PARIS (Reuters) – Auto transport company Gefco, co-owned by French-Italian carmaker Stellantis, said on Friday it will buy back the 75% of its shares that are held by Russian Railways (RZD) after it was placed under western sanctions. The buyback was p…
UK starts criminal and civil probes into P&O Ferries job cuts
LONDON (Reuters) -Britain’s insolvency service has started formal criminal and civil investigations into P&O Ferries to look into the company’s decision to fire hundreds of workers without notice last month, business minister Kwasi Kwarteng said on Fri…
Europe signals unity against Russian gas payment demands
By Marwa Rashad LONDON (Reuters) -Europe vowed to stay united against Russia’s demand that they pay for its gas in roubles, as the threat of an imminent supply halt eased on Friday. European capitals have been bracing for a disruption to gas imports as…
Euro rises vs dollar as eurozone inflation fans rate hike expectations
(Adds dropped word from company name in 13th paragraph in story from Wednesday) By John McCrank NEW YORK (Reuters) -The dollar dropped to a nearly two-week low on Wednesday as optimism over peace talks between Russia and Ukraine faded and investors’ at…
England’s COVID R number dips, case growth could be slowing
LONDON (Reuters) – The estimated range of England’s COVID-19 reproduction “R” number is between 1.1 and 1.2, the UK Health Security Agency said on Friday, with the growth of daily cases slowing down. An R number between 1.1 and 1.2 means that for every…
Kering to pay 187 million euros to settle Bottega Veneta tax dispute
MILAN (Reuters) -French luxury goods group Kering agreed to pay almost 187 million euros ($207 million) to settle a dispute with Italian tax authorities centred on its fashion brand Bottega Veneta, three sources with direct knowledge of the matter said…
Gazprom says Q1 gas exports outside ex-Soviet Union down 27.1% y/y
(Reuters) – Russia’s Gazprom said on Friday that its natural gas exports outside former Soviet Union countries fell to 38.5 billion cubic metres (bcm) in the quarter ended March 31, down 27.1% from a year earlier. It said its gas output for the quarter…
Mid-air collision of S.Korean trainer planes kills four
By Hyonhee Shin SEOUL (Reuters) -Two South Korean air force planes collided in mid-air on Friday during a training exercise, killing four pilots, authorities said. A total of 130 troops, 95 police officers and 60 firefighters as well as three helicopte…
Ukraine unable to get supplies to Mariupol or evacuate civilians – mayor’s aide
By Natalia Zinets (Reuters) -An aide to the mayor of Mariupol said on Friday the besieged southern Ukrainian city remained closed for anyone trying to enter and was “very dangerous” for anyone trying to leave. Petro Andryushchenko said Russian forces h…
China March factory activity contracts at sharpest rate in 2 years – Caixin PMI
BEIJING (Reuters) – China’s factory activity slumped at the fastest pace in two years in March due to a local COVID-19 resurgence and economic fallout from the Ukraine war, a survey showed on Friday, strengthening the case of more policy support for th…