Total and Eni have stopped payments for the contaminated oil sold to them by Russian firms and said they will only pay when compensation is agreed, trading sources said, upping the stakes in what the sources say is Russia’s worst oil supply disruption.
U.S. stocks were set to open sharply lower on Monday, as fears over the impact on major technology companies from the United States’ crackdown on China’s Huawei Technologies added to concerns about the trade war between the two counties.
U.S. and European chipmakers fell sharply on Monday amid worries the Huawei Technologies suppliers may suspend shipments to the Chinese firm due to a U.S. crackdown.
Mobile phone parts producer Lumentum Holdings Inc on Monday was the first U.S. company to confirm formally it was halting shipments to Huawei Technologies, following export restrictions put in place by the United States Department of Commerce.
Sprint Corp and T-Mobile US Inc on Monday will announce a series of changes to their $26 billion deal, while U.S. regulators are expected to announce agreement on the conditions necessary to approve the merger, sources said.
U.S. stock index futures fell on Monday, as fears over the impact on major technology companies from Washington’s crackdown on China’s Huawei Technologies added to concerns over worsening trade dispute between the world’s two biggest economies.
Coca-Cola Co said on Monday it had dropped plans to refranchise its Africa bottling business, Coca-Cola Beverages Africa (CCBA), and would instead keep its majority stake in the unit for the time being.
Mobile phone parts producer Lumentum Holdings Inc said on Monday it has discontinued all shipments to Huawei Technologies as it intends to fully comply with the recent United States Department of Commerce export restrictions.
Huawei will support its smartphones and tablets by providing security updates and services, it said, after Google barred it from updates to the Android operating system.
Russia suffered a $1 billion shortfall in export revenues in the first two weeks of May after the discovery of contaminated oil disrupted pipeline flows to Europe, a Reuters calculation showed.
U.S. President Donald Trump on Monday rejected a New York Times report that raised questions about multiple Deutsche Bank transactions involving entities controlled by him and his son-in-law Jared Kushner.
Stock markets weakened on Monday as concerns mounted about an escalating fallout from a U.S. crackdown on China’s Huawei Technologies.
Spain’s Telefonica is reviewing a U.S. order which hit Chinese telecoms giant Huawei with severe sanctions, to see if it will affect its customers, a spokeswoman for the group said on Monday.
Trading companies Vitol and Unipec are sending around 700,000 tonnes of contaminated Russian oil to Asia in an attempt to place the barrels rejected by buyers in Europe, according to trading sources and ship tracking data.
Shares in Deutsche Bank set a new low on Monday, just days before investors gather for their annual general meeting.
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