JPMorgan’s Dimon warns of potential $1 billion loss from Russia exposure

JP Morgan CEO Jamie Dimon looks on during the inauguration the new French headquarters of JP Morgan bank in Paris, France June 29, 2021. Michel Euler/Pool via REUTERS Register now for FREE unlimited access to Reuters.com Register NEW YORK, April 4 (Reuters) – JPMorgan (JPM.N) boss Jamie Dimon warned on Monday that the bank could … Read more

Biden administration weighs largest ever draw from emergency oil reserve- sources

A US postal worker puts his seatbelt on after filing up his vehicle at a gas station in Garden Grove, California, US, March 29, 2022. REUTERS/Mike Blake Register now for FREE unlimited access to Reuters.com Register WASHINGTON, March 30 (Reuters) – The Biden administration is considering releasing up to 180 million barrels of oil over … Read more

Russia steps up economic retaliation with Eurobond ruble buyback offer

A view shows Russian ruble coins in this picture illustration taken October 26, 2018. Picture taken October 26, 2018. REUTERS/Maxim Shemetov Register now for FREE unlimited access to Reuters.com Register Eurobond ruble payment offer revives default fears Moscow does not say if bondholders must take rubles Russia has already demanded gas payments in rubles Move … Read more

War in Ukraine causes German business morale to collapse

The skyline with the banking district is photographed in Frankfurt, Germany, September 22, 2021. REUTERS/Kai Pfaffenbach Register now for FREE unlimited access to Reuters.com Register BERLIN, March 25 (Reuters) – German business morale plummeted in March as companies worried about rising energy prices, driver shortages and the stability of supply chains in the wake of … Read more

EXCLUSIVE Clients plead with top custodian banks to stay in Russia

Banks face mounting pressure to commit to custody roles Banks say they will meet existing client obligations Some clients afraid exits will follow as costs soar LONDON/NEW YORK, March 23 (Reuters) – Global banks including Citigroup Inc (CN), JPMorgan Chase & Co (JPM.N) and Societe Generale (SOGN.PA) face pressure to commit to remaining as custodian … Read more

Foreigners banned from selling Russian stocks as market set for limited reopening

March 23 (Reuters) – Russia plans to resume some stock trading on Thursday after a near month-long hiatus, with 33 ruble securities to be traded on the Moscow Exchange. Non-residents will have to wait, though – they will be barred from selling stocks and OFZ ruble bonds until April 1. Trading in blue chips, including … Read more

Halliburton, Schlumberger draw back from Russia amid US energy sanctions

Halliburton’s booth is seen at the World Petroleum Congress, in Houston, Texas, US December 6, 2021. REUTERS/Sabrina Valle Register now for FREE unlimited access to Reuters.com Register March 18 (Reuters) – US oilfield services companies Halliburton Co (HAL.N)and Schlumberger said on Friday they havesuspended or halted Russia operations in response to US sanctions over Moscow’s … Read more

EXCLUSIVE Moscow sets out strict new controls on foreigners trading Russian assets

Steam rises from chimneys of a heating power plan over the skyline of central Moscow, Russia November 23, 2020. REUTERS/Maxim Shemetov/File Photo Register now for FREE unlimited access to Reuters.com Register Russia temporarily stopped foreigners selling assets Foreigners now need to provide details before trading Applications for permits must be made in Russian language LONDON/NEW … Read more

Mercedes to continue EV investments despite Ukraine war disruptions

TUSCALOOSA, Ala., March 15 (Reuters) – Mercedes-Benz AG (MBGn.DE) won’t cut spending on future electric vehicles even as it copes with supply-chain cost pressures exacerbated by the Russia-Ukraine conflict, the German automaker’s chief executive said on Tuesday. Ola Kaellenius, speaking during the company’s opening of its first US electric vehicle (EV) battery factory, also affirmed … Read more

Musk says Tesla, SpaceX see significant inflation risks

SpaceX owner and Tesla CEO Elon Musk speaks during a conversation with legendary game designer Todd Howard (not pictured) at the E3 gaming convention in Los Angeles, California, US, June 13, 2019. REUTERS/Mike Blake Register now for FREE unlimited access to Reuters.com Register March 13 (Reuters) – Tesla Inc (TSLA.O) Chief Executive Officer Elon Musk … Read more