(In paragraph 2, corrects bid to 1.5 billion euros, not $1.5 billion euros, adds currency conversion) WASHINGTON/FRANKFURT (Reuters) - The U.S. Treasury has sanctioned a web of Russian companies it said were used to disguise ownership of a $1.5 billion industrial stake controlled by a Russian tycoon, warning Western companies to steer clear of such deals. The step concerns a...

May 14 (Reuters) - A large wildfire is slowly approaching the major Canadian oil sands city of Fort McMurray and around 6,000 people in four suburbs have been told to evacuate, local officials said on Tuesday. The fire, fueled by tinder-dry conditions and high winds, has been threatening the city in the western province of Alberta since last week. It...

FRANKFURT (Reuters) - German conglomerate Thyssenkrupp cut its 2023/24 forecast for sales and net profit for the second time in three months, blaming lower demand and prices at its steel unit as well as impairments at its materials trading division. The move underscores the challenging environment for conglomerates focused on capital goods, which need to tackle elevated inflation, raw materials...

FRANKFURT (Reuters) - E.ON on Wednesday posted first-quarter profits that were roughly stable year-on-year, adding that investments were up by around a quarter as Europe's biggest operator of energy grids is massively ramping up spending on grids. First-quarter adjusted core profit (EBITDA) was up 1% at 2.745 billion euros, while adjusted net profit was up 2% at 1.047 billion, the...