IBT Staff Reporter

Citizens in European Union countries may be able to sue their governments for financial compensation if illegal levels of air pollution damage their health, an adviser to Europe's top court said on Thursday.

Germany took steps to ramp up liquefied natural gas (LNG) imports on Thursday as it moves away from piped Russian supply, renting four floating storage and regasification units (FSRUs) and choosing the North Sea port of Wilhelmshaven as the first handling hub.

British energy giant Shell on Thursday logged soaring first-quarter net profit as surging oil prices offset a sizeable charge linked to its Russia exit.

Japan's Prime Minister Fumio Kishida said on Thursday that it would use nuclear reactors to help reduce its own and other countries' dependence on Russian energy.

Turkey inflation spirals to nearly 70 percent

The European Union aims to cut off Sberbank, Russia's largest lender, from the SWIFT international payment system as Western allies seek to further isolate Moscow from financial markets over its war in Ukraine.

The Canadian dollar will claw back its recent decline over the coming year, as elevated oil prices bolster Canada's trade surplus and the central bank potentially hikes interest rates just as much as the U.S.

Asian equities saw massive foreign capital outflows in April on expectations of a hawkish policy by the U.S.

Italian luxury group Moncler said on Thursday it would open, refurbish or relocate 200 stores in the next three years, mostly in Asia, and raise online sales of its eponymous brand known for puffer jackets to 25% of total revenue.

Italian luxury group Moncler said on Thursday it would open, refurbish or relocate 200 stores in the next three years, mostly in Asia, and diversify into shoes and clothes for warmer weather.

Turkey's annual inflation jumped to a two-decade high of 69.97% in April, according to data on Thursday, fuelled by the Russia-Ukraine conflict and rising energy and commodity prices after last year's lira crash.

Millions in Beijing urged to work from home to fight Covid

European stocks fell for the second straight session on Thursday, with most major sectors handing back earlier gains made after less hawkish comments from the Federal Reserve.

ArcelorMittal reported higher-than-expected core profit in the first quarter on Thursday, but said it now forecast a slight contraction in global steel demand this year, with a sharp decline in the former Soviet Union countries.

Swiss Guard tailor stitches papal defenders' pantaloons

The dollar will retain most of its recent gains for at least another six months, according to a Reuters poll of FX strategists who for years mostly held the view the greenback would weaken.

Revenue for carmaker Stellantis rose 12% in the first three months of the year, supported by strong pricing and the type of vehicles sold, offsetting the impact of the semiconductor shortage on volumes.

Revenue for carmaker Stellantis rose 12% in the first three months of the year, beating market expectations as strong pricing and the type of vehicles sold helped offset the impact of the semiconductor shortage on volumes.

Stellantis is not considering splitting its electric vehicle (EV) business from its legacy combustion engine operation, its finance chief said on Thursday, as the carmaker presented above-expectation revenue data for the first quarter.

Shell reported on Thursday a record first-quarter profit of $9.13 billion, boosted by higher oil and gas prices, stellar refining profits and the strong performance of its trading division.

Shell on Thursday reported a record first-quarter profit of $9.13 billion, boosted by higher oil and gas prices, stellar refining profits and the strong performance of its trading division.

Beijing returned to work on Thursday after a five-day Labour Day holiday with China's capital on high COVID alert as it tries to eradicate an outbreak it has managed to limit to dozens of new cases a day for about two weeks.

Beijing returned to work on Thursday after a five-day Labour Day holiday devoid of the usual trips across the country or lavish family dinners, as China's capital tried to eradicate a COVID outbreak of dozens of new cases a day.

Beijing residents tentatively returned to work on Thursday after a muted five-day Labour Day holiday devoid of the usual trips across the country or lavish family dinners, as China pledged to fight any criticism of its uncompromising "zero-COVID" policy.

UniCredit cheered investors by saying it would soon start a 1.6 billion euro ($1.7 billion) share buyback put at risk by the Ukraine war, even as it set aside almost as much to cover the cost of quitting Russia.

German speciality chemicals maker Lanxess on Thursday said a potential embargo on Russian gas would weigh on its production and core profit this year, after releasing upbeat guidance for the current quarter.

Credit Suisse froze 10.4 billion Swiss francs ($10.63 billion) of wealthy clients' assets in the first quarter under sanctions imposed in connection with Russia's invasion of Ukraine, the bank's financial report showed on Thursday.

Tucked behind Doha's $300-million Lusail Boulevard, where construction workers are toiling to transform desert into a Champs-Elysees-inspired commercial thoroughfare before the 2022 soccer World Cup, sits a sole convenience store.

Before travelling to Moscow last week, U.N. Secretary-General Antonio Guterres stopped over in Ankara to meet Tayyip Erdogan and praise the Turkish leader's diplomatic efforts to end the war in Ukraine.