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IKEA to spend 3 billion euros on stores as it adapts to e-commerce
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Russian attacks on rail system fail to paralyse ‘lifeline of Ukraine’
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Analysis: Markets must face up to tightening financial conditions
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Russia publishes list of ‘parallel imports’ goods
G7 leaders, Ukraine’s Zelenskiy to hold talks on Sunday
Date: May 6, 2022
WASHINGTON (Reuters) – Group of Seven (G7) leaders will hold talks with Ukrainian President Volodymyr Zelenskiy on Sunday after U.S. President Joe Biden earlier this week said they would discuss possible additional actions in response to Russia’s invasion of Ukraine. Talks will focus on the war’s latest developments, efforts to bolster Ukraine and ways to...
Danone reorganises Chinese assets, cuts ties with Mengniu
Date: May 6, 2022
PARIS (Reuters) -France’s Danone said on Friday it would end its partnership with Chinese milk firm Mengniu by selling a 25% stake it holds in milk powder maker Yashili as well as a 20% joint venture participation. In return, Danone will acquire from Yashili 100% of the Dumex Baby Food infant milk unit. The different...
Poland not near end of rate hike cycle, says central bank head
Date: May 6, 2022
By Anna Wlodarczak-Semczuk WARSAW (Reuters) – Poland’s central bank is not nearing the end of its policy tightening cycle and will keep raising the cost of credit until it sees a lasting decrease in inflation, its governor said on Friday, after it hiked rates less than expected. Thursday’s decision to raise the main rate by...
Belgian brewer starts global roll-out of Ukraine beer for relief effort
Date: May 6, 2022
By Clement Rossignol and Christian Levaux LEUVEN, Belgium (Reuters) – The world’s largest brewer launched production of a popular Ukrainian beer in Belgium on Friday and said all profits made from its global sales would go to humanitarian relief in Ukraine following Russia’s invasion. Anheuser-Busch InBev (AB InBev) has halted production of the Chernigivske lager...
CME explores nickel contract after LME trade chaos -sources
Date: May 6, 2022
By Pratima Desai LONDON (Reuters) – CME Group is talking to market participants about the idea of a cash-settled nickel contract for companies to hedge costs of the electric vehicle battery raw material, two sources with knowledge of the matter said. Market participants say a viable alternative trading venue would give disgruntled users the opportunity...
Swiss press freedom dealt blow in bid for overhaul of bank secrecy rules
Date: May 6, 2022
By Brenna Hughes Neghaiwi ZURICH (Reuters) -Lawmakers blocked a bid to overhaul strict Swiss banking secrecy rules on Friday in a blow to freedom of information advocates seeking an exemption for journalists and whistleblowers. Switzerland has been under fire over its press freedom rules after a law introduced in 2015 led a leading media group,...