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Oil Jumps $4 a Barrel as EU Proposes Ban on Russian Oil
Date: May 4, 2022
By Ahmad Ghaddar and David Gaffen NEW YORK (Reuters) -Oil prices jumped on Wednesday as the European Union, the world’s largest trading bloc, spelled out plans to phase out imports of Russian oil, which offset worries about demand in top crude importer China. Brent crude futures were up $4.00, or 3.8%, to $108.97 a barrel...
Volkswagen Sticks to Outlook as Size Offset Supply Chain Woes
Date: May 4, 2022
By Christoph Steitz and Jan Schwartz FRANKFURT (Reuters) -Volkswagen, Europe’s top carmaker, on Wednesday stuck to its outlook for 2022, shrugging off supply chain disruptions caused by the war in Ukraine and the pandemic by drawing on its global production network. Global carmakers, like most industrial sectors, face a scarcity of key components in the...
Telenor Q1 Profit Misses Forecast as Costs Rise
Date: May 3, 2022
OSLO (Reuters) -Norway’s Telenor posted on Tuesday weaker-than-expected first-quarter profits and said growth in earnings was expected to lag revenue development by a few quarters as costs rose. Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for January-March fell 4.5% year-on-year to 11.66 billion Norwegian crowns ($1.24 billion), while analysts in a poll on...
Dsm Earnings Beat Expectations as Strong Demand Offsets Inflation
Date: May 3, 2022
AMSTERDAM (Reuters) – Dutch specialty chemicals maker DSM on Tuesday beat analysts’ expectations with a 10% jump in quarterly core profit to 487 million euros ($511 million), as demand for its food ingredients and materials stayed strong despite elevated prices. Revenues also came in higher than expected at 2.59 billion euros for the first quarter,...
In Shift, Germany Says It Could Back Immediate EU Ban on Russian Oil
Date: May 2, 2022
By Tom Balmforth KYIV (Reuters) -Germany said on Monday it was prepared to back an immediate European Union embargo on Russian oil, a major shift from Moscow’s biggest energy customer that could let Europe impose such a ban within days. Russia’s energy exports – by far its biggest source of income – have so far...
The New Jet Set: How the COVID-driven Boom in Private Jets Is Still Flying High
Date: May 2, 2022
By Allison Lampert and Rajesh Kumar Singh (Reuters) – Guy Stockbridge runs multiple businesses from his headquarters in central California, including landscape companies that ripple across his home state and a utility solar business with operations in 17 states. Flying is a way of life for Stockbridge and others at his company, Elite Team Offices,...