BUSINESS

Gucci owner Kering is bolstering its high-end eyewear division with a deal to buy U.S.-based label Maui Jim, the French luxury group said Monday.

With the Federal Reserve almost certain to hike interest rates this week for the first time in more than three years, investors will be focused on how it plans to curb a surge in inflation inflamed by the Ukraine crisis without triggering a recession.

Shareholders at four U.S. oil companies will vote in the coming quarter on proposals for the firms to meet emissions targets set out in Paris in 2015, said climate activist group Follow This.

Indian Oil Corp, the country's top refiner, bought 3 million barrels of Russian Urals from trader Vitol for May delivery, trade sources said, its first purchase of the grade since Russia invaded Ukraine on Feb.

Canada's commodity-heavy main stock index fell on Monday, extending prior session's losses, weighed down by weakness in energy and mining shares as commodities slumped on hopes for progress in Ukraine-Russia peace talks.

Major U.S. stock indexes closed mostly lower on Monday, led by a more than 2% drop in Nasdaq, as investors sold tech and big growth names ahead of this week's Federal Reserve meeting and an expected hike in interest rates.

AT&T's financial relationship with One America News is deeper than previously known and will continue even after DirecTV drops the far-right network from its satellite service next month, a new court filing shows.

Top European Union diplomats have agreed to add Chelsea football club owner Roman Abramovich to the EU list of Russian billionaires sanctioned after Moscow's invasion of Ukraine, two diplomatic sources said on Monday.

The U.S. securities regulator's move to identify Chinese firms likely to be delisted from New York for not meeting auditing requirements is pushing more fund managers to exit their holdings and dimming the prospect for new listings in the near term.

Deutsche Bank reversed course and said it would pull out of Russia completely while the London Stock Exchange suspended all its services in the country as Western governments impose sanctions over the invasion of Ukraine.

U.S. carmaker Ford on Monday unveiled plans for seven new electric models in Europe, a battery-assembly site in Germany and a nickel cell manufacturing joint venture in Turkey as part of a major electric vehicle (EV) push on the continent.

Pet collars and casual clothing are replacing takeaway doughnuts and men's two-piece suits this year as Britain's statisticians update their inflation calculations to account for pandemic trends.

Sanofi's shares slid 5% on Monday after a drug candidate to fight a common type of breast cancer failed to slow progression of the disease in a clinical trial, knocking confidence in the French drugmaker's drug development prowess.

Telecom Italia shares rose on Monday after Italy's biggest phone group said it would pursue a domestic broadband deal, while also engaging in talks with KKR over the U.S.

India may take up a Russian offer to buy crude oil and other commodities at a discount, two Indian officials said, in a sign that Delhi wants to keep its key trading partner on board despite Western attempts to isolate Moscow through sanctions.

India is considering taking up a Russian offer to buy its crude oil and other commodities at discounted prices with payment via a rupee-rouble transaction, two Indian officials said, amid tough Western sanctions on Russia over its invasion of Ukraine.

India will take "appropriate" steps to calm the rise in oil prices, triggered by Russia's invasion of Ukraine, the junior oil minister said on Monday, indicating the country could release more oil from national stocks if required.

European stocks rose on Monday as investors pinned their hopes on diplomatic efforts by Ukraine and Russia to end weeks-long conflict, while shares in Volkswagen surged after the German carmaker doubled its operating profit.

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A global food crisis looms unless the war in Ukraine is stopped because fertiliser prices are soaring so fast that many farmers can no longer afford soil nutrients, Russian fertiliser and coal billionaire Andrei Melnichenko said on Monday.

A global food crisis looms unless the war in Ukraine is stopped because fertiliser prices are soaring so fast that many farmers can no longer afford soil nutrients, Russia's coal and fertiliser king Andrei Melnichenko said on Monday.

Chinese cities and factories lock down as outbreak spreads

Russian authorities, facing potential economic calamity as Western sanctions take hold, have threatened foreign companies hoping to withdraw from the country with arrests and asset seizures, the Wall Street Journal reported Sunday.

Wall Street slumps as oil drops, Europe gains

China's efforts to curb its largest COVID-19 outbreak in two years has forced companies from Apple supplier Foxconn to automakers Toyota and Volkswagen to suspend some operations, raising concerns over supply chain disruptions.

Apple suppliers Foxconn and Unimicron Technology Corp said on Monday they have suspended operations in the Chinese city of Shenzhen, after the tech hub imposed strict measures to stem a COVID-19 outbreak.

Oil prices fell more than 5% on Monday to the lowest in nearly two weeks amid hopes for progress toward a diplomatic end to Russia's invasion of Ukraine - a development that would boost global supplies - while a pandemic-linked travel ban in China cast doubt on demand.

Oil prices fell by around $5 a barrel on Monday as investors pinned hopes on diplomatic efforts by Ukraine and Russia to end their conflict, while a surge in COVID-19 cases in China spooked the markets.

Oil prices shed as much as $4 a barrel on Monday, extending last week's decline as diplomatic efforts to end the war in Ukraine geared up and markets braced for higher U.S.