Production at the Russian Volkswagen (DE:VOWG) plants in Kaluga and Nizhny Novgorod, which was suspended in early March, may not resume until the summer of this year, Vedomosti reports, citing two sources familiar with the German automaker’s plans. According to one of the interlocutors of the newspaper, so far the employees of the Kaluga plant […]

Oil prices are weakly rising on Monday after the maximum drop in almost 2 years at the end of last week. In the center of attention of traders remains the situation in China, where the growth of COVID-19 incidence continues, in connection with which the authorities maintain strict restrictive measures. Expectations of weakening demand for […]

At the end of last week, the MosBirch index rose by 11%. The technical picture shows that the indicator has found a strong support just above 2400 points, now it is necessary to consolidate above 2800 points to move to the next target around 3050. However, technical factors should not be relied on much now. […]

Revenue of the distributor of cars of the Chinese brand Chery (JSC “Chery Automobiles Rus”) according to RAS for 2021 soared four times – up to 62.2 billion rubles against 15.6 billion rubles in 2020, follows from the companies’ statements. The company’s net profit amounted to 1.9 billion rubles against a loss of 826 million […]

Due to cold weather, gas reserves in European storage facilities have dropped to almost 26%, and the US authorities are considering tougher anti-Russian sanctions – these and other important news for Monday morning, April 4, in our daily review. Due to the cold weather, European countries have again started to spend gas reserves from their […]

The main event of this week will be the minutes of the US Federal Reserve’s March meeting, which will be scrutinized on Wednesday, amid widespread expectations of a half-percent interest rate hike next month. Along with concerns over the economic impact of monetary tightening, events surrounding the Ukraine conflict will remain in the spotlight. While […]

Shares of social network Twitter (NYSE:TWTR) soared 26% in the premarket, trading data showed. The company’s shares rose on the news that SpaceX and Tesla (NASDAQ:TSLA) CEO Ilon Musk acquired a 9.2% stake in Twitter, Bloomberg reports.

European stock indices traded mostly lower on Monday, helped by positive sentiment in Asia, but pressured by talk of new sanctions against Russia. By 03:25 a.m. ET (07:25 GMT), Germany’s DAX was trading 0.6 percent lower, France’s CAC 40 was down 0.6 percent and Britain’s FTSE 100 was up 0.1 percent. Some European Union governments […]

The German government is considering nationalizing the property of 2 Russian energy giants, which occupy a significant place in Europe’s largest economy: according to Handelsblatt, Gazprom Germania manages the country’s gas storage facilities, and Rosneft Deutschland accounts for a quarter of Germany’s oil refining business, Business Insider reports. In addition, Berlin is also considering expropriating […]

The U.S. Department of the Treasury has blocked payments of the accrued coupon and principal on the Russia-2022 Eurobond issue, scheduled to mature on April 4, from Russia’s frozen international reserves, Bloomberg reported, citing an unnamed OFAC official (a division of the agency responsible for sanctions enforcement). Also scheduled for April 4 was the payment […]

Russia’s March 2022 services PMI stood at 38.1 points, down sharply from February’s reading of 52.1 points, S&P Global research reported. “The latest data show a marked decline in business activity in Russia’s services sector, contrasting with the modest expansion seen in the previous period,” the release said. The composite output index, which tracks activity […]

The U.S. market rose on Monday after billionaire Elon Musk became Twitter (NYSE:TWTR)’s largest shareholder, driving the social media company’s stock higher along with the rest of the technology stocks. Twitter shares are up nearly 30%. Musk, who is being investigated by regulators for his own use of the platform, received a 9.2% stake and […]

In March this year, electricity consumption in Russia as a whole amounted to 103.1 bln kWh, which is 3.0% more than the same indicator for 2021. Electricity consumption in the Unified Energy System of Russia in March 2022 amounted to 101.5 billion kWh, which is 2.9% more than the consumption volume for March 2021, according […]

There is still no consensus among EU countries on whether to extend sanctions against Russia to energy imports: the debate over an immediate ban on Russian gas, oil and even coal has divided the bloc, as some countries support a ban on Russian energy imports, while others are too dependent on energy and such sanctions […]

In Q1 of this year, Exxon Mobil Corp (NYSE:XOM), the largest oil and gas company in the United States, expects a significant increase in net income compared to Q4 of last year due to higher energy prices. ExxonMobil said in a statement that the rising price of liquid hydrocarbons added $1.9-2.3 billion to the company’s […]

The largest shareholder of Tesla (NASDAQ:TSLA), Ilon Musk, whose fortune is estimated at $219 billion, has become the richest person in the world. This is reported by Forbes with reference to the data of the rating of the richest people in the world according to the publication. The businessman took the first line for the […]

Germany’s economy ministry announced Monday that Berlin has taken control of the local unit of Russian gas giant Gazprom, saying Gazprom Germania violated the country’s foreign trade law, Business Insider writes. The move came after the Economy Ministry learned that the Gazprom unit in question had been acquired by Palmary SA and Gazprom Export Business […]

European stock indices are trading mixed on Tuesday, with investors assessing the possibility of new sanctions against Moscow, which could lead to a rise in commodity prices and fuel concerns about inflation. By 03:40 a.m. ET (07:40 GMT), Germany’s DAX index was trading 0.4 percent higher, France’s CAC 40 was up 0.1 percent and Britain’s […]