Russia’s Inter RAO to halt power exports to Finland due lack of payment

Russia’s Inter RAO to halt power exports to Finland due lack of payment

HELSINKI, May 13 (Reuters) – Russian state-owned utility Inter RAO (IRAO.MM) will stop exporting electricity to Finland from Saturday because it has not been paid, the company’s Finnish subsidiary said on Friday. Inter RAO has not received payments for electricity sold via pan-European power exchange Nord Pool since May 6, the subsidiary said, without giving … Read more

UK strikes new security agreement with Sweden and Finland

UK strikes new security agreement with Sweden and Finland

HELSINKI, May 11 (Reuters) – British Prime Minister Boris Johnson on Wednesday said he had agreed new deals with Sweden and Finland to bolster European security, pledging to support both countries’ armed forces should they come under attack. Johnson signed the new declarations, described by Britain as “a step-change in defense and security cooperation”, during … Read more

Russian auto boomtown grinds to halt over Ukraine sanctions

Russian auto boomtown grinds to halt over Ukraine sanctions

Kaluga car plants halt production Car demand falls, food prices soar Some hope Western resolve won’t last Others have seen crises pass before April 5 (Reuters) – Thousands of auto workers have been furloughed and food prices are soaring as Western sanctions pummel the small Russian city of Kaluga and its flagship foreign carmakers, with … Read more

Lockheed Martin takes big step towards winning Canada jet race – industry source

Lockheed Martin takes big step towards winning Canada jet race – industry source

OTTAWA, March 28 (Reuters) – Canada will announce on Monday that Lockheed Martin Corp (LMT.N) is the preferred bidder to supply 88 new fighter jets, a clear sign the US company is set to win the multibillion-dollar contract, said an industry source close to the file. The move indicates Canada – under pressure to boost … Read more

Alibaba raises share buyback to $25 billion from $15 billion

Alibaba raises share buyback to  billion from  billion

A man walks past a logo of Alibaba Group at its office building in Beijing, China August 9, 2021. REUTERS/Tingshu Wang Register now for FREE unlimited access to Reuters.com Register March 22 (Reuters) – Alibaba Group Holding Ltd raised its share buyback program to $25 billion on Tuesday, its second increase in less than a … Read more

Exclusive: Veon employees in bomb shelters keep Ukraine’s biggest mobile network up, CEO says

Exclusive: Veon employees in bomb shelters keep Ukraine’s biggest mobile network up, CEO says

The logo of Kyivstar, one of Ukraine’s largest telecoms company, is pictured at the company’s headquarters in Kyiv, Ukraine, March 3, 2016. REUTERS/Gleb Garanich/File Photo Register now for FREE unlimited access to Reuters.com Register STOCKHOLM/AMSTERDAM, March 18 (Reuters) – Thousands of telecom operator Veon employees are working from bomb shelters in Ukraine and moving equipment … Read more

Carmakers face soaring metal costs with Russian supplies at risk

Carmakers face soaring metal costs with Russian supplies at risk

LONDON, March 8 (Reuters) – Saving up for a new ride? Better start putting more cash aside. Russia’s invasion of Ukraine is ramping up the price of metals used in cars, from aluminum in the bodywork to palladium in catalytic converters to the high-grade nickel in electric vehicle batteries, and drivers are likely to foot … Read more

Uniqlo owner stays put in Russia as Levi, AMEX and other severe ties

Uniqlo owner stays put in Russia as Levi, AMEX and other severe ties

Uniqlo’s Russian stores to stay open Danone suspends investments in country KPMG, PwC, EY, Deloitte all cut ties with local units American Express calls Ukraine attack ‘unjustified’ March 7 (Reuters) – Uniqlo owner Fast Retailing (9983.T) will keep its stores in Russia open, joining a small group of international firms that are staying put even … Read more

With fast-weakening rouble and fears for future, Russians rush to shop

With fast-weakening rouble and fears for future, Russians rush to shop

Russian rouble coins are seen in this illustration taken, February 24, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Register now for FREE unlimited access to Reuters.com Register March 5 (Reuters) – In bright sunshine, a long queue of shoppers snaked outside an IKEA store near Moscow this week. Similar scenes were repeated across Russia as families rushed to … Read more

Grab’s $28 Billion Market Plunge Shows Perils of SPAC Mergers

Grab’s  Billion Market Plunge Shows Perils of SPAC Mergers

Grab Holdings Ltd. RECORD -37.28% the Southeast Asian superapp that set a high watermark for SPAC mergers last year, has quickly become one of the market’s biggest post-listing flops. On Thursday, Grab’s shares plunged 37% to $3.28 apiece after the company released its 2021 results, taking its market capitalization down to around $12 billion. The … Read more