ALMATY—Russian retailers Magnit and Lenta are in talks with their suppliers and other parties about importing goods via Kazakhstan, Russia’s southern neighbor and close partner, a Kazakh official was quoted as saying on Tuesday. Rouble volatility and supply chain disruptions have hit the Russian market since President Vladimir Putin sent troops into Ukraine on Feb….
Russian Retailers in Talks to Import Goods via Kazakhstan: Report
May 4, 2022
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Business & Economycommoditieseconomic policieseconomyEuropeKazakhstanMarketsPresident Vladimir PutinRussia-Ukraine WarRussianWorld
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Russia’s Potanin Snaps up 3rd Finance Deal Amid Ukraine Turmoil
May 4, 2022
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Business & EconomyCompanieseconomic policieseconomyEuropeInternationalMarketsRussiaRussia-Ukraine WarUKUnited Card ServicesVladimir PotaninWorld
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LONDON—Russian billionaire Vladimir Potanin’s Interros group said on Monday it had bought United Card Services, part of Global Payments Inc, its third deal in three weeks as it snaps up financial assets from buyers exiting the Russian market. Global Payments confirmed it was exiting its Russian business as it released its first quarter results on…
BP Boosts Buybacks on Soaring Energy Prices After Costly Russia Exit
LONDON—BP reported its strongest operational performance in more than a decade on Tuesday on the back of rocketing oil prices that helped it step up share buybacks, even as a $24 billion writedown from exiting Russia led to a record quarterly loss. Shares in the energy firm climbed 2.8 percent by 1:11 p.m. GMT in…
Twitter Estimates Spam, Fake Accounts Comprise Less Than 5 Percent of Users: Filing
Twitter Inc. estimated in a filing on Monday that false or spam accounts represented fewer than 5 percent of its monetizable daily active users during the first quarter. The social media company had 229 million users who were served advertising in the first quarter. The disclosure came days after Tesla Inc. Chief Executive Elon Musk,…
US to Spend More Than $3 Billion on EV Battery Manufacturing: White House
May 4, 2022
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Business & EconomyCompanieseconomic policieseconomyelectric vehicleEuropeFord MotorJoe BidenMarketsRussia-Ukraine WarWorld
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WASHINGTON—The Biden administration will allocate more than $3 billion in infrastructure funding to finance the electric vehicle (EV) battery manufacturing, U.S. officials said on Monday. The funds will be allocated by the Department of Energy from the $1 trillion infrastructure bill President Joe Biden signed last year. Among the initiatives will be processing of minerals…
Musk Says He Wants to Boost Twitter Use From ‘Niche’ to Most Americans
NEW YORK—Tesla Inc Chief Executive Elon Musk said on Monday he wants to expand the reach of Twitter beyond the current “niche” until most Americans use the social media platform. Musk has signed a deal to buy Twitter for $44 billion, raising questions among employees and the public about his strategy for running the social…
Flight Cancellations Persisted After January COVID-19 Spike, Data Show
By Kelly Yamanouchi From The Atlanta Journal-Constitution Flight cancellations continue to persist for U.S. airlines since severe disruptions caused by the January COVID-19 surge and even as carriers staff up ahead of what’s expected to be a busy summer travel season, according to the latest federal data on air travel. Airlines canceled 4.5 percent of…
Woman Says Amazon.com Fired Her Because She Got ‘Long COVID’: Lawsuit
May 4, 2022
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Amazon.comBusiness & EconomyBusinesses in COVID-19CompaniesCOVIDlabor unionsLocal NewsNew YorkNY NewsRegional-Local NewsUSUS News
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NEW YORK—A former Amazon.com Inc employee sued the online retailer on Monday, saying it wrongly fired her and demanded she repay wages after she contracted “long COVID.” Brittany Hope, 29, a former brand manager for Amazon’s fashion line The Drop in Manhattan, is seeking damages for alleged violations of federal, state, and New York City…
US Trade Chief Tai Says All Tools on Table to Beat Inflation, Tariffs Not Top of List
WASHINGTON—All tools are on the table to address rising inflation, including reductions of tariffs on Chinese imports, U.S. Trade Representative Katherine Tai said on Monday, but she stressed that any policy shift needed to keep medium-term goals in mind. Such goals include building a more resilient, durable, global economy that served workers as well as…
US Shale Companies Top Wall Street Estimates, Focus on Returns
May 4, 2022
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Business & EconomyCompaniesDevon Energydividendeconomic policieseconomyEuropeMarketsRussia-Ukraine WarRussia's invasionshalestocksWorld
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U.S. shale producers Devon Energy, Diamondback Energy, and Coterra Energy on Monday reported sharp increases in profit that beat Wall Street estimates, but held production plans steady as they stressed a focus on shareholder returns. U.S. oil and gas producers are facing a windfall from higher energy prices, as Russia’s invasion of Ukraine has stoked…
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