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.
BP expects to pay up to 1 bln pounds in UK taxes in 2022
BP (BP.L) said on Tuesday it expected to pay up to 1 billion pounds ($1.25 billion) in taxes in Britain on its 2022 profits, after its operating profit surged despite reporting a big writedown for exiting its Russian businesses. read more
Cryptoverse: Venture capitalists catch crypto fever
Venture capital is making a big move on crypto in 2022.
Exclusive: Nigeria buys emergency Canadian potash to replace lost Russian supply
Nigeria had to buy emergency supplies of Canadian potash in April after the country was unable to import the key fertilizer from Russia due to the impact of Western sanctions, the head of Nigeria’s sovereign investment authority NSIA said.
