The European Union is proposing to sanction Russia’s oil-shipping giant Sovcomflot PJSC in a move to limit the Kremlin’s ability to finance its war against Ukraine, Bloomberg News reported on Tuesday, citing a document seen by it.
FedEx is planning to cut between 1,700 and 2,000 back-office jobs in Europe, it said in a filing on Wednesday, as the parcel delivery company struggles with weak freight demand.
The European Commission notified car makers on Wednesday that it would apply additional duties of up to 38.1% on imported Chinese electric vehicles from next month, a move likely to draw possible retaliation from China.
Paramount Global’s majority shareholder Shari Redstone has abruptly ended talks for a potential merger with David Ellison’s production company Skydance Media, effectively killing the deal that was in the works for several months.
U.S. car maker Ford said on Wednesday it plans to cut a further up to 1,600 jobs at its assembly plant in Valencia, Spain, after announcing a reduction of 1,100 staff last year.
U.S. stock index futures traded flat to marginally higher on Wednesday as investors awaited a key inflation reading and a policy announcement from the Federal Reserve as it concludes its two-day meeting.
The Federal Reserve is expected to leave interest rates unchanged on Wednesday, with new economic projections from the U.S. central bank’s policymakers likely to show fewer rate cuts this year and a delayed start to monetary policy easing.
European governments may be wary of budget Chinese electric vehicles flooding their markets but they’re also fiercely competing for a share of the manufacturing investment and jobs the new competitors bring.
Argentina’s central bank has started to put the brakes on its aggressive buying of dollars, a key push to build up reserves under new libertarian President Javier Milei, something analysts pegged to weaker-than-expected sales of grains by local farmers.
