Europeans back strong Ukraine army, differ on future ‘reassurance force’
PARIS -European leaders vowed on Thursday to strengthen Kyiv’s army to ensure it was the cornerstone of future security in Ukraine, while France and Britain tried to expand support for a planned foreign “reassurance force” in the event of a…
Rescuers dig for missing U.S. soldiers’ vehicle in Lithuania
VILNIUS -Rescuers in Lithuania were digging on Thursday into a peat bog in a military training area to recover the vehicle of four U.S. soldiers missing for two days. The soldiers in the M88 Hercules armoured recovery vehicle were on…
Trump withdraws Stefanik as his pick for United Nations envoy
WASHINGTON -U.S. President Donald Trump said on Thursday he had withdrawn his pick to be ambassador to the United Nations because the Republicans need to maintain their slim majority in the House of Representatives to advance his “America First” agenda….
NYSE-parent ICE plans to launch battery metals derivatives this year
LAUSANNE – Intercontinental Exchange plans to launch derivatives in battery metals cobalt and lithium spodumene in London later this year, an executive said on Tuesday. “Our customer base is looking to us to provide products to hedge. Our role is…
ProSieben shares plunge as Berlusconi-backed MFE bids low
MILAN/BERLIN -Shares in ProSiebenSat.1 fell sharply after the TV group controlled by Italy’s Berlusconi family made a low-ball bid to other investors in the German media group as part of a plan to strengthen its grip on the company. The…
Brazil’s central bank signals need for higher rates for longer
BRASILIA -The Brazilian central bank’s economic policy director Diogo Guillen said on Thursday that when inflation expectations are unanchored, as they are now, interest rates need to be higher for longer. Guillen and central bank chief Gabriel Galipolo both stressed…
IMF assessing Trump’s tariff plans, does not see US recession
WASHINGTON -The International Monetary Fund is continuing to assess the impact of President Donald Trump’s tariff plans, including his new 25% auto tariffs, but the global lender’s baseline forecasts do not envision a U.S. recession, IMF spokesperson Julie Kozack said…
Mexico working for preferential treatment in face of US auto tariffs
MEXICO CITY – Mexico is working to carve out an exemption for its critical autos industry after Washington announced tariffs on imported vehicles, the economy minister said on Thursday. U.S. President Donald Trump on Wednesday announced 25% tariffs on auto…
European auto suppliers body calls for solutions, not tariffs
PARIS – The European association of automotive suppliers (CLEPA) on Thursday called on policymakers in Europe to prioritise finding solutions over trade barriers after U.S. President Donald Trump announced 25% tariffs on foreign-made vehicles. “Tariffs of this scale will disrupt…
Factbox-How investors buy gold and what drives the market
Gold prices rose to a fresh all-time high on Thursday, bolstered by safe-haven inflows following U.S. President Donald Trump’s announcement of new auto tariffs. Bullion prices touched a record high of $3,057.78 per ounce to mark a gain of over…
UK in talks over US car tariffs, could look at Tesla subsidies, Reeves says
LONDON -Britain is working intensely with Washington to secure an exemption from U.S. auto tariffs and could review subsidies enjoyed by Elon Musk’s Tesla to better support its industry, finance minister Rachel Reeves said on Thursday. Reeves said Britain should…
Philip Morris’ heated tobacco device IQOS goes on sale in Texas
LONDON -Philip Morris International began selling its IQOS heated tobacco device in Austin, Texas on Thursday for $60 a piece, an executive told Reuters, kicking off efforts by the world’s largest cigarette maker to build a market for its flagship…
Stellantis’ Elkann concerned over car prices after U.S. tariffs
MILAN – John Elkann, the chairman of Stellantis, voiced concerns on Thursday over the impact of 25% U.S. tariffs imposed on the carmaking sector on the cost of vehicles and demand. Speaking to analysts on a conference call, Elkann underlined…
Exclusive-Trump tariff threats prompt some drugmakers to expedite shipments to US
NEW YORK/LONDON/LOS ANGELES -Some drugmakers are taking the unusual step of sending more medicines by air to the U.S., two executives and two logistics firms said amid fears President Donald Trump’s April 2 tariffs announcement could include products made in…
Car-carrying ships send added cargo to US ahead of looming tariffs
BERLIN- Car-carrying ships have sent more cargo from Europe and China, Japan and Korea to the United States in the first months of the year than last year, shipping data showed, in a sign of companies front-loading shipments ahead of…
Canada’s prime minister says nothing off the table in response to Trump’s tariffs
OTTAWA -Canada will wait until next week to strike back against the latest U.S. threat of tariffs and nothing is off the table regarding possible countermeasures, Prime Minister Mark Carney said on Thursday. Carney, warning Canadians that tough times lay…
Exclusive-US pauses financial contributions to WTO, trade sources say
GENEVA -The United States has paused contributions to the World Trade Organization, three trade sources told Reuters, as U.S. President Donald Trump’s administration ramps up efforts to cut government spending. The Trump administration is retreating from global institutions it sees…
Russia remands billionaire Moshkovich in custody for two months
MOSCOW – Russian farming billionaire Vadim Moshkovich was remanded in custody for two months by a Moscow court on Thursday after his detention on suspicion of large-scale fraud, the highest-profile arrest in years of a major businessman in Russia. Moshkovich,…
Sudan’s army shells Omdurman in push to oust RSF from capital region
DUBAI – The Sudanese army shelled parts of Khartoum’s twin city of Omdurman from early morning on Thursday, residents said, after declaring victory over their Rapid Support Forces rivals in a two-year battle for the capital. The army ousted the…
Egyptian security delegation heads to Qatar for Gaza ceasefire talks
CAIRO -A security delegation from Egypt, one of the mediators in Gaza negotiations, has headed to Qatar for talks on releasing hostages, admitting aid into the enclave and moving towards a second phase of a ceasefire, state-affiliated Al Qahera News…