields for Italy and other debt-laden countries have surged since the ECB unveiled plans to stop …
ECB to drain cash in offset to new yield-capping scheme -sources Read More »
By Dietrich Knauth (Reuters) -The U.S. Supreme Court on Monday rejected another Bayer AG bid to dismiss litigation alleging that its Roundup weedkiller causes cancer as the German pharmaceutical and chemical giant tries to avoid potentially billions of dollars in damages. The justices turned away a Bayer appeal and left in place a lower court …
U.S. Supreme Court again nixes Bayer challenge to weedkiller suits Read More »
By Karin Strohecker, Andrea Shalal and Emily Chan LONDON/NEW YORK (Reuters) -Russia defaulted on its international bonds for the first time in more than a century, the White House and Moody’s credit agency said, as sweeping sanctions have effectively cut the country off from the global financial system, rendering its assets untouchable. The Kremlin, which …
Russia in historic default as Ukraine sanctions cut off payments Read More »
By Guy Faulconbridge LONDON (Reuters) – Russia may have defaulted for the first time on foreign bonds since the Bolsheviks refused to pay on a vast debt pile after the 1917 Revolution, but its $1.8 trillion economy is showing no sign of sinking just yet. The sanctions imposed by the West over Russia’s invasion of …
A ‘default’ when flush with cash: Five signs Russia ain’t sinking yet Read More »
PARIS (Reuters) – Aircall, the call centre software company valued at around $1 billion, said it had exceeded $100 million in annual recurring revenue, and planned to expand in Singapore and Madrid as it eyes an eventual stock market flotation. Aircall added that since its last funding round in June 2021, it had 70% year-on-year …
Call centre software company Aircall tops $100 million in annual recurring revenue Read More »
By Marc Jones LONDON (Reuters) – Russia’s first major international debt default in over a century, which Washington said became a fact on Monday, follows months of co-ordinated Western sanctions that left Moscow with cash but no access to the international financial network. Below is a summary of the key moments that have led up …
The ‘Big Package’: How Russia was driven to default Read More »
By John Irish SCHLOSS ELMAU, Germany (Reuters) -The international community should explore all options to alleviate a Russian squeeze of energy supplies that has spiked prices, including talks with producing nations like Iran and Venezuela, a French presidency official said on Monday. Venezuela has been under U.S. oil sanctions since 2019, and could reroute crude …
Powers need to study all oil options, including Iran, Venezuela -France Read More »
LONDON (Reuters) – The British public’s expectations for inflation in future years receded this month to the lowest level since January, a survey showed on Monday in good news for Bank of England officials who fear price pressures are becoming embedded. U.S. bank Citi and pollsters YouGov said the expectations for inflation in five to …
UK public inflation expectations fall to lowest since January -Citi/YouGov Read More »
SAO PAULO (Reuters) – (This June 22 story corrects headline and first paragraph to show that the payment is a settlement between the banks and Brazil’s watchdog, not a fine; adds Citibank statement that it has not been found or admitted to any wrong doing) Brazil’s antitrust watchdog said on Wednesday it reached an agreement …
MILAN (Reuters) – Carmaker Stellantis plans to start the conversion of its engine and gearboxes plant in Termoli, in Southern Italy, into the group’s third battery producing facility in Europe in 2024, Italian unions said on Monday. As part of its electrification plans, Stellantis will build three so called ‘gigafactories’ in Europe, in France, Germany …
Stellantis to start transformation of Termoli plant into gigafactory in 2024 -unions Read More »
