Kremlin rejects Russian default, says bond payments executed
The Kremlin on Monday rejected claims that it has defaulted on its external debt for the first time in more than a century, after a grace period on $100 million interest payments ran out.
EXCLUSIVE Nike to fully exit Russia, will scale down over coming months
U.S. sportswear maker Nike (NKE.N) is making a full exit from Russia, three months after suspending its operations there, the company said in an emailed statement Thursday.
Analysis: Wall Street’s hiring frenzy eases as worries grow over economy, market slump
With mounting uncertainty around the U.S. economic outlook and the resulting slump in financial markets, Wall Street is easing up on hiring after a recruiting frenzy last year.
Exclusive: India’s Tata Steel bought 75,000 tonnes of Russian coal in May
India’s top steelmaker Tata Steel (TISC.NS) imported about 75,000 tonnes of coal from Russia in the second half of May, two trade sources and one government source said, weeks after pledging to stop doing business with Russia.
Analysis: Are high prices unpatriotic or as American as you can get?
President Joe Biden’s pointed criticism of oil and gas companies for earning massive profits as families suffer from high gasoline prices challenges a pillar of American capitalism: that U.S. companies should make as much profit as they legally can, and direct that windfall back to investors.
Microsoft cuts Russia operations due to Ukraine invasion – Bloomberg News
Microsoft Corp (MSFT.O) is substantially cutting its business in Russia in response to Moscow’s invasion of Ukraine, Bloomberg News reported on Wednesday.
Exclusive: UniCredit widens search for buyers to sell out of Russia
Italian bank UniCredit (CRDI.MI) has widened its search for a buyer for its Russian business beyond local investors, as it steps up efforts to leave the country, two people with knowledge of the matter said.
Russia should work on rouble payments for oil, grain and metals, Kremlin says
The Kremlin said on Wednesday that demanding rouble payment for exports of oil, grain, fertilisers, coal, metals and other key commodities in addition to natural gas was a good idea and should be worked on.
McDonald’s, Coca-Cola, Pepsi, and Starbucks have all halted their operations in Russia
The conflict between Russia and Ukraine has been a cause of tension for the global economy. Russia has always been a major exporter of natural gas, oil, and coal. The majority of Europe’s energy comes from its eastern neighbor. However, following Russia’s invasion of Ukraine, big international food and beverage companies are pulling out. Mc […]
Is Toshiba experiencing investor jitters?
Taro Shimada, Toshiba’s new CEO, will be having a glimpse of how his disgruntled shareholders must’ve been feeling. The Japanese company, which recently changed CEOs amid a contentious restructuring, wants memory-chip maker Kioxia and controlling owner Bain Capital to relaunch preparations for an initial public offering, however, it currently has a 41 % stake. At […]
