(Reuters) – Russia made what appeared to be a late u-turn to avoid a default on Friday, as it made a number of already-overdue international debt payments in dollars despite previously vowing they would only be paid in roubles. Whether the money would …
Broad-based euro zone inflation at record high 7.5% in April
FRANKFURT (Reuters) – Euro zone inflation inched up to a new record high as expected this month, making uncomfortable reading for European Central Bank policymakers already worried that rapid price growth could become entrenched, creating a hard-to-bre…
Insurer Allianz toughens oil & gas policy to help meet climate goal
By Simon Jessop and Carolyn Cohn LONDON (Reuters) – Europe’s biggest insurer Allianz plans to take a harder line on insuring the oil and gas industry as part of efforts to align its underwriting policies with the world’s climate goal, the company said …
Sanctions tighten screws on Russia’s Sovcomflot as ship insurers cut cover
By Jonathan Saul LONDON (Reuters) – Western ship insurers are terminating cover for Russia’s leading shipping company Sovcomflot as multiple sanctions start to bite, companies involved say, adding to the growing challenges for the state-owned company a…
Flows, not growth fears, drive euro to five year lows – BNP Paribas
By Saikat Chatterjee LONDON (Reuters) – Big speculative flows and not concerns about a worsening economic outlook explain the euro’s slide to a five-year low below $1.05 this week, a study by BNP Paribas showed. BNP Paribas strategists said the euro’s …
Canada’s Imperial Oil nearly triples quarterly profit on surging crude prices
By Nia Williams and Ruhi Soni (Reuters) -Canada’s Imperial Oil on Friday booked a first-quarter profit boosted by soaring global oil prices, and announced plans for a substantial issuer bid (SIB) that will involve buying back up to C$2.5 billion ($1.95…
Musk told banks he will rein in Twitter pay, make money from tweets -sources
By Krystal Hu and Anirban Sen (Reuters) -Elon Musk told banks that agreed to help fund his $44 billion acquisition of Twitter Inc that he could crack down on executive and board pay at the social media company in a push to slash costs, and would develo…
More than 3,000 people lost in sea crossings to Europe in 2021 -UN
By Emma Farge GENEVA (Reuters) -More than 3,000 refugees, migrants and asylum seekers died or went missing last year while trying to reach Europe via Mediterranean and Atlantic sea routes, a U.N. refugee agency report showed on Friday, reporting the hi…
Gazprom confirms May gas volumes for Moldova – Moldovagaz CEO
(Reuters) – Russian energy producer Gazprom has officialy confirmed the gas volumes it will be shipping to Moldova in May 2022, the head of state energy firm Moldovagaz Vadim Ceban said on Friday. (Reporting by Reuters; editing by Jason Neely)
Lending to euro zone businesses slowed in early weeks of Ukraine war
FRANKFURT (Reuters) – Bank lending to euro zone businesses slowed in March, reinforcing expectations that Russia’s war in Ukraine would prompt both banks and corporations to tread cautiously, data from the European Central Bank showed on Friday. With t…