Despite what’s happening in Ukraine, it was not the responsibility of businesses to engage in politically-motivated exits, according to Goldman Sachs CEO David Solomon, as his bank decided to leave the country following a multitude of international corporations that have forfeited their operations in Russia. The task of deciding a boycott lies with the United…
It Is Not Wall Street’s Job To ‘Ostracize’ Russia: Goldman Sachs CEO
March 14, 2022
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Burger King Latest Food Company Restricting Russian Operations
March 11, 2022
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Burger KingBusiness & EconomyCompanieseconomic policieseconomyEuropeMarketsMcDonald's Corp.New Sanctions on RussiaRussia Ukraine invasionRussia-Ukraine WarUSUS NewsWorld
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Fast-food chain Burger King, with around 800 fully franchised outlets in Russia, has decided to pause all corporate support within the country, joining other companies taking similar retaliatory measures following Moscow’s incursion into Ukraine. In a statement March 10, Restaurants Brands International (RBI), the parent company of Burger King, said there are no corporate Burger King…
Lloyd’s of London Facing Billions in Losses After Russia Proposes to Retain Foreign Leased Aircraft
March 11, 2022
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Business & EconomyDemands RussiaEuropeLloyd's of LondonLloyd's UnderwritersMarketsNew Sanctions on RussiaRussia-Ukraine WarWorld
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Lloyd’s of London, a UK-based insurance and reinsurance market, is staring at potential losses worth billions of dollars after Russia threatened that it would seize planes owned by foreign entities. According to proposals made by the Russian transport ministry, based on multiple media reports, if foreign leasing companies that have leased planes to Russian airline…
Uniqlo Reversing Position, Announces Russia Exit
March 10, 2022
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Business & EconomyEuropeMarketsNew Sanctions on RussiaRussia-Ukraine WarRussian economy is set to shrinkUniqloWorld
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Japanese fashion brand Uniqlo has announced its exit from Russia after earlier saying it would continue operations, which drew widespread criticism amid global enterprises quitting en masse as a retaliatory action against the war in Ukraine. “While continuing our UNIQLO business in Russia, it has become clear to us that we can no longer proceed…
Oil Markets Weighing OPEC’s Ability to Compensate Russian Supply, Washington Might Remove Restrictions on Venezuelan Oil
The price of oil has dropped significantly in the two days since hitting its highest price level in over a decade on March 7, and is currently trading in an unpredictable manner as markets weigh in on the ability of the Organization of Petroleum Exporting Countries (OPEC) to fill the supply gap created by the…
Estimated 2,000–4,000 Russian Troops Killed, Putin Underestimated Ukraine: US Intelligence
March 9, 2022
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Russian President Vladimir Putin’s war against Ukraine cost the country thousands of soldiers as Kyiv has put up a staunch resistance against invading forces, American intelligence officials said during a March 8 hearing of the House Intelligence Committee. The number of Russian troops killed in the invasion to date is somewhere between 2,000 and 4,000,…
Gas Prices Break Record Again, up 15 Percent in Weekly Growth
March 8, 2022
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Biden administration energy policiesBusiness & Economycommoditieseconomic policieseconomyExecutive Branchgas priceshigher oil pricesinflationMarketsNew Sanctions on RussiaPoliticsRussian Oil TradeUSUS News
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The ongoing conflict between Ukraine and Russia has pushed up energy prices worldwide, with gasoline prices in the United States soaring to an all-time high on March 8. Critics have blamed the Biden administration’s insistence on diverting away from fossil fuels, a main contributor to the price hike. The average price of regular unleaded gas…
Oil Could Reach $300 a Barrel, Warns Moscow in Light of New Sanctions
March 8, 2022
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Business & EconomyEuropeMarketsNew Sanctions on RussiaNord Stream 1Oil priceRussia-Ukraine WarRussian Oil TradeUSUS NewsWorld
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Crude oil prices could reach more than $300 per barrel if the West goes ahead with its plan to sanction Russian energy supplies, Moscow warned in a statement on state television. “It is absolutely clear that a rejection of Russian oil would lead to catastrophic consequences for the global market,” Russian Deputy Prime Minister Alexander…
Russia Denies Cutting Off From Global Internet, Web Infrastructure Provider Disconnects Service in Country
Moscow has refuted media reports that suggest Russia is attempting to disconnect from the global internet, although the country had earlier successfully tested the idea, and a major infrastructure provider has now cut off services as part of international sanctions. “Russian websites are continuously being attacked by cyberattacks from abroad,” the Russian Ministry of Digital…
Brent Crude Hits $139 Per Barrel Following Challenges in Iran Deal and Potential Russian Oil Ban
March 7, 2022
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Brent crude oil prices breached $139 per barrel in early trade on March 7 due to the possibility of a ban on Russian oil exports as well as delays in a U.S.–Iran deal, which has been further complicated by the war in Ukraine. As it touched $139.13 a barrel, Brent crude prices broke through the…
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