US ramps up sanctions with plans to ban Russian oil imports March 8, 2022 The US is expected to impose ban on Russian oil imports as it ramps up sanctions following the country's invasion of Ukraine.
Man of steel: Russian oligarch Vladimir Lisin comes out against Putin by calling for immediate end to Ukraine war March 8, 2022 Oligarch Vladimir Lisin, the chairman and main shareholder of the NLMK Group, one of Russia’s largest steel makers, has called for an immediate end to the Russian war in Ukraine. The Moscow-based billionaire reportedly sent a letter to NLMK staff, which was subsequently widely shared on social networks. The steel tycoon wrote that “the death [...]
Michael Kors CEO exits after six months at fashion giant March 8, 2022 The chief executive of Michael Kors is set to step down after just six months in the role. Joshua Schulman was anticipated to succeed John Idol as chief executive of the fashion brand’s parent company Capri Holdings next autumn. A reason was not provided for the exit but Capri Holdings have said Idol will stay [...]
Gold surges again as Goldman predicts price will top $2500 this year March 8, 2022 Gold has surged again to trade above $2000 throughout today, with analysts now predicting a sustained rise amid turbulence in global equity markets.
Value of mortgage advances tops £70bn as real estate experts say market is cooling off March 8, 2022 Real estate experts have said the latest mortgage lenders statistics show a market cooling off from its earlier frenzy. In figures published by the Bank of England on Tuesday, the outstanding value of all residential mortgage loans was £1,613.4bn at the end of the fourth quarter of 2021. This was 4.7 per cent higher than [...]
LME suspends nickel trading amid price boom March 8, 2022 The London Metal Exchange (LME) has halted nickel trading for the rest of the day after prices doubled to a record $100,000 per tonne.
‘The world of navigation is changing’: Airbus to launch six new satellites in 2024 March 8, 2022 Airbus is readying to build and launch six new second generation Galileo satellites in 2024 in a “key milestone” for Europe’s satellite network. It comes as aerospace manufacturer completes the preliminary design review for the satellites’ navigation systems. Airbus, which pulled out of Russia last week amid its invasion of Ukraine, has plans to create [...]
Russia-Ukraine war to deliver £90bn blow to UK economy March 8, 2022 Russia’s war with Ukraine will deal a £90bn blow to the UK economy driven by a worsening cost of living crunch sending the British consumer into retreat, reveals fresh forecasts published today. Soaring energy prices as a result of Moscow sending troops in Ukraine will feed already historic high inflation in Britain, heaping even further [...]
Chancellor pressures asset managers to cut ties with Russia March 8, 2022 The Treasury has ramped up pressure on asset managers to dump their holdings in sanctioned Russian firms, with chancellor Rishi Sunak hosting top industry bosses last week to discuss divestment.
Biden to sign executive order on crypto amid sanction evasion fears March 8, 2022 US President Jo Biden is poised to sign an executive order on crypto this week amid fears digital assets are being used to evade sanctions.