Stellantis to Suspend Operations at Russian Plant Due to Logistical Issues

2 weeks, 1 day ago

Sanctioned Russian LNG Ship Fails Four-Month Quest for Buyer

A vessel carrying a sanctioned shipment of Russian liquefied natural gas appears to be offloading the fuel into storage in the nation’s far east, having failed to find a buyer willing to circumvent US restrictions despite a four-month, across-the-world journey. The Pioneer tanker, carrying a cargo from Russia’s Arctic LNG 2 facility, docked next to the Koryak floating storage unit …

Russia Ship Lng Pioneer Arctic

2 weeks, 1 day ago

Russia’s domestic LPG prices halve in December following EU embargo on exports amid Ukraine war

Live Mint

Domestic prices of liquefied petroleum gas in Russia halved in December from the previous month due to an influx of fuel, exports of which have been curbed by European sanctions. According to calculations by news agency Reuters, the European Union sanctions against Russia's LPG took effect on December 20. According to Reuters calculations based on local commodity exchange, a sharp …

Ukraine Russia Exports Russian Reuters Lpg

3 weeks, 2 days ago

Stellantis pledges invest $2.1 million in Italian production in 2025 during talks with government

Associated Press

MILAN — Carmaker Stellantis will invest 2 billion euros in Italian production next year and spend another 6 billion euros in the supply chain, the head of European operations told a government panel on Tuesday. Stellantis European chief Jean-Philippe Imparato told the economic, labor and economic development ministers that Turin would become the headquarters of the carmakers’ European operations from …

Italy Italian European Stellantis Turin Imparato

1 month, 1 week ago

Stellantis CEO Carlos Tavares steps down as carmaker continues struggle with slumping sales

Associated Press

NEW YORK — Stellantis CEO Carlos Tavares is stepping down after nearly four years in the top spot of the automaker, which owns car brands like Jeep, Citroën and Ram, amid an ongoing struggle with slumping sales. Stellantis noted Sunday that the process of finding a new, permanent CEO is “well under way.” In the meantime, the company says a …

Company North America Ceo Stellantis Uaw Tavares Step

2 months, 3 weeks ago

Italian autoworkers go on strike, as troubled Stellantis faces pressure over production plans

The Independent

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The strike, called by the sector’s three main unions, …

Italian Stellantis

3 months, 4 weeks ago

Stellantis to invest $406 million at 3 factories, a step toward meeting commitments in UAW contract

Associated Press

DETROIT — Jeep and Ram maker Stellantis will spend $406 million retooling three Michigan factories so they can build electric vehicles or battery parts to support a strategy of making vehicles powered by both gasoline and batteries. With its investment announcement Wednesday, the company is taking a step toward meeting some commitments that it agreed to in a new contract …

Contract Battery Union Detroit Michigan Company Million

5 months, 1 week ago

To cut costs and keep vehicle prices down, Stellantis makes buyout offers to US white-collar workers

Associated Press

DETROIT — Jeep and Ram maker Stellantis says it will offer buyout packages to many of its U.S. white-collar workers just five days after the company’s CEO said the auto industry is in the middle of a significant storm. The company said in an email to employees that it will provide severance pay based on years of service, as well …

Offers Workers Company Stellantis Makes Salaried Workers

5 months, 2 weeks ago

Carmaker Stellantis pledges to tackle problems in North America as profits plunge

Associated Press

MILAN — Stellantis CEO Carlos Tavares pledged action to tackle problems in North America and elsewhere Thursday after reporting a plunge in first-half earnings. U.S.-European automaker Stellantis reported net profits down by half in the first half of the year due largely to lower sales and restructuring costs. Tavares acknowledged that the performance “fell short of our expectations, reflecting both …

North America Stellantis Billion Euros Tavares

5 months, 3 weeks ago

Italy to woo Chinese carmakers with local marques

China Daily

The logo of Stellantis is seen at the main entrance of FCA Mirafiori plant in Turin, Italy, January 18, 2021. The Italian government is mulling over taking over defunct auto brands owned by Stellantis and offering them to Chinese companies to attract them to set up factories in the European country, according to Reuters. Once under government control, they could …

Italy Italian Reuters Stellantis Fiat Turin Chinese Automaker

5 months, 3 weeks ago

Italy to woo Chinese carmakers with local marques

China Daily

The logo of Stellantis is seen at the main entrance of FCA Mirafiori plant in Turin, Italy, January 18, 2021. The Italian government is mulling over taking over defunct auto brands owned by Stellantis and offering them to Chinese companies to attract them to set up factories in the European country, according to Reuters. Once under government control, they could …

Italy Italian Reuters Stellantis Fiat Chinese Carmakers Turin

8 months, 2 weeks ago

Parallel economy: How Russia is defying the West’s boycott

Al Jazeera

Margarita, a manager of a bar in Moscow, said the exit of alcohol brands such as Pernod Ricard and Brown-Forman from Russia had hurt her business. “It’s sad, but we continue working.” For many Russians who spoke to Al Jazeera about their experiences since the invasion, the corporate exodus has been tolerable. “Yes, it is less convenient, you cannot try …

Russia Moscow Brands Margarita

9 months, 2 weeks ago

Stellantis layoffs: This company fired 400 employees on call: ‘Mass firing of everybody that joined’

Hindustan Times

Stellantis layoffs: Italian-American automaker Stellantis removed employyes from over 400 positions in its engineering, software and technology divisions in the US, Fortune magazine reported. To ensure everyone can effectively participate we have decided to implement a mandatory remote work day.” Stellantis layoffs: The logo of Stellantis is seen on the company's building in Velizy-Villacoublay near Paris, France. As per the …

Company Stellantis Layoffs Stellantis Layoffs Told Employees

9 months, 2 weeks ago

Stellantis lays off about 400 salaried workers as automakers continue electric vehicle transition

Associated Press

DETROIT — Jeep maker Stellantis is laying off about 400 white-collar workers in the U.S. as it deals with the transition from combustion engines to electric vehicles. Last year Stellantis offered buyout and early retirement packages to about 6,400 nonunion salaried workers, but it has not said how many took the offers. But during contentious contract talks last year with …

Vehicles Workers Electric Vehicles Company Chinese Vehicle Electric

9 months, 2 weeks ago

Stellantis lays off about 400 salaried workers to handle uncertainty in electric vehicle transition

The Independent

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Jeep maker Stellantis is …

Vehicles Workers Electric Vehicles Company Chinese Vehicle Electric

10 months, 4 weeks ago

Elon Musk denies selling Starlink to Russia after Ukraine claims use in war

Al Jazeera

Moscow says SpaceX’s internet service ‘cannot be officially used here in any way’. Elon Musk has denied selling his Starlink internet service to Russia after Ukraine claimed the terminals were being used by Russian troops on the front lines of the war. “To the best of our knowledge, no Starlinks have been sold directly or indirectly to Russia.” Moscow also …

Ukraine Russia Musk Russian Starlink Spacex Starlink Terminals

11 months ago

How IKEA is trying to stop Russian copycats during Putin’s war

The Independent

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy IKEA has extended its trademark …

Ukraine Russia Russian Starbucks Ikea Inter Ikea

1 year, 4 months ago

Carlsberg loses contact with Russian employees after Kremlin asset seizures

The Telegraph

Carlsberg has lost contact with employees in Russia after its brewery was seized by the Kremlin, the drinks giant has said. Cees ‘t Hart, Carlsberg’s chief executive, said on Tuesday that the Danish company was shocked by Russia’s decision to take control of its subsidiary Baltika Breweries last month. Mr ‘t Hart said it had “no indication” why the Russian …

Business Russia Putin Russian Hart Carlsberg Loses Contact

1 year, 6 months ago

Russia to continue work in CAR, Wagner business separate: Kremlin

Al Jazeera

The fate of Wagner mercenaries at home and in parts of Africa is uncertain after its abortive mutiny in Russia on Saturday. Russian advisers will continue working with the forces of the Central African Republic, but the operations there of the Wagner Group are the private military contractor’s own, separate business, the Kremlin says. This week, Russian Foreign Minister Sergey …

Russia Car Russian Kremlin Wagner

1 year, 7 months ago

Companies are finding it’s not so simple to leave Russia. Some are quietly staying put

Associated Press

When Russia invaded Ukraine, global companies were quick to respond, some announcing they would get out of Russia immediately, others curtailing imports or new investment. Companies are lost in “a Bermuda Triangle between EU sanctions, U.S. sanctions and Russia sanctions,” said Michael Harms, executive director of the German Eastern Business Association. In a rare, frank explanation, Steffen Greubel, CEO of …

Business War Russia Sanctions Germany Companies Company

1 year, 7 months ago

Which companies are leaving Russia and which are staying? Here's a look

The Independent

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Here's a look at some of the Western companies …

Company Russian Business

1 year, 7 months ago

Companies find it's not so simple to leave Russia; some quietly stay put

The Independent

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Companies are lost in “a …

War Sanctions Germany Companies Company Western Putin

1 year, 7 months ago

Companies are finding it’s not so simple to leave Russia

LA Times

A woman exits a newly opened Maag store, a former Zara flagship store, in Moscow, Russia, Thursday, April 27, 2023. Companies are lost in “a Bermuda Triangle between EU sanctions, U.S. sanctions and Russia sanctions,” said Michael Harms, executive director of the German Eastern Business Assn. In a rare, frank explanation, Steffen Greubel, chief executive of German cash and carry …

Business War Ukraine Russia Sanctions Germany Companies

1 year, 10 months ago

Stellantis idles Illinois plant, takes step toward closure

Associated Press

DETROIT — Stellantis is moving closer to closing its factory in Belvidere, Illinois, as it prepares for the costly transition from internal combustion to electric vehicles. Belvidere’s future is likely to be a lightning-rod issue in national contract talks coming up this summer with the United Auto Workers union, one that could bring a painful strike. “This economic dislocation is …

Workers Union Company Plant Stellantis Uaw Belvidere

1 year, 11 months ago

Europe bans Russian diesel, other oil products over Ukraine

Associated Press

FRANKFURT, Germany — Europe imposed a ban Sunday on Russian diesel fuel and other refined oil products, slashing energy dependency on Moscow and seeking to further crimp the Kremlin’s fossil fuel earnings as punishment for invading Ukraine. The goal is allowing Russian diesel to keep flowing to countries like China and India and avoiding a sudden price rise that would …

Europe Oil European Union Price Russian Moscow Ban

1 year, 11 months ago

The luxury goods from famous UK brands that are STILL on sale in Moscow

Daily Mail

At the beating heart of Moscow, directly opposite the Kremlin on the eastern side of Red Square, you'll find Russia's most famous shopping mall. One of the still open Brtish shops is Paul Smith, the Nottingham-based purveyor of stripy scarves and modish menswear that its eponymous multi-millionaire founder and owner likes to describe as 'classic with a twist' Also open …

Ukraine Russia Sale British Western Open Paul

2 years ago

Russian lives 'remain stable' amid conflict

China Daily

A man enters a building next to a board showing currency exchange rates of the euro and US dollar against the Russian ruble in Moscow on Dec 21. Positive trend According to data from the Federal State Statistics Service, known as Rosstat, the growth of investment in fixed assets in the first nine months this year amounted to 5.9 percent. …

Russia Russian Moscow Volkswagen Kaluga

2 years ago

Drivers are stuck in limbo as world’s oil supply reshuffles

Associated Press

NEW YORK — At a gas station outside New York City, retired probation officer Karen Stowe was faced with a pump price she didn’t want to pay. Drivers now hope the situation doesn’t get worse after a series of cutbacks tied to Russia’s war in Ukraine, accidents and the slowing global economy have strained the world’s oil supply. “But it …

India Europe China Russia Supply New York Oil Prices

2 years ago

Drivers stuck in limbo as world's oil supply reshuffles

Firstpost

Drivers hope the situation doesn’t get worse after a series of cutbacks tied to Russia’s war in Ukraine, accidents and the slowing global economy have strained the world’s oil supply New York: At a gas station outside New York City, retired probation officer Karen Stowe was faced with a pump price she didn’t want to pay. Drivers now hope the …

Global India Europe China Supply Prices Price

2 years, 4 months ago

Putin threatens to ‘freeze’ Europe with total energy cut-off

The Telegraph

Vladimir Putin has threatened to “freeze” Europe with a total shutdown of energy supplies if Brussels presses ahead with a price cap on Russian gas. “No gas, no oil, no coal, no fuel oil, nothing.” The European Commission is to ask countries to approve a broad cap on the price of Russian gas alongside mandatory cuts in electricity use, and …

Energy Europe Russia Gas Putin

2 years, 4 months ago

Russia’s Gazprom keeps gas pipeline to Germany turned off

Al Jazeera

Energy giant says it cannot restart gas deliveries after finding faults in Nord Stream 1 pipeline during maintenance. Russian energy giant Gazprom has postponed a Saturday deadline to restore flows via a crucial gas supply route to Europe, citing an oil leakage in the Nord Stream 1 pipeline discovered during maintenance. “Gas transmission via the Nord Stream pipeline has been …

Energy Ukraine Russia Germany Maintenance Nord Stream Russian

2 years, 4 months ago

Stars Coffee, anyone? Starbucks successor opening in Russia

Associated Press

MOSCOW — People in Moscow who were disappointed when Starbucks closed its coffee shops after Russia sent troops into Ukraine may now feel a caffeine jolt of hope: A nearly identical operation is opening in the capital. The menu, judging by the company app introduced a day before the store’s formal opening Friday, would look familiar to any Starbucks customer. …

Russia Russian Operation Starbucks

2 years, 5 months ago

Toyota suspends some Japan factory production due to Covid outbreak

Hindustan Times

Toyota Motor Corp said it would suspend the night shift operation on Tuesday at one production line at its factory in central Japan due to an outbreak of Covid-19, after it suspended operations there also on Monday night. The suspension comes as the Japanese automaker seeks to boost its production in earnest after Covid-19 lockdowns in China and a global …

Japan Covid Toyota

2 years, 5 months ago

Russia to cut gas through Nord Stream 1 to 20% of capacity

Associated Press

BERLIN — Russian energy giant Gazprom said Monday that it would further reduce natural gas flows through a major pipeline to Europe to 20% of capacity, citing equipment repairs. Ukrainian President Volodymyr Zelenskyy called Russia’s cuts in gas deliveries “a form of terror.” In his nightly video address, Zelenskyy accused Moscow of “waging an overt gas war” against European countries, …

Europe Ukraine Russia Germany Gas Nord Stream Russian

2 years, 5 months ago

H&M to wind down operations in Russia

Live Mint

Swedish fashion retailer H&M said on Monday it had decided to wind down operations in Russia, after pausing all sales there in March following Moscow's invasion of Ukraine. "After careful consideration, we see it as impossible given the current situation to continue our business in Russia," H&M Group CEO Helena Helmersson said in a statement. Swedish network equipment maker Ericsson …

Ukraine Russia Swedish

2 years, 5 months ago

LEGO becomes latest company to pull out of Russia

Daily Mail

LEGO has become the latest major company to completely pull out of Russia due to Putin's brutish invasion of Ukraine. LEGO has become the latest major company to completely pull out of Russia due to Putin's brutish invasion of Ukraine Companies that stopped doing business in Russia LEGO McDonald's KFC Taco Bell Pizza Hut Cocoa-Cola Pepsi Starbucks Uniqlo British American …

Ukraine Russia Operations Company Russian Moscow Mcdonald

2 years, 7 months ago

Nike ends sponsorship deal with Spartak Moscow

The Hindu

Nike has terminated its sponsorship deal with Russian Premier League club Spartak Moscow because IT will not be taking part in European competitions next season, the company and the club said. UEFA, the governing body of European football, decided Russia would have no affiliated teams participating in its club competitions in the 2022-23 season due to Moscow's military campaign in …

Ukraine Russia Nike Club Russian Moscow Uefa

2 years, 7 months ago

Spartak Moscow Says Nike Ends Sponsorship Deal with the Club

News 18

Russian Premier League club Spartak Moscow said on Thursday that Nike had terminated its sponsorship deal with the team because it will not be taking part in European competitions next season. IPL 2022 – FULL COVERAGE | SCHEDULE | RESULTS | ORANGE CAP | PURPLE CAP | POINTS TABLE UEFA, the governing body of European soccer, decided Russia would have …

Ukraine Russia Moscow Spartak Nike Ends

2 years, 8 months ago

Tesla halts production at Shanghai plant due to supply issues

The Hindu

Tesla Inc halted production at its Shanghai plant on Monday due to issues with supplies, two people familiar with the matter said. The suspension comes just three weeks after the U.S. automaker partially resumed production at the Shanghai plant on April 19 following a 22-day closure caused by the city's COVID-19 lockdown, reflecting the complexity and uncertainties of keeping manufacturing …

China Shanghai Plant Tesla Halts Shanghai Plant

2 years, 8 months ago

Tesla halts production in Shanghai over supply issues: Report

Al Jazeera

Reported suspension comes just three weeks after the US automaker partially resumed production at Shanghai plant. Tesla Inc halted production at its Shanghai plant on Monday due to issues with supplies, two people familiar with the matter have said. The suspension comes just three weeks after the US automaker partially resumed production at the Shanghai plant on April 19 following …

China Production Shanghai Plant Shanghai Plant Supplies Tesla

2 years, 8 months ago

Danish brewer Carlsberg reports strong growth in 1st quarter

Associated Press

COPENHAGEN, Denmark — Danish brewer Carlsberg said Thursday that it saw a strong growth in the first three months of the year despite trying to sell its business in Russia, where it generated around 10% of its sales, reporting it saw “only limited impact from the war” in Ukraine. While Carlsberg beer is no longer sold in Russia, the company …

Ukraine Russia Carlsberg Brewer Baltika Breweries

2 years, 8 months ago

Ukraine war: Russia halts gas supplies to Poland and Bulgaria

Firstpost

Russian state-owned energy giant Gazprom had already informed the two EU and NATO member nations that gas supplies will be suspended on Tuesday Russia has halted gas supplies to Bulgaria and Poland on Wednesday for rejecting its demand to pay in roubles, taking direct aim at European economies in its toughest retaliation so far against international sanctions over the war …

Poland Russia Gas Russian Bulgaria Gazprom Gas Supplies

2 years, 8 months ago

Russia Escalates Conflict By Cutting Off Gas To Poland, Bulgaria

Huff Post

LOADING ERROR LOADING WARSAW, Poland — Polish and Bulgarian leaders accused Moscow of using natural gas to blackmail their countries after Russia’s state-controlled energy company said it would stop supplying the two European nations Wednesday. The gas cutoff came after Russian President Vladimir Putin said last month that “unfriendly” countries would need to start paying for gas in rubles, Russia’s …

Energy Europe Poland Ukraine Countries European Bulgaria

2 years, 8 months ago

Poland, Bulgaria say Moscow cutting off natural gas supplies due to refusal to pay in Russian rubles

Firstpost

If Russia continues to gradually halt deliveries to other countries, it could cause economic pain in Europe, driving natural gas prices to new highs and possibly leading to rationing Warsaw: Polish and Bulgarian officials on Tuesday said that Moscow is cutting off natural gas deliveries to their countries due to their refusal to pay in Russian rubles, a demand made …

Europe Poland Ukraine Russia Gas Putin Russian

2 years, 8 months ago

Russia-Ukraine war: Poland, Bulgaria ‘facing Gazprom gas cuts’

Al Jazeera

Polish and Bulgarian officials say Russia is cutting off gas deliveries to their countries after their refusal to pay in Russian roubles, a demand made by President Vladimir Putin as the West tightened sanctions over the war in Ukraine. Poland’s state-owned PGNiG, citing the Russian energy giant Gazprom, said the suspension would come into effect at 8am local time on …

Europe Poland Gas Putin Russian Polish Yamal

2 years, 8 months ago

200,000 could lose their jobs as Western companies withdraw, Moscow mayor says

NPR

200,000 could lose their jobs as Western companies withdraw, Moscow mayor says Enlarge this image toggle caption Sandra Montanez/Getty Images Sandra Montanez/Getty Images As a growing number of Western companies distance themselves from Russia, the mayor of Moscow says hundreds of thousands of people could soon be without work. "According to our estimates, about 200,000 people are at risk of …

Moscow Western Companies Moscow Mayor

2 years, 9 months ago

For companies still selling in Russia, ‘essential’ is a loose term

Live Mint

The world’s biggest makers of household staples have vowed to stop selling all but the bare essentials in Russia. Parent companies PepsiCo Inc., Procter & Gamble Co., Reckitt Benckiser Group PLC and Unilever PLC have said they suspended sales of all but essential food and other products in Russia. Ukrainian President Volodymyr Zelensky last week publicly named Unilever and Nestlé …

Business Russia Products Company Russian Essential Continue

2 years, 9 months ago

Qualcomm Stops Selling Products to Russian Companies

News 18

Chipmaker Qualcomm Inc said on Wednesday it has stopped selling its products to Russian companies in compliance with U.S.-imposed sanctions after Moscow invaded Ukraine. Urging Tibbits to stop supplies to Russia, Fedorov said Qualcomm products are still available in Russia and it “inadvertently enables this country to kill thousands of Ukrainians." While the invasion has drawn the ire of Western …

Ukraine Russia Russian Ukrainian Qualcomm Russian Companies Fedorov

2 years, 9 months ago

Tobacco giant and car dealership chain become latest UK firms to quit Russia

The Independent

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. And car dealership business Inchcape said it would leave Russia due to the war. …

Business Ukraine Russia Russian Imperial

Stellantis to Suspend Operations at Russian Plant Due to Logistical Issues

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