Swedish mobile network equipment manufacturer Ericsson has decided to suspend its business in Russia for an indefinite period of time, Kommersant reports. At the end of February, the company stopped supplying products to Russia. According to the publication’s sources, Ericsson’s share in the Russian telecommunications market is up to 20%. “At the end of February, […]

WarnerMedia (owned by AT&T) and Discovery (NASDAQ: DISCA) have finalized the merger of their media assets into a new company, Warner Bros Discovery, Reuters reports. WarnerMedia and Discovery announced the deal to merge into a new company last May. Warner Bros Discovery will begin trading on the NASDAQ stock exchange under the ticker WBD on […]

The European Union has banned flights of 20 more Russian-certified airlines due to the fact that their airplanes “do not meet international safety standards”. This is stated in the document of the European Union, posted on the website of the European Commission. Among the listed airlines are Aeroflot (MCX:AFLT) and its subsidiaries (Pobeda and Rossiya), […]

The exchange price of palladium increased by 4% and reached $2530 per ounce. This is reported by Bloomberg with reference to the data of the London Metal Exchange. At the end of last week, the London Platinum Group Metals Association (LPPM) withdrew the Good Delivery status from Krasnoyarsk Gulidov Non-Ferrous Metals Plant (Krastsvetmtet) and Prioksky […]

Tinkoff Bank (LON:TCSq) has temporarily disabled the ability to buy all currencies except dollars, euros, pounds and yuan in its app amid a shortage of currency on the Moscow Exchange, RBC reports. “Temporarily disabled the ability to buy all currencies except dollars, euros, pounds and yuan. There is not enough currency on the Moscow Exchange, […]

Last Thursday, Tesla CEO Ilon Musk inaugurated the company’s new plant in Austin, Texas, which is the company’s fourth plant in the world and will produce the Model Y SUV and next year’s Cybertruck. However, according to some experts, Tesla is still only a fledgling electric car maker, Yahoo writes. Kevin Paffrath, known for his […]

In March 2022, consumer prices in Germany, calculated according to national standards, increased by 7.3% compared to the same month in 2021, after rising by 5.1% a month earlier, final data from the country’s Federal Statistical Office (Destatis) showed. Relative to the previous month, prices increased by 2.5%. The dynamics of indicators coincided with the […]

The Japanese Foreign Ministry has announced sanctions against 398 Russian citizens, 26 companies and two Russian banks – Alfa Bank and Sberbank (MCX:SBER) – in connection with the situation around Ukraine. According to a statement published on the website of the Japanese foreign ministry, “in order to maintain international peace and security and make Japan’s […]

Natural gas futures prices rose during the U.S. session on Monday. At the New York Mercantile Exchange, natural gas futures for delivery in May are trading at $6.61 per million Btu, up 5.21% at the time of writing this commentary. The session high was $/mmBtu. At the time of writing, natural gas found support at […]

VTB (MCX:VTBR) has improved terms on cash loans from April 12, reducing rates by 3 p.p. on average. The minimum rate for customers is from 15.9% subject to insurance and an additional discount of 0.4 p.p. for applying on the bank’s website or in VTB Online, the bank said in a press release. Reportedly, a […]

OPEC told the European Union that it is impossible to substitute oil from Russia, and Alexei Kudrin said that the official forecast of GDP decline will be more than 10% – these and other important news for Tuesday morning, April 12, in our daily review. The Organization of Petroleum Exporting Countries (OPEC) told the European […]

Unemployment in the UK, calculated according to the methodology of the International Labor Organization (ILO), December 2021-February 2022 was 3.8%, according to data from the National Statistics Office (ONS) of the country. In September-November, the figure was 4.0%. There were 1.296 million unemployed people in December-February, 409,000 fewer than a year earlier and 86,000 fewer […]

U.S. stock indexes fell Monday as rising Treasury yields, which move inversely to stock prices, sent technology stocks tumbling. Investors are preparing for Tuesday’s release of U.S. inflation data for March, which many expect to show the highest price increases in 4 decades. However, the labor market is also at multi-year highs in terms of […]

Finnish telecommunications equipment maker Nokia is withdrawing from the Russian market, according to the company’s website. “In recent weeks we have suspended deliveries, stopped new business and are moving our limited R&D activities outside Russia,” the statement said. CEO Pekka Lundmark told Reuters the company sees “no opportunity to continue [business] in the country under […]

Shares of Russian Rosbank soared 39.83% at the opening of trading on April 12, their value reached 133.4 rubles per unit, according to the data of the Moscow Exchange. Quotes began to grow after the investment company Interros announced on Monday its intention to acquire a stake in the capital of Rosbank, owned by the […]

European stock indexes fell sharply on Tuesday as investors are cautious ahead of key central bank meetings while inflation is rising sharply and the ongoing conflict in Ukraine is likely to escalate. By 03:40 a.m. ET (07:40 GMT), Germany’s DAX index was trading 1.9 percent lower, Britain’s FTSE 100 was down 0.9 percent and France’s […]

Russian President Vladimir Putin has instructed the government to double the tourist cacheback for travel to the Far East. “We will develop all areas of activity, we will develop tourism, including to the Far East. Speaking of which, I asked the government to double the cacheback for those who travel to the Far East region,” […]

U.S. inflation hit its highest level in 40 years in March, which will increase pressure on the Federal Reserve to tighten monetary policy. China’s head of government called for accelerated stimulus to mitigate the effects of the spread of quarantine due to COVID-19. Business sentiment in the German economy deteriorated, with OPEC and the U.S. […]