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Eastern Europe

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  • NEW YORK— Wall Street went wild for burgers Friday. It had initially forecast that its shares would fetch $14 to $16 per share from investors, and raised that prediction to $17 to $19 per share on Wednesday as demand grew. Its journey from a hot dog cart in Manhattan's Madison Square Park to Wall Street started in 2001. Three years later, Union Square Hospitality...

  • "I believe there are no problematic areas in the issue of bilateral cooperation between Germany and Hungary," Orban said Friday on state radio. The relationship with Germany is key to Budapest: Germany is by far Hungary's largest trading partner, accounting for around 25 percent of its foreign trade. For its part, Germany has considered Hungary an important...

  • BUCHAREST, Romania— Romania's central bank governor says the country cannot afford to come to the rescue of borrowers who took out loans in foreign currencies and are now pinched by higher costs. National Bank governor Mugur Isarescu said Friday such a measure could cost Romania up to 4.5 billion lei, or 0.6 percent of GDP. The International Monetary Fund has...

  • MOSCOW— The Russian government has awarded the contract for the construction of a $3 billion bridge to Crimea to a longtime ally of President Vladimir Putin. In a decree published online Friday, the government said that a company owned by Arkady Rotenberg would be given the commission to build a bridge linking Crimea— the Black Sea peninsula that Moscow annexed...

  • MOSCOW— Russian central bank cuts key interest rate by 2 percentage points to 15 percent; ruble drops.

  • MOSCOW, Jan 30- Russian state-controlled oil company Rosneft will not be able to resume drilling in the Kara Sea this year after Western sanctions halted its cooperation with ExxonMobil, two company sources told Reuters on Friday. Asked for comment, Rosneft said: "In 2015, Rosneft will ensure implementation of its licence obligations related to geological...

  • MINSK, Jan 30- Belarus said on Friday it had paid a coupon on its five-year Eurobond, moving to calm markets after President Alexander Lukashenko spoke of a possible sovereign debt restructuring this year. On Thursday, President Alexander Lukashenko spooked bond markets by speaking of a possible restructuring of Belarussian foreign debt falling due this...

  • MOSCOW, Jan 30- Russia's rouble extended losses on Friday ahead of a central bank monetary policy meeting at which the bank is expected to leave it key interest rate on hold. Russia's central bank will announce its decision on its key rate at around 1030 GMT. "There is tentative evidence that depositor behaviour is gradually normalising amid moderating FX...

  • MOSCOW— In a surprise decision, Russia's central bank on Friday cut its key interest rate, which it had raised sharply last month to support the collapsing ruble, in order to help the fading economy. The move triggered a drop in the ruble, which was down more than 3 percent at 71 rubles against the dollar in early afternoon trading in Moscow. The central bank explained...

  • MOSCOW, Jan 30- The Russian government will help the central bank to pressure state-supported banks to increase lending in order to give a boost to economic growth, First Deputy Prime Minister Igor Shuvalov said on Friday.

  • MOSCOW, Jan 30- Russia's government will employ a company belonging to an ally of President Vladimir Putin to build a bridge connecting mainland Russia to the Crimean peninsula, which Moscow annexed from Ukraine last year. It said SGM, owned by Putin's childhood judo partner Arkady Rotenberg, was "one of Russia's leading holding companies engaged in the...

  • MOSCOW, Jan 30- Russia's rouble dipped in early trade on Friday, ahead of a central bank monetary policy meeting at which the bank is expected to leave it key interest rate on hold. Russia's central bank will announce its decision on its key rate at around 1030 GMT. "There is tentative evidence that depositor behaviour is gradually normalising amid moderating FX...

  • Russia's biggest miner faces Arctic prices challenge Friday, 30 Jan 2015 | 1:00 AM ET

    NORILSK, Russia, Jan 30- Russia's financial crisis is posing a stark challenge to the country's largest mining company. The slump in the rouble and a resulting rise in inflation could have an outsize effect in Norilsk, a town 300 km inside the Arctic Circle where more than a quarter of the 220,000 population work for the company, and it's hard to shop around.

  • *Q1 earnings $2.53 per class A share vs. estimate $2.49. Jan 29- Visa Inc, the world's largest credit and debit card company, reported a better-than-expected quarterly profit on Thursday due to a good holiday season and a strengthening U.S. job market that encouraged people to spend. Visa, which earns money from both the volume and value of transactions using its...

  • *Q1 earnings $2.53 per class A share vs. estimate $2.49. Jan 29- Visa Inc, the world's largest credit and debit card company, reported a better-than-expected quarterly profit on Thursday as a strengthening U.S. job market and cheaper gasoline prices encouraged people to spend. Visa, which earns money from both the volume and value of transactions using its cards,...

  • *Greece drops resistance, says "not a Russian puppet". BRUSSELS/ KIEV, Jan 29- European Union foreign ministers extended existing sanctions against Russia on Thursday, holding off on tighter economic measures for now but winning the support of the new left-leaning government of Greece, whose position had been in doubt. Germany said that decision would depend on...

  • *Greece drops resistance, says "not a Russian puppet". BRUSSELS/ KIEV, Jan 29- European Union foreign ministers extended existing sanctions against Russia on Thursday, holding off on tighter economic measures for now but winning the support of the new left-leaning government of Greece, whose position had been in doubt. Germany said that decision would depend on...

  • DETROIT, Jan 29- General Motors Co will suspend production at its St. Petersburg auto assembly plant in Russia from mid-March to mid-May and is raising prices for its products because of the weak and volatile Russian rouble, a company spokesman said on Thursday. In addition, Volkswagen AG's labor chief said on Thursday the company lost hundreds of millions of...

  • *EU considering new sanctions after rebel advance in Ukraine. *Greece's position unclear, signs of division emerging. BRUSSELS/ KIEV, Jan 29- European Union foreign ministers agreed on Thursday to extend existing sanctions against Russia by six months but were still debating whether to impose new measures, with the new government in Greece sowing uncertainty...

  • Belarusian leader issues tough warning to Moscow Thursday, 29 Jan 2015 | 12:38 PM ET

    MINSK, Belarus— New cracks emerged Thursday in a Russia- led economic alliance, with the president of Belarus warning that his nation may opt out of it. "Those who think that the Belarusian land is part as what they call the Russian world, almost part of Russia, forget about it!" Last month, he accused Moscow of damaging Belarus' economic interests with moves to restrict...