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Euro zone Q2 growth revised down slightly, employment rises
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Analysis-U.S., European banks could lose over $5 billion from risky buyout loans
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Pummelled by gas crisis, Germany’s Uniper posts $12.5 billion net loss
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Coca-Cola and McDonald’s left Russia. Their brands stayed behind
India eases Russian oil buying in July, boosts Saudi imports -trade
Date: August 17, 2022
By Nidhi Verma NEW DELHI (Reuters) – India’s crude oil imports from Russia in July fell for the first time since March along with its overall purchase while supplies from Saudi Arabia rebounded for the first in five months, data obtained from trade and industry sources showed. Indian refiners lifted more term supplies from Saudi...
Russian Urals crude oil prices jump ahead of EU embargo
Date: August 17, 2022
By Julia Payne LONDON (Reuters) – Russia’s key crude oil grade, Urals, has been trading at levels not seen in Europe since early March as refiners snap up the last barrels ahead of an European Union embargo, three traders familiar with the dealings said this week. Urals oil is still flowing to European refiners under...
China’s Tencent reports first revenue drop as gaming regulations and COVID-19 bite
Date: August 17, 2022
By Josh Ye HONG KONG (Reuters) -China’s Tencent Holdings suffered its first ever quarterly sales fall on Wednesday, hurt by a government clampdown on game approvals and playing time as well as COVID-19 lockdowns and a weakening economy that squeezed ad sales. The contraction marks a nadir for the gaming giant and owner of the...
Spot prices up on less solar, rising French demand
Date: August 17, 2022
PARIS (Reuters) – European spot power contracts rose on Wednesday, as solar supply in Germany is expected to fall while demand is forecast to rise in France and a reactor restart was pushed back one day. German baseload power for delivery on Thursday rose 2.4% to 561 euros ($570.76) a megawatt-hour (MWh) at 0914 GMT....
Norway’s wealth fund loses record $174 billion in first half of 2022
Date: August 17, 2022
By Victoria Klesty OSLO (Reuters) -Norway’s sovereign wealth fund, the world’s largest, made a record loss of 1.68 trillion Norwegian crowns ($174 billion) in the first half of 2022 as stocks and bonds were hit by global recession fears and rampant price inflation. The $1.3 trillion fund’s return on investment was a negative 14.4% for...
Analysis-China central bank, under pressure to ease, is hemmed-in by inflation, Fed jitters
Date: August 17, 2022
By Kevin Yao BEIJING (Reuters) – China’s central bank is set to take more easing steps, pressured by a shaky economy that is undercutting jobs, but it faces limited room to manoeuvre due to worries over rising inflation and capital flight, policy insiders and analysts said. Analysts now expect cuts in the country’s benchmark lending...