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Russia’s ally China tells EU it will pursue Ukraine peace in its own way
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Dollar edges higher after robust U.S. jobs data
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Oil benchmarks on course for biggest weekly losses in 2 years
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Moscow says firms’ foreign-listed depositary receipts will be forced to return to Russia
Inflation ‘rhino’ may be difficult to stop, Deutsche Bank says
Date: April 1, 2022
LONDON (Reuters) -An inflationary wave unleashed by the war in Ukraine and the response to COVID may be hard to stop because of an energy price shock, sanctions that are exacerbating supply chain problems and labour shortages, Deoktsche Bank Wealth Management said. “The rhino in the room has been unleashed and may now prove difficult...
Europe’s appetite for U.S. gas fast-tracks two new LNG projects
Date: April 1, 2022
By Marcy de Luna HOUSTON (Reuters) – Two U.S. liquefied natural gas (LNG) projects took major steps toward launching this week as Russia’s threats to cut energy supplies to Europe drives up demand and prices for the super-chilled fuel. Developers Sempra Energy and New Fortress Energy Inc advanced agreements on separate projects, one of which...
Chinese trade with Russia feels the sting of Ukraine war
Date: April 1, 2022
By Sophie Yu and Brenda Goh SHANGHAI/BEIJING (Reuters) – Chinese exports to Russia have been buffeted as the rouble swings in value, clear evidence of a ripple effect that Western sanctions over Russia’s invasion of Ukraine are having in China, even as it sticks by its neighbour diplomatically. Chinese multinationals have stayed in Russia while...
Europe can learn lessons from 1970s oil shock as rationing looms
Date: April 1, 2022
By Francesco Canepa FRANKFURT (Reuters) – With Russia threatening to cut off the supply of vital gas and oil, European governments are dusting off rationing plans that bring back memories of the 1973 energy crisis. Are Europeans heading for car-free Sundays, dimmer lights and what felt like government-mandated bedtime as TV broadcasts ended early –...
UniCredit completes sale of Turkey’s Yapi Kredi
Date: April 1, 2022
MILAN (Reuters) – UniCredit has finalised the sale of its remaining 18% stake in Turkey’s Yapi Kredi Bank to Istanbul-listed Koc Holding, Italy’s second-biggest lender said on Friday. The transaction, which was announced in November, allows the Italian bank to complete its exit from Turkey’s third-biggest lender, UniCredit said without disclosing financial terms of the...
Analysis-Russia’s rouble rebound is not as real as it seems
Date: April 1, 2022
By Tommy Wilkes LONDON (Reuters) – The rouble has staged a lightening-fast recovery to levels last reached in the days before Russia invaded Ukraine, defying predictions that the war would launch it into freefall. The dramatic rebound – the currency nearly halved in value in seven trading sessions following the Feb. 24 invasion – is...