EXCLUSIVE Biden sidelined global energy partners with record emergency oil release
The United States announced a record-sized release of emergency crude oil reserves in March without consulting partners in the International Energy Agency, leaving them scrambling to match with releases of their own, according to two sources familiar with the matter.
Dollar rides to two-decade highs as rates rise; euro struggles
The dollar climbed to its highest levels in two decades on Monday as a combination of rising U.S. Treasury yields and a tightening lockdown in China boosted the safe haven appeal of the greenback.
EXCLUSIVE Hyundai plans U.S. EV plant, in talks with Georgia – sources
Hyundai Motor Co (005380.KS) plans to build a new electric-vehicle manufacturing plant in the United States and has held discussions with officials in Georgia, near existing plants for the Hyundai and Kia (000270.KS) brands, people with knowledge of its plans told Reuters.
SocGen boosts first-quarter income but costs of Ukraine war rise
French lender Societe Generale (SOGN.PA) beat first-quarter earnings expectations on Thursday but booked higher provisions for loans turning bad as the economic impact of the war in Ukraine hits its customers.
Didi, Lenovo founders go private on China social media, join retreat from spotlight
The president of Chinese ride-hailing giant Didi Chuxing and her father, the founder of Lenovo (0992.HK), have ended their public presence on China’s main social media site, the latest Chinese tech leaders to retreat from the spotlight.
EU antitrust chief calls for global approach towards tech giants
Europe’s antitrust chief Margrethe Vestager, the architect of landmark rules to curb the power of U.S. tech giants, called on Thursday for a global approach towards Big Tech to prevent companies taking advantage of enforcement gaps.
Analysis: Battered bulls hope Fed pain in rearview mirror after Powell maps out hikes
Federal Reserve Chair Jerome Powell gave investors a glimmer of hope that the central bank is unlikely to become more hawkish in coming months, though few see reason for long-term optimism in the face of soaring inflation and fears of slowing growth.
Shell posts record quarterly profit, lifted by energy price surge
Shell (SHEL.L) on Thursday reported a record first-quarter profit of $9.13 billion, boosted by higher oil and gas prices, stellar refining profits and the strong performance of its trading division.
Explainer: Disconnecting Russia’s banks: Sberbank faces SWIFT removal
The European Union aims to cut off Sberbank (SBER.MM), Russia’s largest lender, from the SWIFT international payment system as Western allies seek to further isolate Moscow from financial markets over its war in Ukraine.
Shares march higher after Fed and BoE hikes; dollar regains traction
Global equity markets were still on the front foot on Thursday on relief that the biggest hike in U.S. interest rates in more than two decades hadn’t been even sharper.
