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Oil Prices Surge Over News Of EU Mulling Russian Oil Ban, And Hit To Saudi Refinery Production

Oil prices rose $3 on Monday, with Brent topping $110 a barrel, as European Union countries consider joining the US in a Russian oil embargo, while a weekend attack on Saudi oil installations sparked fears.   Brent crude futures were up $3.44, or 3.2 percent, to $111.37 a barrel by 0443 GMT,...

Foreign Companies Exiting Russia Will Have Their Assets Seized, Warns Putin

Russian integration into the global consumer economy was believed to be symbolized by the “Evropeisky” mall in Moscow as its atriums were named after cities such as London, Paris and Rome.   But, in the two weeks since Russia invaded Ukraine, major sections of the seven-story retail mall...

JPMorgan Suggests Businesses Should Recruit Unconventionally, Including Those With Criminal Records

Since the start of the Covid-19 pandemic, companies around the world have been experiencing a labour shortage, which has hampered production and raised costs.   Companies may prevent this problem by recruiting neurodiverse employees and those with criminal histories, according to JPMorgan...

Large Exposure To Russian Markets Detailed By UniCredit, And BNP Paribas

The latest banks to disclose their Russian exposures are UniCredit of Italy and BNP Paribas of France as the two lenders warned that the financial impact from Russia's invasion of Ukraine might cost billions of euros to them.   After the West imposed harsh sanctions on...

List Of Western Brands Leaving Russia Joined By More Brands Including Nestle, Tobacco Groups, Game-maker Sony

Video gaming company Sony along with Nestle, and Philip Morris, decided to join a growing list of multinationals that are shying away and leaving the Russian market on Wednesday, with increasing pressure from the consumers of these companies in the West severely criticise the Russian invasion of...

US Brands Mcdonald's, Starbucks, Coke, And Pepsi Stop Business In Russia

American brands McDonald's, PepsiCo, Coca-Cola, and Starbucks have all halted sales of their most well-known items in Russia, in a unified condemnation of the assault on Ukraine by corporations that define America for most of the world.   Pepsi and McDonald's were business trailblazers...

Slowdown In Export Growth Of China With Ukraine War Posing Risks In The Future

A slow down in export growth of the Chinese economy was noted for January-February period, owing to base effects, and while the statistics exceeded forecasts, Russia's invasion of Ukraine has raised concerns about the global trade picture this year.   Official statistics released...

Russia Raises Interest Rates And Imposes Capital Controls To Shield Economy From Sanctions

The primary policy rate of Russia's central bank was more than doubled by it on Monday while capital controls have also been imposed as it tries to shield the economy from form the impact of the unprecedented Western sanctions which plunged the rouble to historic lows.   To fight the risks...

Hundreds Of Leases For Russian Planes Will Be Terminated As A Result Of EU Sanctions.

Hundreds of aircraft leases with Russian airlines are due to be terminated as a result of Western sanctions on the country over its invasion of Ukraine. A part of the sanctions warrant that the contracts for leases be revoked.   The world's largest leasing business, AerCap...

Ex-Goldman Banker's Star Witness Claims That 1MDB Kickbacks Were Hidden By Wives

One of two Goldman Sachs bankers testified on Thursday in the corruption trial of the other, Roger Ng, that they devised a plan involving their spouses to conceal payments they got for helping to pillage Malaysia's 1MDB sovereign wealth fund.   Tim Leissner, Ng's Goldman supervisor before...

Russia Unlikely To Be Cut Off SWIFT For Now By US And The EU

As part of its sanctions against Russia for invading Ukraine, the United States and the European Union chose not to cut Russia off from the SWIFT global interbank payments system, but US President Joe Biden has stated that the subject might be revisited.   When asked why that step was not...

European Finance Industry Issues Cyber Warnings And Freezes Bonds In Reaction To Ukraine Invasion By Russia

Following Russia's invasion of Ukraine, Europe's financial industry rushed on Thursday, with Allianz announcing it had blocked its Russian government bond exposure and Lloyds announcing it was on "heightened alert" for cyberattacks. find out more   European authorities warned that a new wave...
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