Monday, 21 February 2022

Reuters Business: Russia's VTB reports record $4.1 bln net profit for 2021

Russia's VTB reports record $4.1 bln net profit for 2021

Russian state bank VTB on Tuesday reported a more than fourfold increase in net profit to a record 327.4 billion roubles ($4.1 billion) in 2021, rebounding from a sharp drop the year before when the coronavirus pandemic squeezed earnings.

Haiti hikes minimum wage by up to 54% following worker protests

Haiti's government on Monday hiked the minimum wage by as much as 54% following weeks of demonstrations by garment workers who say their wages are not enough to keep up with the rising cost of living.

Australia's Coles first-half profit falls 2%

Australia's second-largest supermarket chain Coles Group on Tuesday reported a 2% drop in first-half profit, as pandemic-induced costs offset earnings from consumers stocking up on essentials during Omicron-driven COVID-19 lockdowns.

Brazil central bank chief says inflation still climbing

Brazil's central bank chief Roberto Campos Neto said on Monday consumer prices continue to trend higher as core inflation speeds up despite aggressive monetary tightening by policymakers.

World stocks hit 3-week lows, oil rises on Russia-Ukraine fears

Global stocks hit three-week lows and oil rose on Monday as worries increased that Russia will invade Ukraine.

Trump's Truth Social tops downloads on Apple App Store; many waitlisted

The app may mark the former president's return to social media after he was banned from several platforms last year.

EU draft law would require firms to check suppliers for human rights, environmental ethics

The European Commission will unveil on Wednesday a proposal to make large companies operating in the European Union check that their suppliers from around the world do not use slave or child labour and that they respect environmental standards, a draft of the law showed.

Rouble sinks, stocks plunge as Russia recognises Ukraine breakaway regions

The rouble tanked on Monday, slipping past 80 against the dollar, while stocks plunged to their lowest in over a year as Russian President Vladimir Putin called for the immediate recognition of two breakaway regions in eastern Ukraine.

Mexico inflation seen on the rise again in early February

Mexican annual inflation likely accelerated in the first half of February after slowing during the past eight weeks, a Reuters poll showed Monday, reinforcing expectations that the country's central bank would continue raising rates in line with the U.S. Federal Reserve.

'Growth' stocks still not cheap, cautions JPMorgan

Tech-dominated "growth" stocks are still not cheap despite some sharp falls over the last six months, analysts at U.S. investment bank JPMorgan cautioned on Monday.

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