Category: Limit

Russia’s Sberbank Says Sanctions Limiting Some Forex Transfers in Russia and Abroad

Russia’s largest lender Sberbank on Friday said sanctions on its operations meant its customers would be unable to transfer funds in certain foreign currencies to accounts at other banks, both in Russia and abroad. Unprecedented Western sanctions have hit the heart of Russia’s financial system over events in Ukraine and Sberbank was among the companies…


Volkswagen’s Skoda Limits Some Output Due to Ukraine, Production in Russia Still Running

PRAGUE—Czech carmaker Skoda Auto, part of Volkswagen, will limit some production at its domestic plants due to supply shortages after Russia’s invasion of Ukraine, while it said its Russian operations were still running. “Due to the current situation in Ukraine, Skoda Auto is facing critical supply shortages of parts from several local suppliers that have…


Airlines to Cut International Passenger Flights to and From China for New Season

BEIJING—China will allow 408 scheduled international passenger flights to and from the country per week in the winter season ending in March next year, down from 644 in the summer season, China’s aviation regulator said on Friday. That is down 21.1 percent from a year ago when international travel remained heavily depressed due to the…


Analysis: Clashes Over Taxes, Debt Limit Challenge Rally in US Stocks

NEW YORK—Investors are ramping up their focus on Washington, as the twin prospects of a tax hike and a potentially prolonged fight over raising the debt ceiling loom over a rally in U.S. stocks. Democrats in the U.S. House of Representatives on Monday proposed raising the top tax rate on corporations to 26.5 percent from…


Victim of Tesla Crash in Texas Had Alcohol Level Exceeding Legal Limit

SAN FRANCISCO—One of the two victims of a fatal crash involving a Tesla car in Texas had a blood-alcohol level that exceeded the legal driving limit, according to an autopsy report. No one was found in the driver’s seat in the April accident where a Model S caught fire after hitting a tree, killing the…


Oil Jumps 2 Percent, Hits Highest in Year as Producers Limit Supply

NEW YORK—Oil prices rose more than 2 percent on Tuesday, reaching their highest in 12 months after major producers showed they were reining in output roughly in line with their commitments. The U.S. and global benchmarks rallied as optimism about more U.S. economic stimulus added to market bullishness from supply cuts. Brent crude was up…