HELSINKI (Reuters) – Finnish-Swedish forestry company Stora Enso on Friday posted weaker-than-expected quarterly earnings but said its 2022 comparable operating profit remains on track to exceed last year’s 1.53 billion euros. The pulp, paper and cardb…
Steel maker SSAB profit beats forecast
STOCKHOLM (Reuters) – Swedish steel maker SSAB reported a bigger than expected jump in quarterly earnings on Friday on the back of strong steel prices, though it cautioned the market outlook was uncertain amid rising inflation and supply chain strains….
Global slowdown fears darken prospects for Asian factories
By Leika Kihara TOKYO (Reuters) – Worries over a global slowdown are casting a shadow over Asia’s recovery prospects with factory activity growth slowing in Japan and Australia, keeping pressure on policymakers to support their economies while tighteni…
U.S. crude ends below $95/bbl as EU tweaks Russian oil sanctions
By Arathy Somasekhar HOUSTON (Reuters) -U.S. crude prices settled below $95 a barrel for the first time since April in choppy trading on Friday after the European Union said it would allow Russian state-owned companies to ship oil to third countries un…
Russia, Ukraine to sign deal on restarting grain exports, Turkey says
By Vitalii Hnidyi and Jonathan Spicer KHARKIV, Ukraine/ISTANBUL (Reuters) – Russia and Ukraine will sign a deal on Friday to reopen Ukraine’s Black Sea ports, Turkey said, a potential breakthrough that could ease the threat of hunger facing millions ar…
Stocks gain, euro edges up after ECB rate hike
By Chuck Mikolajczak NEW YORK (Reuters) – A gauge of global stock markets rose for a fifth straight session while the euro edged up in choppy trading after the European Central Bank raised interest rates for the first time in more than a decade as it s…
Ryanair reaches 5-year deal with pilot unions in France, Spain
MADRID (Reuters) -Irish airline Ryanair said on Thursday it reached a five-year agreement with labour unions representing pilots in France and in Spain to improve work conditions. The agreements, ratified by both parties on Monday, include a return to …
Analysis-R.I.P. forward guidance: Inflation forces central banks to ditch messaging tool
By Sujata Rao and Dhara Ranasinghe LONDON (Reuters) – If the U.S. Federal Reserve killed off forward guidance in June, the European Central Bank may have just hammered the final nail in the coffin of a tool officials had long used to provide monetary p…
Uniper rescue in sight, with Germany set to take stake – sources
BERLIN (Reuters) – An agreement on a bailout for German utility Uniper is in sight, with the state set to take a stake in the company, German government and parliamentary sources said on Thursday. A deal could be announced as soon as Friday, two people…
Moody’s cuts Telecom Italia’s credit rating by one notch to ‘B1’
(Reuters) – Ratings agency Moody’s downgraded Telecom Italia’s credit rating by one notch to ‘B1’ on Thursday, citing expectations its leverage will remain high and free cash flow will stay negative over the next two to three years. Telecom Italia’s sh…