Nestlé suspends brands including KitKat and Nesquik in Russia after scolding from Ukrainian President Zelensky March 23, 2022 Food and beverage giant Nestlé is suspending brands including KitKat and Nesquik in Russia. “We are focused on providing essential foods such as baby food and medical/hospital nutrition products. This means we will suspend the vast majority of our pre-war volume in Russia,” a Nestlé spokesperson said. It comes after the world’s largest consumer goods [...]
Angry Putin ends WWII peace talks with Japan as Tokyo exploits anti-Russian sentiment to claim Kuril Islands March 23, 2022 The Russian government has told Japan it is ending negotiations to sign a formal World War II peace treaty because of Tokyo’s efforts to exploit the Ukraine war to claim the Kuril Islands belong to Japan. “The Russian side, in the current conditions, does not intend to continue talks with Japan on the peace treaty,” [...]
European energy firms dithering over Russia departure March 23, 2022 European companies are dithering over departing from Russia - with key assets and supply deals in the sanction hit country.
Will the world economy avoid an inflationary bust? March 23, 2022 Today’s high inflation is being compared to the 1970s. However, robust consumer spending, fuelled by pandemic savings, makes for a different set of circumstances. Memories of the 1970s were evoked as the price of Brent crude oil temporarily climbed above $139 a barrel in the wake of Russia’s invasion of Ukraine. That was a period [...]
What’s behind market volatility in China? March 23, 2022 It’s been a rollercoaster week for Chinese stock markets. We explain why and get the views of Schroders’ experts Robin Parbrook, Maggie Zheng and David Rees. In the last week, equity markets in mainland China and Hong Kong Special Administrative Region have experienced a rout, and a subsequent rally in the past two days. At [...]
UK inflation climbs to more than triple Bank of England’s target March 23, 2022 UK inflation has soared to more than triple the Bank of England’s target, piling more pressure on the central bank to launch further rate hikes. Threadneedle Street is likely to pivot away from the dovish tone it set at its meeting last week after new figures published today by the Office for National Statistics (ONS) [...]
Pro-Kremlin paper admits close to 10,000 Russian solders killed in Ukraine while 16,000 troops wounded March 23, 2022 Pro-Kremlin tabloid Komsomolskaya Pravda has published Russian Ministry of Defence figures that list 9,861 Russian troops have now died in Ukraine. Moreover, the paper also says 16,153 have been wounded in the ongoing war. “Huge if true – though this probably won’t stay online long,” Matthew Luxmoore, the Wall Street Journal’s reporter in Moscow tweeted. [...]
1 Minute Market Rundown – 23rd March 2022 March 23, 2022 Russia – UkraineYields in focusCrypto consolidates A feeling of deja vu overnight as Australian, New Zealand and South Korean 10 year yields all hit fresh cyclical highs as the rates market continues to reprice. Interestingly enough, stock markets held on with the S&P even clearing its 200 DMA. It seems the hawkish rhetoric from Powell [...]
Alisher Usmanov: Ex Arsenal and Everton backer has assets ‘transferred into irrevocable trusts’ March 23, 2022 Former of Arsenal FC shareholder Alisher Usmanov says most of his property has been “transferred into irrevocable trusts” in a bid to evade UK sanctions. The Russian billionaire claims he has protected some of his most valuable properties and his £437m yacht after they were frozen earlier this month. According to The Times, a spokesperson [...]
UK and Ireland set to be confirmed as hosts of Euro 2028 today March 23, 2022 The UK and Ireland are today expected to be effectively confirmed as joint hosts of Euro 2028 after no other bidders came forward. Russia and Turkey had been in the running but the war in Ukraine caused the former to drop out and the latter lacked the support to rival the UK and Ireland. The [...]