LONDON (Reuters) – A Russian-backed separatist leader said on Wednesday that 140,000 people had left the Ukrainian city of Mariupol for Russia or the breakaway Donetsk People’s Republic since Russian forces began besieging it, the Interfax news agency …
Global flood losses hit $82 billion last year, as study highlights UK risk
By Gloria Dickie LONDON (Reuters) – Flooding cost the global economy more than $82 billion last year, accounting for nearly a third of all losses from natural catastrophes, reinsurance agency Swiss Re Institute reported Wednesday. In some parts of Euro…
Europe would struggle to refill gas storage without Russian supplies
By Susanna Twidale and Nora Buli LONDON/OSLO (Reuters) – Europe’s plans to build stocks and ensure gas supplies for next winter could be upended if exports from Russia are halted in a standoff over payment terms, risking curbs on industrial use, analys…
Exclusive-Russia to keep gas contract currency unchanged in rouble switch, sources say
(Reuters) – Russia plans to keep the contract currency for gas exports to Europe unchanged but will seek final payment in roubles as one of the options to switch the currency of gas trade, two Russian sources said on Wednesday. President Vladimir Putin…
Profits at large global banks set to fall sharply due to M&A slowdown
By Patturaja Murugaboopathy (Reuters) – Profits at the world’s biggest banks are expected to fall for the first time in seven quarters, dragged down mainly by a slowdown in mergers and acquisitions (M&A) activity and a decline in equity and debt issuan…
Uniper secures one-year extension on 2 billion euro credit line
BERLIN (Reuters) – German utility Uniper and state bank KfW have agreed to extend a 2 billion euro ($2.23 billion) credit facility granted by the bank to Uniper in January until April 2023 due to the ongoing armed conflict in Ukraine, Uniper said on We…
Chechen chief Kadyrov says Russia will make no concessions in Ukraine
LONDON (Reuters) – Ramzan Kadyrov, the powerful head of Russia’s republic of Chechnya, said on Wednesday that Moscow would make no concessions in its war in Ukraine, deviating from the official line and suggesting the Kremlin’s own negotiator was wrong…
Swiss private bank Pictet raided in Petrobras-linked probe
ZURICH (Reuters) – Prosecutors searched the offices of Swiss private bank Pictet in mid-March in connection with a criminal probe into dealings with Brasilian state-run oil firm Petrobras, the bank confirmed following media reports on Wednesday. “The (…
EU lawmakers move to reject green gas and nuclear investment rules
By Kate Abnett and Simon Jessop BRUSSELS (Reuters) – At least two groups of European Union lawmakers have confirmed they will reject an EU proposal to label gas and nuclear energy as sustainable investments, officials said on Wednesday. The European Co…
Cheap ethanol drives French demand for gasoline engine conversion kits
PARIS (Reuters) – Sales of kits that let gasoline engines run on ethanol are surging in France, as drivers switch to using the sharply cheaper crop-based fuel at a time of soaring oil prices. Self-styled market leader FlexFuel Energy Development says i…