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☆ Ukraine war live updates: U.S. Senate to vote on foreign aid bill; Ukraine says Russia buying Starlink terminals through 'Arab countries'
▼ + stars: | 2024-02-13 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Speaker of the House Mike Johnson (R-LA) makes a statement to the press on February 06, 2024 in Washington, DC. A procedural vote passed in the Senate late on Monday, advancing the bill to the final hurdle in the Democrat-controlled legislature, where it is expected to pass. The contentious security aid bill has been stuck in political limbo for months. The package includes a provision of $61 billion for Ukraine, which Ukrainian officials say is sorely needed for the war effort against Russia. The Senate vote could be held as early as 7 a.m. EST on Tuesday, aides told Reuters.

Persons: Mike Johnson, Joe Biden, — Jenni Reid Organizations: U.S, Senate, Democrat, Republican, Representatives, Russia, Republicans, Reuters Locations: Washington ,, Ukraine, Israel, Taiwan, House

☆ Ukraine war live updates: Ukraine accuses Russia of 'playing' with prisoners' lives amid suspicions over POW plane crash
▼ + stars: | 2024-01-25 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

Ukraine on Wednesday suggested Russia failed to inform it of the need to create a safe airspace after a military aircraft was downed, reportedly while carrying 65 Ukrainian prisoners of war ahead of an exchange. Earlier in the day, Russia accused Ukraine of downing the aircraft, and said 65 Ukrainian prisoners of war and nine Russians were killed. Ukraine confirmed an exchange of prisoners was scheduled for Wednesday but one did not take place. It also said it was not told about the number of vehicles, routes and forms of delivery of the prisoners. "This may indicate deliberate actions by Russia aimed at creating a threat to the life and safety of prisoners," it alleged.

Persons: — Jenni Reid Organizations: Wednesday Locations: Ukraine, Russia, Russian, Ukrainian, Belgorod, Russia's Belgorod, Ukrainian Kharkiv

☆ Davos live updates: Iran sends warning to the U.S.; Sam Altman opens up about firing
▼ + stars: | 2024-01-17 | by ( Lucy Handley | ) www.cnbc.com time to read: +1 min

The European Union's investigation into state subsidies given to Chinese electric vehicle makers is progressing and should deliver its results within nine to 11 months, Valdis Dombrovskis, executive vice president of the European Commission, told CNBC on Wednesday. The probe was launched by the European Union in September to address alleged market distortion from the price of Chinese EVs being kept artificially low. "What we are assessing when launching this investigation, whether there is a threat of injury for EU industry," Dombrovskis said. Dombrovskis also discussed the need for the EU to address its trade deficit with China, as well as its broader long-term competitiveness, and said the institution continued to have concerns about the U.S. Inflation Reduction Act. — Jenni Reid

Persons: Valdis Dombrovskis, Dombrovskis, — Jenni Reid Organizations: European Commission, CNBC, European Union, EU Locations: China

☆ Davos live updates: Global leaders discuss the impact of high interest rates and the new normal
▼ + stars: | 2024-01-16 | by ( Lucy Handley | ) www.cnbc.com time to read: 1 min

French central bank chief François Villeroy de Galhau stressed that it was not possible to say in which season the European Central Bank may cut interest rates this year. But...we are not calendar driven, we are data-driven," he said during a CNBC-moderated panel event at the World Economic Forum in Davos, Switzerland. On the path of inflation, he added: "It's too early to declare victory … the job is not yet done. That said, interest rate tightening has been quite successful so far, more successful than we thought even at Davos one year ago." "What we can see on both sides of the Atlantic is something like a soft landing so far."

Persons: François Villeroy, Galhau, — Jenni Reid Organizations: European Central Bank, CNBC, Economic Locations: Davos, Switzerland

☆ European markets head for mixed open as sentiment falters
▼ + stars: | 2023-11-21 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

Jeremy Hunt on the second day of the Conservative Party Conference on Oct. 2, 2023, in Manchester, England. U.K. public sector net borrowing excluding banks was £14.9 billion ($18.68 billion) in October, the second-highest level of borrowing for the month since records began in 1993. It was also higher than consensus forecasts and a March forecast by the independent Office for Budget Responsibility of £13.7 billion. Tax receipts were £2.7 billion higher year on year at £57.9 billion. It comes ahead of a government budget update Wednesday in which Finance Minister Jeremy Hunt may announce tax cuts as he seeks to prioritize growth, according to the BBC.

Persons: Jeremy Hunt, Ruth Gregory, Hunt, Gregory said, Gregory, Lindsay James, — Jenni Reid Organizations: Conservative Party Conference, Capital Economics, Quilter Investors Locations: Manchester, England

Customers with shopping bags after visiting a Primark clothing store on Oxford Street in London, UK, on Monday, Nov. 6, 2023. U.K. retail sales rose by 2.5% in October, higher than the 1.6% growth of a year ago but below the three-month and twelve-month averages of 3.1% and 4.2%, respectively. The British Retail Consortium, which published the figures, said sales likely declined by volume because of the impact of inflation. Paul Martin, U.K. head of retail at KPMG, said sales "remained weak." As a result, the strong demand that has kept some retailers afloat over the last 18 months is now falling away."

Persons: Paul Martin, Martin, — Jenni Reid Organizations: Oxford, British Retail Consortium, Shoppers, KPMG Locations: London

☆ Ukraine war live updates: Lethal attacks in Zaporizhzhia while Xi praises China-Russia relations
▼ + stars: | 2023-10-18 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

Ukraine fired long-range ATACMS missiles for the first time after they were delivered by the U.S., Ukraine's Volodymyr Zelenskyy said in his nightly address Tuesday. "Today, special thanks to the United States. They are executed very accurately, ATACMS have proven themselves," he said, according to a Google translation of a transcript. The Wall Street Journal reported the news earlier Tuesday, citing people familiar with the matter. Ukraine has repeatedly said ATACMS are important to advance its difficult counteroffensive in Russian-occupied areas.

Persons: Ukraine's Volodymyr Zelenskyy, Biden, Oleksiy Goncharenko, — Jenni Reid Organizations: Street Journal, U.S . State Department, CNBC Locations: Ukraine, U.S, United States, Berdyansk

U.K. retail sales increased by 2.7% in September, up from 2.2% growth the previous year but below the 12-month average growth of 4.2%, according to figures from the British Retail Consortium. Food sales were up 7.4% as non-food sales fell 1.2%. "Sales growth in September slowed as the high cost of living continues to bear down on households," said Helen Dickinson, chief executive officer of the BRC. Dickinson said growth had been artificially boosted by high inflation over the last two years as sales revenues increased even as sales volumes decreased. — Jenni Reid

Persons: Helen Dickinson, Dickinson, Paul Martin, — Jenni Reid Organizations: British Retail Consortium, KPMG

☆ European markets open higher after U.S. Treasury yields retreat
▼ + stars: | 2023-10-05 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

French train manufacturer Alstom failed to open Thursday as trading of its shares was suspended. Shares were set to decline around 35%, according to LSEG data cited by Reuters. In an update after the market close on Wednesday, Alstom released unaudited half-year results showing its free cash flow had fallen from negative 45 million euros ($47 million) to negative 1.15 billion euros, and is now expected to be in a range of negative 500-750 million euros for the full year, from a prior forecast of "significantly positive." It attributed the performance to a "steep acceleration of the production ramp-up," a delay to a U.K. project, and a fall in downpayments from the prior year. — Jenni Reid

Persons: — Jenni Reid Organizations: Alstom, Reuters Locations: downpayments

☆ Ukraine war live updates: Ukraine's Zelenskyy set for awkward encounter with Russians at UN; China urged to pressure Moscow
▼ + stars: | 2023-09-19 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

Ukraine intends to sue Poland, Hungary and Slovakia over their restrictions on Ukrainian agricultural imports, officials said. Ukrainian Trade Representative Taras Kachka told Politico in an interview it was "important to prove that these actions are legally wrong," and that an appeal would be made through the World Trade Organization. Poland, Hungary and Slovakia on Friday announced import curbs after European Commission-led restrictions on Ukrainian imports into the countries — as well as Romania and Bulgaria — expired. The EU deal allowed products to transit via the countries but required them to be sold elsewhere. Ukraine has agreed to introduce measures intended to prevent a "surge" in EU imports, however the details have not been specified.

Persons: Taras Kachka, Viktor Orban, Saturday, Ľudovít Ódor, — Jenni Reid Organizations: Ukrainian, Politico, World Trade Organization, Reuters, Friday, Commission, EU, Slovakia's Locations: Ukraine, Poland, Hungary, Slovakia, Ukrainian, Romania, Bulgaria, Russia, Africa

U.K. gross domestic profit fell by 0.5% in July, below the 0.2% contraction forecast in a Reuters poll of economists. The economy put in a better-than-expected performance for the second quarter as a whole, with the ONS reiterating its reading of 0.2% growth. It is the latest sign of economic strain amid higher interest rates. On Tuesday, figures showed U.K. mortgages in arrears jumped to a seven-year high in the three months to June. Dales highlighted strikes and unusually wet weather as drags on certain sectors, but said output declined more broadly, suggesting widespread weakness.

Persons: Paul Dales, — Jenni Reid Organizations: National Statistics, Capital Economics, Bank of England

☆ European stocks open higher as positive momentum continues
▼ + stars: | 2023-09-12 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

Paper and packaging businesses Smurfit Kappa and WestRock on Tuesday announced they had agreed to combine. The companies will form Smurfit WestRock, run through a holding company incorporated and domiciled in Ireland, with global headquarters in Dublin, and North and South American operations headquartered in Atlanta, Georgia. It will be led by CEO Tony Smurfit. Shareholders of U.S.-based WestRock will receive one Smurfit WestRock share and $5 cash, equivalent to $43.51 per share. The merger is expected to be completed in the second quarter of 2024, subject to shareholder and regulatory approval.

Persons: Tony Smurfit, Kappa, — Jenni Reid Organizations: Kappa, Tuesday, U.S Locations: Ireland, Dublin, North, American, Atlanta , Georgia

Fresh data on Thursday reinforced the extent of the U.K.'s house price slide this summer, with August prices down by 1.9% on the previous month, the steepest decline since November. The figures are from mortgage lender Halifax and follow prior surveys showing a sharp slowdown from Zoopla and Rightmove. House prices were 4.6% lower year-on-year, the biggest drop since 2009, largely due to the record high property prices seen in summer 2022 — though the average price is still £40,000 ($49,992) above its pre-pandemic level. "It's fair to say that house prices have proven more resilient than expected so far this year, despite higher interest rates weighing on buyer demand," said Kim Kinnaird, director at Halifax Mortgages. "However, there is always a lag-effect where rate increases are concerned, and we may now be seeing a greater impact from higher mortgage costs flowing through to house prices."

Persons: Kim Kinnaird, — Jenni Reid Organizations: Halifax Locations: Halifax

☆ Ukraine war live updates: Russian strike on hotel kills 1; no injuries reported after debris hits Kyiv children’s hospital
▼ + stars: | 2023-08-11 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Foreign companies that have remained in Russia following its full-scale invasion of Ukraine will be supported by authorities in the country, a top official said in an interview with state news agency RIA published Friday. "I would like to emphasize that companies that are still interested in conscientiously continuing their work in our country and comply with Russian legislation are not in danger. Moreover, they can count on the support of the Russian authorities and the creation of favorable conditions for business development in our market," Birichevsky said. The company also confirmed it would comply with legislation that could see its employees in Russia conscripted into the war. Groups including the B4Ukraine Coalition as well as Ukrainian authorities have heavily criticized companies that have chosen to remain in Russia.

Persons: Dmitry Birichevsky, conscientiously, Birichevsky, — Jenni Reid Organizations: CNBC, EU, Unilever, B4Ukraine Coalition Locations: Russia, Ukraine, Russian

☆ Ukraine war live updates: Russia digitizes draft system to target dodgers; World Bank announces $200 million for Ukraine repairs
▼ + stars: | 2023-04-13 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

The European Commissioner for the economy, Paolo Gentiloni, has hailed the EU's swift transition away from its dependency on Russian gas and said next winter will be less challenging. "We were expecting a terrible winter, a winter of recession and problems with energy supplies, blackouts," he told CNBC's Joumanna Bercetche in Washington, D.C. on Wednesday. "We didn't have recession and we were able to go out from dependency from Russian gas in eight months. He said the EU would be refiling storage from the end of April without Russian gas and said it was important to diversify pipelines, noting increased Chinese demand following its lockdown reopening may bring liquefied gas prices up. "More optimistically, the big, big challenge was last winter, next winter will also be challenging but we already know we were able to do something amazing," Gentiloni said.

☆ Helicopter crash near Kyiv kills Ukraine's interior minister and at least 17 others
▼ + stars: | 2023-01-18 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

Former US Secretary of State Henry Kissinger attends a luncheon at the US State Department in Washington, DC, on December 1, 2022. Former U.S. Secretary of State Henry Kissinger on Tuesday said Russia must be given the opportunity to one day rejoin the international system following any peace deal in Ukraine and dialogue with the country must be ongoing. "This may seem very hollow to nations that have been under Russian pressure for much of the Cold War period," Kissinger told the World Economic Forum in Davos, Switzerland, via video link. However, he said it was important to avoid an escalation of conflict between Russia and the West as a result of it feeling the war had become "against Russia itself." He also expressed admiration for Ukrainian President Volodymyr Zelenskyy and the "heroic conduct of the Ukrainian people."

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