Reuters US Economy

By Nia Williams CALGARY, Alberta (Reuters) – The world is scrambling for oil after Russia’s invasion of Ukraine sent prices rocketing and upended global supply but producers in Canada, home to the world’s third-largest reserves, have no plans to significantly boost output. Despite the surge in oil prices to 11-year highs, Canadian companies are wary …

As world scrambles for oil, Canadian producers reluctant to spend on growth Read More »

BERLIN (Reuters) – Activity in Germany’s services sector grew further in February as the country began loosening the COVID containment measures that had pressured its economy in late 2021, although the Ukraine crisis casts uncertainty over the March outlook, a survey showed on Thursday. IHS Markit’s final Purchasing Managers’ Index (PMI) for services rose to …

Lifting of COVID curbs boosts German private sector in Feb – PMI Read More »

(Reuters) – European shares gained in early trading on Thursday as a relentless rally in commodity prices boosted mining and oil stocks, despite concerns about the overall impact of mounting sanctions against Russia. The Europe-wide STOXX 600 index had gained 0.6% by 0819 GMT. Asian shares steadied following a Wall Street bounce overnight on Federal …

Soaring commodity stocks support European shares Read More »

BERLIN (Reuters) – German imports from Russia exceeded exports last year because prices for imported crude oil and natural gas had risen sharply, Germany’s Federal Statistics Office reported on Thursday. In the prior year, Germany had attained its first export surplus with Russia since 1993, the office added. The trade data highlight Germany’s reliance for …

German imports exceeded exports in 2021 trade with Russia – stats office Read More »

By Gwladys Fouche OSLO (Reuters) – Norway’s $1.3 trillion wealth fund, the world’s largest, said on Thursday it held investments in Russia worth some 27 billion crowns ($3.03 billion) at the end of 2021, equivalent to 0.2% of its total value and down from 30 billion crowns a year earlier. On Sunday the government said …

Norway wealth fund held $3 billion in Russian investments at end of 2021 Read More »

By Naveen Thukral and Gavin Maguire SINGAPORE (Reuters) – Commodity markets extended their bull runs on Thursday, with aluminium, coal and palm oil all hitting new records while crude oil and wheat scaled multi-year highs as Russia’s invasion of Ukraine disrupted global raw material flows. Russia’s stature as a top supplier in oil, gas, metals, …

Aluminium hits record top; oil, wheat at multi-year highs on supply woes Read More »

By David Lawder CHICAGO (Reuters) – U.S. Treasury Secretary Janet Yellen said on Wednesday that the United States and Western allies have immobilized half of the assets of the Russian central bank and will continue to impose “severe consequences” on Russian President Vladimir Putin and the wealthy oligarchs who support him if he escalates his …

Yellen says Treasury to curb wealth of Russian oligarchs over Ukraine war Read More »

By Alexandra Alper and Doina Chiacu WASHINGTON (Reuters) -The United States on Wednesday took aim at Russia’s oil refining sector with new export curbs and targeted Belarus with sweeping new export restrictions, as the Biden Administration amps up its crackdown on Moscow and Minsk over the invasion of Ukraine. The new round of sanctions, announced …

U.S. hits Russian oil refining sector, slaps export curbs on Belarus Read More »

By Christoph Steitz FRANKFURT (Reuters) – German oil and gas firm Wintershall Dea said on Wednesday it would stop payments to Russia and write off its 1 billion euro ($1.1 billion) financing in the Nord Stream 2 gas pipeline, which was suspended last week. The group, one of the five co-funders of Nord Stream 2, …

Wintershall Dea stops payments to Russia, writes off $1.1 billion Nord Stream 2 loan Read More »

BEIRUT (Reuters) – Complying with a London court order requiring Lebanon’s Bank Audi and SGBL to pay a depositor $4 million of money stuck in the nation’s crisis-hit banking sector will result in other savers losing out, Bank Audi said on Wednesday. The court ordered Bank Audi and its peer SGBL on Feb. 28 to …

Lebanon’s Bank Audi says UK court order will leave some depositors out of pocket Read More »