• Reuters

    Exclusive-Russia's Kuibyshev oil refinery at a standstill after drone attack last week

    Russia's Kuibyshev mid-sized oil refinery near the city of Samara on the Volga river has halted all production following damage from a Ukrainian drone attack last week, two industry sources told Reuters on Thursday. The disruption adds to the difficulties of the Russian oil refining sector as the need for emergency repairs following numerous drone attacks claimed by Ukraine has left them struggling to deliver supplies. According to Reuters calculations, around 14% of Russia's refining capacity has been shut down by drone attacks, including Kuibyshev, and the country has this month increased gasoline imports from neighbouring Belarus to address possible fuel shortages.

  • Reuters

    Sterling bows to dollar strength after UK GDP data

    The pound eased on Thursday after data confirmed the UK economy entered recession in the second half of last year and as the dollar put on a display of broad-based strength as the month and the quarter end. Action in the currency market has been dominated this week by the prospect of the Bank of Japan intervening to buy the yen, which has hit its weakest since 1990 against the dollar. On the corporate front, Thames Water, Britain's largest utility, faced a new crisis after shareholders said they would not offer further funding.

  • PA Media: UK News

    Charity selling single malt to fund clean water in Madagascar

    The Maclean Foundation whisky is on sale for £115 per bottle.