Oil dips as European leaders play down prospect of sanctions on Russian energy supplies March 7, 2022 Oil prices have dipped following strong rallies this morning, with Europe playing down the prospect of sanctions on Russian energy supplies.
Kia wins as Russia expelled from European Car of the Year contest March 7, 2022 The electric Kia EV6 has won the European Car of the Year prize, although the 2022 contest wasn't without controversy.
Putin’s retaliation to Western sanctions and soaring energy prices send global markets whipsawing March 7, 2022 Russian President Vladimir Putin’s retaliation to sanctions and the possibility of the West banning Moscow oil and gas sent global markets whipsawing today. London’s premier FTSE 100 index tumbled over two per cent during the first hour of trading, while the domestically-focused FTSE 250 index, which is more aligned with the health of the UK [...]
Next to wind down Russian operations after invasion of Ukraine March 7, 2022 Fashion retailer Next will close its Russian operations following the invasion of Ukraine, as British brands move to condemn the country. The clothing retailer informed staff at its Russian distribution hub that it will be winding down the operation in an orderly way. It told staff its website will be closed for Russian customers too, [...]
The City View: Keeping The Lights On March 7, 2022 In this Monday episode Andy Silvester chats to Jack Barnett, City A.M.’s Economics and Markets reporter, about European market reaction to Russia-Ukraine; energy prices and how commodity price hikes could impact inflation; and the difficulty for countries in switching off from Russian energy. Andy also takes us through the headlines: Sanjeev Gupta, CEO of Liberty [...]
Bitcoin and crypto markets feeling the effects of war in Ukraine March 7, 2022 Data from CryptoCompare shows that the price of Bitcoin started the week recovering from a significant slump endured after Russia’s invasion of Ukraine was launched.
Deloitte becomes last of the Big Four to exit Russia March 7, 2022 Accountancy and audit heavyweight Deloitte has become the last of the Big Four to pull out of Russia, following its invasion of Ukraine – joining EY earlier today. PwC and KPMG announced similar moves last night, citing the Russian government’s actions in Ukraine. Deloitte confirmed last week that it was reviewing its “business and presence [...]
LetterOne oligarchs resign from board after sanctions hit co-founders March 7, 2022 The investment firm co-founded by sanctioned oligarchs Mikhail Fridman and Petr Aven has today announced its three remaining Russian billionaire co-founders will also resign, as it battens down the hatches for further sanctions.
Ukraine: Johnson to set out UK energy strategy ‘in days ahead’ as EU clings to Russian oil and gas March 7, 2022 Boris Johnson has vowed to set out a new UK energy strategy to deal with the fallout of the Ukrainian invasion as EU leaders declare they cannot cut off Russian oil and gas yet. Johnson said the plan will be set out “in the days ahead” and that the UK is looking at “using more [...]
Surging oil prices slow down aviation’s recovery March 7, 2022 The post-pandemic recovery of some airlines could be badly affected by the ongoing increase in oil prices. Prices today hit $130 per barrel, the highest level since 2008, amid fears of tightening supplies as both the US and Europe weigh in on a Russian oil ban after the Kremlin waged war in Ukraine. According to [...]