Rules forcing Britain's banks to wrap their retail arms with a bespoke cushion of capital should be retained for now, though they could "ossify" the sector in the longer term if left unchanged, an independent review for the finance ministry said on Tuesday.

BERLIN (Reuters) -A lack of wiring harnesses from Ukraine has overtaken a shortage of semiconductors as Volkswagen's biggest supply chain headache as the Russia-Ukraine war clouds its prospects for this year, the world's No.2 carmaker warned on Tuesday.

MILAN (Reuters) -UniCredit is studying ways to exit Russia following the invasion of Ukraine, but needs to find a solution for its 4,000 local staff and European companies it serves which are also trying to leave, the Italian bank's CEO said.

A federal appeals court on Tuesday rejected Exxon Mobil Corp's effort to stop Massachusetts and New York from probing whether the oil company lied to investors and the public regarding what it knew about climate change.

European Union regulators have told some banks to scrutinise transactions by all Russian and Belarusian clients, including EU residents, to ensure that they are not used to circumvent Western sanctions against Moscow, three sources told Reuters.

Canada's benchmark index extended losses for a third straight session on Tuesday, as weakness in energy and metal prices due to rising COVID-19 cases in China weighed on commodity stocks.