Business
Russia's Gazprom exits German business amid row over pricing
It was not immediately clear how the move would affect the supply of Russian gas, on which Germany depends for about 40% of its needs. The company said it had terminated its participation in Gazprom Germania GMBH and all of its assets, including Gazprom Marketing & Trading Ltd. It provided no further details or explanation.
Inflation in 19 nations using euro soars to record 7.5%
Rising consumer prices are a growing problem around the world, making it more difficult for people to afford everything from groceries to their utility bills. Spiking energy costs are the main factor driving inflation in Europe, with those prices surging 44.7% last month, up from 32 per cent in February, Eurostat said.
Ukraine war a limited threat to European banks in short-term: EBA
"First-round (direct) risks stemming from the Russian invasion of Ukraine are not a fundamental threat to the stability of the EU banking system but second-round (indirect) effects may be more material," the EBA said.
Russia won't turn off gas supplies to Europe from Friday, Kremlin says
President Vladimir Putin signed an order on Thursday stipulating the change of currency, which European governments have called an unacceptable breach of contract.
Will intensify efforts to bypass dollar-based payment system: Russian Foreign Minister Sergey Lavrov
Soon after holding talks with External Affairs Minister S Jaishankar, Sergey Lavrov said Russia is exploring ways to bypass impediments for bilateral trade with its allies and partners.
Who is buying Russian crude oil and who has stopped
The EU bloc's 27 members have been unable to agree on an embargo, with Germany warning against hasty steps that could push the economy into recession, and, some countries, such as Hungary, opposing any bans.
Global factory activity slows as Ukraine crisis, inflation bite
Uncertainty caused by the invasion, combined with an intensifying cost-of-living crisis, suggests the euro zone's manufacturing industry could slide into a recession this quarter.
Beware of wartime fake news triggering a run, European Union banks told
EBA said exposures of banks in the bloc to Russia are too low to threaten financial stability, but economic fallout from the war in Ukraine and cyber attacks could hit the profitability of lenders.
Russia eases some curbs on transferring money abroad
Russia's central bank said on Friday it was softening restrictions on foreign fund transfers for individuals for a six-month period.
Shanghai COVID curbs prompt half of U.S. firms to cut revenue forecasts: Survey
More than half, or 54%, have cut 2022 revenue projections following the outbreak, though 38% said it was too early to estimate the impact.
Moody's withdraws all credit ratings on Russian entities
Last week, Moody's had announced its intention to withdraw its credit ratings on the entities, following similar moves by Fitch and S&P Global Ratings.
Intel CEO earned 1,711 times more than average company worker in 2021
Gelsinger earned $178.6 million in 2021 with stock awards making up nearly 79% of his total compensation, which was about 698% higher than Swan's 2020 pay.
UK economy grew more quickly than thought in late 2021
Britain's economy grew more quickly than previously thought in the last three months of 2021 when the country was hit by the Omicron wave of COVID-19 cases, official data showed on Thursday.
Seafood biz braces for losses of jobs, fish due to sanctions
The latest round of U.S. attempts to punish Russia for the invasion of Ukraine includes bans on imports of seafood, alcohol and diamonds. The U.S. is also stripping "most favored nation status" from Russia. Nations around the world are taking similar steps.
ABB to launch $3 bln share buyback on Friday
The buyback follows repurchases totaling around $6.6 billion since July 2020, ABB said, as it seeks to return proceeds from the sale of 80% of its Power Grids unit to Japan's Hitachi .
IMF warns Russia sanctions threaten to chip away at dollar dominance
"The dollar would remain the major global currency even in that landscape but fragmentation at a smaller level is certainly quite possible," Gopinath told the newspaper in an interview, adding that some countries are already renegotiating the currency in which they get paid for trade.
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