McDonalds and Nissan could buy back Russian subsidiaries as it is revealed most Western corps have failed to exit the country January 19, 2023 The vast majority of Western corporations have failed to properly exit Russia, according to research carried out by two Swiss universities. Multinational firms such as including McDonalds and Nissan even have kept an option to buy back their Russian subsidiaries via clauses into their exit contracts; this would let them return to Russia if tensions [...]
Putin ally Medvedev admits Russia could lose Ukraine War – and threatens nuclear response January 19, 2023 Former Russian President Dmitry Medvedev, an ally of Kremlin chief Vladimir Putin, warned the North Atlantic Treaty Organization (NATO) on Thursday that the defeat of Russia in Ukraine could trigger a nuclear war. Since Russia invaded Ukraine, Medvedev has repeatedly raised the threat of a nuclear apocalypse, but his admission now of the possibility of [...]
Davos round-up: Goldman’s consumer banking headache, Big Tech layoffs and Germany’s green drive January 18, 2023 As some of the world’s most important CEOs, politicians and thinkers gather at the World Economic Forum in Davos to discuss an array of economic, political and social challenges, City A.M. wraps up some of the top lines from the day. Goldman Sachs’ consumer banking headache Goldman Sachs’ foray into consumer banking has not gone [...]
Total Energies to cough up £1.7bn to pay off hiked windfall taxes January 18, 2023 French oil major TotalEnergies has confirmed it will take a £1.7bn hit in the fourth quarter from EU and British windfall taxes.
City analysts betting on Bank of England interest rate cuts by early 2024 – as long as inflation falls quickly January 18, 2023 The Bank of England could cut interest rates as soon as early next year if inflation continues to tumble in 2023, top City analysts have predicted. The rate of price increases is forecast to more than halve which would bring inflation to below five per cent by the end of 2023, according to forecasts from [...]
Oil be damned: Global demand for oil set to hit all-time high this year as China reopens January 18, 2023 Global oil demand will reach a record high this year, and rise by nearly 2m barrels per day this year, as China eases pandemic restrictions.
London firm Shipleys investigated over audit of Russian fintech Zaim Credit Systems January 18, 2023 The UK’s accounting regulator has launched an investigation into London accounting firm Shipleys over its audit work for the UK-listed holding company of Russian fintech firm Zaim Express. The Financial Reporting Council (FRC) said today that it has decided to open an investigation into the firm’s audit of Zaim Credit Systems’ 2021 accounts. The FRC’s [...]
UK and EU at risk of losing green energy projects to US unless investment matched, renewable firms warn January 18, 2023 The UK and European Union are at risk of losing green energy projects to the US - if they fail to match its new investment environment.
Ukrainian interior minister Denys Monastyrsky killed in chopper crash January 18, 2023 A helicopter crash in a Kyiv suburb on Wednesday killed 18 people, including Ukraine’s interior minister and three children, Ukrainian authorities said. Interior Minister Denys Monastyrskyi, his deputy Yevhen Yenin, and State Secretary of the Ministry of Internal Affairs Yurii Lubkovych were among those killed, according to Ihor Klymenko, chief of Ukraine’s National Police. Mr [...]
The Notebook: Neil Bennett’s Davos dispatch January 17, 2023 The Notebook is a place for interesting people to say interesting things. Today it’s the turn of Neil Bennett, Global Co-CEO of communications advisory giant H/Advisers – writing on Ukraine in Davos, Manchester United’s bold marketing strategy and why the Swiss town remains the place to be I am in Davos this week to host [...]