By Scott DiSavino NEW YORK (Reuters) -Oil prices rose about 4% on Friday as U.S. gasoline prices jumped to a record high, China looked ready to ease pandemic restrictions and investors worried supplies will tighten if the European Union bans Russian oi…
Britain, U.S. sign commercial spaceflight collaboration deal
LONDON (Reuters) – Britain and the United States have agreed to collaborate on future commercial spaceflight missions, boosting opportunities for firms from both countries to operate from spaceports in either, the British government said on Friday. Bri…
SoftBank’s chip tech firm Arm posts record 2021 revenue
By Jane Lanhee Lee SAN FRANCISCO (Reuters) – SoftBank Group Corp’s chip technology firm Arm Ltd on Thursday reported record revenue for 2021, and Chief Executive Rene Haas told Reuters its business for new chip designs indicates a strong outlook. SoftB…
Oil rises as supply concerns outweigh reduced demand, recession risks
By Laura Sanicola (Reuters) – Oil prices rose on Thursday, reversing earlier losses, as supply concerns and geopolitical tension in Europe got the upper hand over the economic fears dogging financial markets as inflation soars. Brent crude rose 46 cent…
Global growth worries send dollar to new 20-yr high
By Chuck Mikolajczak NEW YORK (Reuters) – The dollar climbed to a fresh 20-year high on Thursday as concerns persisted that central bank actions to drive down high inflation would crimp global economic growth, boosting the currency’s safe-haven appeal….
Exclusive-War forces Ukraine to divert $8.3 billion to military spending, tax revenue drops – minister
By Natalia Zinets KYIV (Reuters) – Ukraine has been forced to spend 245.1 billion hryvnia ($8.3 billion) on its war with Russia instead of development, the finance minister said on Thursday, providing a glimpse into the huge economic cost of Moscow’s F…
French prosecutors probe death linked to E. coli at Nestle pizza plant
PARIS (Reuters) – French prosecutors have launched a preliminary criminal investigation after E. coli infections linked to a pizza factory for Nestle’s Buitoni brand that possibly led to the death of one person. An investigation was opened on Thursday …
BP wins shareholder support for climate strategy
By Ron Bousso and Shadia Nasralla LONDON (Reuters) -BP shareholders on Thursday backed the energy company’s climate strategy, while fewer investors than last year supported a resolution filed by an activist group urging faster action to battle climate …
Europe’s gas supply crisis grows after Russia imposes sanctions
By Joseph Nasr and Markus Wacket BERLIN (Reuters) -Pressure on Europe to secure alternative gas supplies increased on Thursday as Moscow imposed sanctions on European subsidiaries of state-owned Gazprom a day after Ukraine stopped a major gas transit r…
Sri Lanka names new PM in bid to address growing crisis
By Alasdair Pal and Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka appointed a new prime minister on Thursday, as its embattled president seeks a way out of the country’s worst economic crisis since independence that has sparked widespread protests. R…