By Marcelo Teixeira NEW YORK/LONDON (Reuters) -Coffee traders are seeking advance payment in any new deal to sell beans to Russia as Western sanctions hit the financial system of the world’s sixth largest importer. Traders in Brazil, the world’s largest exporter and No. 1 supplier to Russia, said they have added the country to a …
Coffee traders seeking advance payment in new deals with Russia Read More »
NEW YORK (Reuters) – The rouble touched a fresh record low of 110 to the dollar in Moscow on Wednesday and crawled back under 100 in other trading platforms, though it remained under pressure as the country’s financial system teetered under the weight of Western sanctions imposed over Moscow’s invasion of Ukraine. The Russian stock …
Rouble hits new low in Moscow, rebounds outside Russia Read More »
(Reuters) – The former chief executive of electric vehicle startup Lordstown Motors Corp sold $13.5 million worth of shares in the electric vehicle startup on Feb. 28, according to a regulatory filing – a day before General Motors Co disclosed it had sold its stake in the company. Steve Burns sold nearly 5.3 million shares …
Lordstown Motors ex-CEO sold shares day before GM said it exited stake -filing Read More »
(Reuters) – The U.S. economy expanded at a modest to moderate pace from mid January through mid February while inflation pressures broadened and employers continued to struggle to find workers, a Federal Reserve report showed on Wednesday. The mixed picture illustrated in the U.S. central bank’s latest survey of business contacts across the country mirrors …
U.S. firms buffeted by high inflation and worker shortages, Fed survey shows Read More »
By Lucia Mutikani WASHINGTON (Reuters) – U.S. private employers hired more workers than expected in February and data for the prior month was revised sharply higher to show strong job gains instead of losses, aligning with other reports that have painted an upbeat picture of the labor market. The ADP National Employment Report on Wednesday …
U.S. private payrolls rise solidly as labor market continues to gain traction Read More »
By Howard Schneider and Lindsay Dunsmuir WASHINGTON (Reuters) -Federal Reserve Chair Jerome Powell, balancing high U.S. inflation against the complex new risks of a European land war, said Wednesday the central bank would begin “carefully” raising interest rates at its upcoming March meeting but be ready to move more aggressively if inflation does not cool …
Fed’s Powell backs quarter point March rate hike; open to bigger moves later Read More »
LONDON (Reuters) – OPEC+ will likely stick to modest oil output rises when it meets on Wednesday, officials said, as OPEC heavyweights Saudi Arabia and the United Arab Emirates (UAE) recommit to their deal with Russia despite widening sanctions on Moscow and oil prices at eight-year highs. Oil shot above $110 per barrel this week …
OPEC+ seen sticking to modest output rises despite oil rally Read More »
By Michelle Price and Sumeet Chatterjee WASHINGTON/HONG KONG (Reuters) – Faced with an unprecedented level of sanctions on Russia, global banks are taking a dim view of business with all Russian entities and dropping clients if there is even a slight doubt on their ties to that country, said bankers and lawyers. Over the past …
Global banks eschew risk as they navigate Russia sanctions quagmire Read More »
PARIS (Reuters) – Airbus said on Wednesday it had stopped sending spare parts to Russia and supporting Russian airlines, but was analysing whether its Moscow engineering centre could keep providing services to local customers under Western sanctions. “Airbus has suspended support services to Russian airlines, as well as the supply of spare parts to the country,” …
Airbus halts Russia parts, studying engineering centre options Read More »
MOSCOW (Reuters) – Foreign investors are effectively stuck with their holdings of rouble-denominated bonds, known as OFZs, after the Russian central bank put a temporary halt on coupon payments and a major overseas’ settlement system stopped accepting Russian assets. The National Settlement Depositary (NSD), a Russian version of the world’s biggest settlement systems, Euroclear and …
Russia bans coupon payments to foreigners holding rouble bonds Read More »
