TELFS-BUCHEN, Austria—Ukrainian President Volodymyr Zelensky appealed to Group of Seven leaders for more support from allies to push Russia out of newly conquered territories, according to officials present for the video address, as the U.S. said it would provide more military aid for Ukraine and impose new sanctions against Moscow to try to turn the … Read more
Europeans are likely to see real wages fall faster than their U.S. counterparts, as Russia’s invasion of Ukraine sends inflation on a fresh surge, threatening to push the continent into recession. Until the invasion, European inflation rates looked set to remain below their U.S. equivalent, reflecting a slower economic recovery from the Covid-19 pandemic. This … Read more
BOULDER CITY, Nev.—At the lone remaining boat launch ramp here on Lake Mead, the largest reservoir in the Western U.S., officials recently put up a new sign: “Estimated Wait Time 4 Hours.” Amid a drought that scientists say is now the worst in the region in more than 1,000 years, Lake Mead is 28% full. … Read more
PARIS—French prosecutors are investigating disclosure of safety issues at a nuclear-power plant run by EDF SA, EDF 6.32% the latest setback for the electricity giant as Europe struggles with high energy prices in the wake of Russia’s invasion of Ukraine. Prosecutors in Marseille opened the investigation last month, following a complaint from a former top … Read more
Some OPEC members are exploring the idea of suspending Russia’s participation in an oil-production deal as Western sanctions and a partial European ban begin to undercut Moscow’s ability to pump more, OPEC delegates said. Exempting Russia from its oil-production targets could potentially pave the way for Saudi Arabia, the United Arab Emirates and other producers … Read more
Starbucks Corp. SBUX 0.53% is closing down its business in Russia, as the invasion of Ukraine puts an end to its 15-year presence in the country and marks the departure of another big Western corporation. The global coffee giant suspended its licensee’s Russian business March 8 in the days after the conflict erupted. Starbucks, which … Read more
Weber’s initial public offering at the New York Stock Exchange last year. The grill seller reported a loss for its latest quarter. Photo: Richard Drew/Associated Press Weber Inc. WEBR -5.18% on Monday cut its profit outlook for the second consecutive quarter and said sales would fall for the year due to global supply-chain disruptions and … Read more
McDonald ’s Corp. said it would quit Russia and sell its business there, ending more than three decades in the country over its invasion of Ukraine. The fast-food giant joins a raft of Western companies, from auto makers to oil producers, exiting Russia—after in some cases having initially paused operations—as the war in Ukraine rumbles … Read more
DUBAI—Saudi Aramco posted a record quarterly profit on Sunday, as the oil giant benefits from surging oil prices following Russia’s invasion of Ukraine. Saudi Arabian Oil Co., commonly known as Aramco, said its net income surged 82% to $39.5 billion in the first three months of 2022. Last week, it overtook Apple Inc. as the … Read more
A new forum for the U.S. and European Union to settle differences on trade and technology policy has taken on added significance following Russia’s invasion of Ukraine, with supporters positioning it as a model for broader cooperation among free-market democracies. The U.S.-EU Trade and Technology Council had its first meeting in Pittsburgh last fall, which … Read more