Bloomberg US index futures and European stocks rose as dip buyers wagered the global economic impact of escalating sanctions on Russia is already reflected in market prices. Contracts expiring later this month on the S&P 500 and Nasdaq 100 gauges added at least 1.2% each after US equities tumbled to a nine-month low. Banks and automakers boosted Europe’s Stoxx 600 …

  Bloomberg A move by the world’s largest sovereign wealth fund to snub a Chinese apparel firm and growing concern that surging oil prices will complicate policy makers’ easing path sparked fresh pessimism over Chinese and Hong Kong’s stocks. Stock benchmarks in China and Hong Kong both tumbled by more than 3% before paring losses sharply. The CSI 300 closed …

  Bloomberg Indonesia, the world’s biggest palm oil producer and exporter, will push ahead with its ambitious biodiesel program even as prices of the tropical oil have soared, which could increase the costs of producing biofuel. The B30 program, which stipulates that fossil fuels must be blended with 30% palm oil, is still running as planned, said Dadan Kusdiana, director …

  Bloomberg Petrobras Chairman Admiral Eduardo Bacellar Leal Ferreira plans to step down after three years at the helm of the state-controlled Brazilian oil giant, citing personal reasons. “My family lives abroad and I want to be close to them,” Ferreira, who turns 70 in June, said by phone. Rodolfo Landim, the former chief executive officer of BR Distribuidora, is …

  Bloomberg The Netherlands unit of Chinese solar manufacturer Longi Green Energy Technology Co has been ordered by a Dutch court to stop selling some products because they infringe on patents held by a South Korean rival. The ruling affects sales in 11 countries, including Germany and France, and follows a lawsuit from Hanwha Solutions Corp, according to an exchange …

  Bloomberg China’s top wind turbine producers are facing a growing challenge in the world’s largest market, as smaller players increase sales and with fierce competition on pricing. The market share of the top three turbine makers in China fell for the second year in a row and is now down to 48% from 62% in 2019, BloombergNEF analysts Leo …

Bloomberg OMV AG, Austria’s biggest fossil-fuel company, will book charges of as much as 1.8 billion euros ($2 billion) related to the Nord Stream 2 pipeline and its investment in a giant natural gas field as it quits most Russian projects following the country’s invasion of Ukraine. The Vienna-based company expects value adjustments of 500 million to 800 million euros …

Bloomberg Qantas Airways Ltd flagged a period of higher air fares to claw back rising fuel costs as Russia’s invasion of Ukraine sends oil prices soaring. “The group is very well placed to be able to recover the cost of fuel if it stays at the levels that it is at the moment,” Qantas Chief Financial Officer Vanessa Hudson said …

  Bloomberg Adidas AG halted sales in Russia, following other athletic-wear makers like Puma SE and Nike Inc in response to the country’s invasion of Ukraine. The German sports company said it was suspending the operations of its stores and e-commerce site in Russia and stands “in solidarity with those calling for peace.” Adidas, in a separate move, replaced the …

  Bloomberg In late January, staff of Cathay Pacific Airways Ltd were invited to an online meeting with senior management. It was supposed to be a debrief on the airline’s financial performance, but when the floor was opened to questions, the first was whether Hong Kong’s flag carrier would be taken over by its state-owned shareholder Air China Ltd. Clearly …