Month: April 2022

Reuters was first to report that Italy plans to confirm its 2022 budget deficit target at 5.6% of national output, despite coalition pressure to sharply hike borrowing as the growth outlook deteriorates. Mario Draghi’s government is preparing to slash its growth forecast for this year to 2.8% from a previous 4.7% goal made in September, amid surging […]

Reuters exclusively revealed that the European Central Bank is ready to organise a scheme for millions of Ukrainian refugees to exchange their hryvnia currency into euros if the EU gives the ECB a guarantee that would cover the bank’s risk. Almost 4 million Ukrainians have fled the Russian invasion into the EU but they face problems with exchanging […]

Reuters exclusively revealed distressed debt hedge fund Gramercy, which made a killing on Russian bonds after the 1998 crisis and has taken on Argentina and Venezuela over defaulted debt, says a bet on Russia now is too big a risk even with bonds trading at a tenth of face value. Robert Koenigsberger, whose first trade as founder […]

Reuters revealed that the Bank of Japan is likely to keep rates low despite political pressure to acknowledge that the weak currency is now a problem. Reuters sources familiar with the bank’s thinking and people close to Haruhiko Kuroda, whose decade in charge ends next April, said he is likely to protect his legacy by avoiding tweaks […]

Reuters revealed that the U.S. government began privately warning some American companies the day after Russia invaded Ukraine that Moscow could manipulate software designed by Russian cybersecurity company Kaspersky to cause harm. The classified briefings are part of Washington’s broader strategy to prepare providers of critical infrastructure for potential Russian intrusions.  The post Reuters reveals U.S. warned […]

Reuters reported exclusively that SpaceX has ended production of new Crew Dragon astronaut capsules, as Elon Musk’s space transportation company heaps resources on its next-generation spaceship program. Capping the fleet at four Crew Dragons adds more urgency to the development of the astronaut capsule’s eventual successor, Starship, SpaceX’s moon and Mars rocket.  The post SpaceX ending production […]

Reuters exclusively revealed thirty-four investors, managing more than $7 trillion in assets, have warned 17 of Europe’s largest companies, including BP and Volkswagen, that they could challenge board directors over their accounting of climate risks. The move is the latest push by investors to pressure companies and their auditors, charging them with not moving fast enough to adapt to the […]

Reuters revealed Parker-Hannifin is set to gain EU antitrust clearance for its 6.3 billion pound bid for Britain’s Meggitt after offering to sell a U.S. factory to address competition concerns. The U.S. engineering and aerospace group submitted its offer to the European Commission last month and the EU competition watchdog then sought feedback from rivals and customers. The post […]

Reuters reported exclusively that Ascent Resources LLC, one of the largest privately held U.S. natural gas producers, is preparing an initial public offering it hopes will give it a market valuation of around $6 billion. Depending on timing, it would be the first major stock market listing of a U.S. shale operator since Russia’s invasion of Ukraine […]

Reuters exclusively reported banks in Britain have warned the government that a plan to ban all Russians from holding more than 50,000 pounds in their accounts is illegal and unworkable. Banking industry sources told Reuters they feared the British proposals on Russian deposits would break equality laws, which forbid discrimination on the basis of nationality, in the […]