Ukraine
Credit Suisse reports quarterly loss, reshuffles management team as litigation costs bite
One of the biggest challenges for Credit Suisse this quarter was litigation costs. Thi My Lien Nguyen | Bloomberg | Getty Images Credit Suisse on Wednesday reported a net loss for the first quarter of 2022 and announced a management reshuffle, as the Swiss lender struggles with litigation costs and the fallout from the Russia-Ukraine […]
Read More
Russia halts gas supplies to Poland; Pentagon chief calls Russia nuclear rhetoric ‘dangerous’
Russia halts gas supplies to Poland as tensions with the West rise 03 March 2022, Russia, St. Petersburg: A flag with the Gazprom logo flies at a branch of the Russian state-owned corporation in St. Petersburg. Igor Russak | Picture Alliance | Getty Images Russia has halted gas supplies to Poland on Wednesday, with supplies […]
Read More
Deutsche Bank posts seventh straight quarter of profit, warns of increasing cost pressures
Bloomberg | Bloomberg | Getty Images Deutsche Bank reported Wednesday a net profit of 1.06 billion euros ($1.13 billion) for the first quarter of the year. Analysts had forecast a figure of 1.01 billion euros for the three-month period, according to data from Refinitiv. On Mar. 11, Deutsche Bank said it would wind down its Russia […]
Read More
Wall Street is worried inflation and supply issues may dent GM and Ford earnings more than previously expected
The General Motors world headquarters office is seen at Detroit’s Renaissance Center. Paul Hennessy | LightRocket | Getty Images DETROIT — There’s growing concern among Wall Street analysts that higher costs and supply chain disruptions will put pressure on 2022 earnings for General Motors and Ford Motor — even more than initially expected. Ahead of […]
Read More
UBS beats expectations for the first quarter; continues to reduce Russia exposure
UBS has beat expectations for the first quarter of 2022 and said it has further reduced its exposure to Russia. The Swiss bank on Tuesday reported net profit attributable to shareholders of $2.136 billion, above forecasts compiled by the bank of $1.79 billion. It marks a 17% rise from the $1.82 reported for the same period […]
Read More
The threat of nuclear war is real, top Russian official says; U.S. wants to see Moscow ‘weakened’. Follow our live updates
Risk of nuclear war now ‘very, very significant,’ Russia’s foreign minister says Russian Foreign Minister Sergei Lavrov speaks during a news conference after his talks with Bahrain’s Foreign Minister Abdullatif al-Zayani in Moscow, Russia, April 7, 2022. Alexander Zemlianichenko | Reuters The risks of nuclear war are now very significant and should not be underestimated, […]
Read More
Top U.S. officials visit Ukraine, pledge more military aid and to re-open embassy in Kyiv
U.S. pledges more war funding for Ukraine and plans to re-open embassy in Kyiv U.S. Secretary of State Antony Blinken and Defense Secretary Lloyd Austin arrived in Ukraine to discuss military aid with Ukraine’s President Volodymyr Zelenskyy on Sunday. The visit, which saw the senior U.S. officials meet with Ukraine’s Foreign Minister Kuleba as well […]
Read More
Blinken, Austin meet with Zelenskyy in Kyiv, a wartime first for top U.S. officials
U.S. Secretary of State Antony Blinken (L) and U.S. Defense Secretary Lloyd Austin in Washington, DC, on April 11, 2022. NBC News reports Blinken and Austin slipped into Ukraine on Sunday for an extraordinary wartime meeting with President Volodymyr Zelenskyy, bringing new promises of military and diplomatic support. Michael Mccoy | Afp | Getty Images […]
Read More
Russia’s invasion of Ukraine enters third month; senior U.S. government officials due in Kyiv
Russia continuously shelling Mariupol, Ukraine presidential advisor says Mykhailo Podolyak, a presidential advisor in Ukraine, says Russia continues to shell the besieged city of Mariupol and has called for a “real Easter truce.” “Russia is continuously attacking the Mariupol Azovstal. The place where our civilians and military are located, is shelled with heavy air bombs […]
Read More
Russia was Pepsi’s second-largest international market. What happens next now that it’s pulled out?
Following Moscow’s invasion of Ukraine, multinational companies have withdrawn from Russia in staggering numbers. As of April 22, more than 700 U.S. companies have scaled back, suspended or exited their Russian businesses, including Starbucks, McDonald’s and Pepsi, according to the Yale School of Management. Russia is Pepsi’s second-largest international market, after Mexico. The company generated […]
Read More