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UK’s Sunak, under fire over cost of living, defends his tax cut plans
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Bullion groups launch gold bar database to thwart fraud
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UniCredit CEO’s pay draws fresh criticism from investor advisers
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Shanghai locks down as COVID surges in China’s financial hub
In Istanbul and Dubai, Russians pile into property to shelter from sanctions
Date: March 28, 2022
By Ceyda Caglayan, Saeed Azhar and Riham Alkousaa ISTANBUL/DUBAI (Reuters) – Wealthy Russians are pouring money into real estate in Turkey and the United Arab Emirates, seeking a financial haven in the wake of Moscow’s invasion of Ukraine and Western sanctions, according to many property companies. “We sell seven to eight units to Russians every...
Major Ericsson shareholders to vote against some board members at AGM
Date: March 28, 2022
By Supantha Mukherjee and Helena Soderpalm STOCKHOLM (Reuters) – Major shareholders in Ericsson, including Cevian Capital, Swedbank Robur and Norway’s wealth fund, will vote against a motion to clear some board members of responsibility over possible payment of bribes to militant organisations in Iraq, deepening a crisis at the Swedish company that has cut its...
EU should have its own full budget to stabilise economy, survey suggests
Date: March 28, 2022
By Jan Strupczewski BRUSSELS (Reuters) – The European Union should, like national governments, have a proper budget it could use to stabilise the bloc’s economy if needed, a European Commission survey of academics, think-tanks and other bodies and individuals has suggested. The 27-nation EU currently has a budget that focuses mainly on equalising living standards...
Huawei ‘more united’ in face of U.S. pressure, says repatriated CFO
Date: March 28, 2022
By Josh Horwitz SHANGHAI (Reuters) – U.S. pressure on Huawei Technologies has served to strengthen the resolve of the Chinese telecoms giant, finance chief Meng Wanzhou said on Monday after its first set of results since her return from nearly three years’ detention in Canada. The daughter of Huawei founder Ren Zhengfei played a central...
Oil slides on concerns of weaker Chinese demand
Date: March 28, 2022
By Rowena Edwards LONDON (Reuters) – Oil prices tumbled more than $6 on Monday as fears over weaker fuel demand in China grew after financial hub Shanghai lockdown efforts to curb a surge in COVID-19 infections. Brent crude futures slid as low as $113.72 a barrel and were trading down $5.97, or 4.9%, at $114.68...
Spain to approve 16 billion euros in aid to offset soaring energy costs
Date: March 28, 2022
By Belén Carreño and Inti Landauro MADRID (Reuters) – Spain announced 16 billion euros ($17.5 billion) in direct aid and soft loans on Monday to help companies and households weather sky-high energy prices that are pushing up inflation and stoking social discontent. The government will approve on Tuesday the package to mitigate the fallout of...