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Oil falls on China growth worries as EU weighs Russian crude ban
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Dollar approaches 20-year highs, Fed meeting in focus
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Japan PM agrees defence deal with Thailand
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More than 3,000 civilians killed in Ukraine so far: UN
After five record crops, heat wave threatens India’s wheat output, export plans
Date: May 2, 2022
By Mayank Bhardwaj and Neha Arora NEW DELHI (Reuters) -India’s wheat output looks likely to fall in 2022 after five consecutive years of record harvests, as a sharp, sudden rise in temperatures in mid-March cut crop yields in the world’s second-biggest producer of the grain. The drop could curb Indian exports of the staple. Cashing...
Italy readies $7 billion package to curb energy prices, help firms
Date: May 2, 2022
By Giuseppe Fonte ROME (Reuters) – Italy is set to unveil a new stimulus package on Monday worth up to 7 billion euros ($7.35 billion) to curb surging energy prices and help companies cope with the economic impact of the war in Ukraine, unions said after a meeting with the government. The new stimulus comes...
Setback for Shanghai’s COVID battle as Beijing ramps up mass testing
Date: May 2, 2022
By Brenda Goh and Sophie Yu SHANGHAI/BEIJING (Reuters) -China’s commercial capital of Shanghai was dealt a blow on Monday as authorities reported 58 new COVID-19 cases outside areas under strict lockdown, while Beijing pressed on with testing millions of people on a May Day holiday few were celebrating. Tough coronavirus curbs in Shanghai have stirred...
Apple hit with EU antitrust charge over mobile payments technology
Date: May 2, 2022
By Foo Yun Chee BRUSSELS (Reuters) -Apple <AAPL.O> faces a possible hefty fine and may have to open its mobile payment system to competitors after EU antitrust regulators charged the iPhone maker with restricting rivals’ access to its technology used for mobile wallets. This marks the second EU charge against Apple after EU regulators last...
Audi, Porsche to join Formula One, VW CEO says
Date: May 2, 2022
BERLIN (Reuters) -Volkswagen’s premium brands Audi and Porsche will join Formula One after convincing the German automaking group that the move will bring in more money than it will cost, VW Chief Executive Herbert Diess said on Monday. Discussions by the board of directors about the two brands’ plans had created some divisions, said Diess...
Germany should cut gas use in preparation for Russian cut-off -research
Date: May 2, 2022
By Vera Eckert FRANKFURT (Reuters) – Germany should already limit gas use, even though Russian supplies have so far continued, to prepare for the possibility of a future cut-off in retaliation for Western sanctions over Moscow’s invasion of Ukraine, energy research institute EWI said on Monday. Russian energy giant Gazprom last Wednesday stopped gas supplies...