Microsoft data centres to heat Finnish homes, cutting emissions
Finnish utility Fortum (FORTUM.HE) said on Thursday it will use waste heat from two new Microsoft (MSFT.O) data centres to warm homes and businesses in and around the ...
Russians have up to $213 billion stashed offshore in Swiss banks
Switzerland’s secretive banks hold up to $213 billion of Russian wealth, the country’s financial industry association estimates, as sanctions on Russia give a rare glimpse inside Swiss vaults.
The ...
Russian sovereign bond payment received by JPMorgan and processed
Coupon payments on Russian sovereign bonds due this week were received by correspondent bank JPMorgan (JPM.N), processed and the bank then made an onwards credit to the paying agent ...
Russia sanctions pierce luxury jet world’s ultra-private bubble
The gleaming, late-model European jet for sale was a rarity in the hot market for second-hand corporate aircraft.
It was only after aviation lawyer Amanda Applegate’s client did some ...
Be ready to lose all your money in crypto, EU regulators warn
Consumers risk losing all their money invested in cryptoassets and could fall prey to scams, the European Union’s securities, banking and insurance watchdogs said in a joint statement on ...
Moscow sets out strict new controls on foreigners trading Russian assets
Russia laid down strict new rules for foreigners seeking permits to buy and sell Russian assets ranging from securities to real estate, a client memo by Citigroup (C.N) showed, ...
Handbags at dawn: Chanel duels South Korean resellers in luxury boom
As COVID curbs cut travel and duty-free shopping, South Koreans are driving a luxury goods boom at home that has left Chanel barring nearly a third of would-be shoppers to ...
Dubai grants crypto exchange Binance a virtual asset licence
The world’s largest cryptocurrency exchange Binance has been granted a licence to conduct some operations in Dubai, the company said on Wednesday, from where it plans to carry out ...
Russian law on leased jets could help in claiming insurance
A new Russian law on leased aircraft showed Moscow could “confiscate” planes and such a move might help it claim insurance, Air Lease Corp (AL.N) said at a time ...
Oil surges after IEA warns of shortfall in supply
Oil prices climbed about 3 per cent on Thursday after the International Energy Agency (IEA) said markets could lose three million barrels a day (bpd) of Russian crude and refined products ...
Airline industry asks for removal of all Covid-19 restrictions
Airports Council International (ACI Europe) and the International Air Transport Association (IATA) on Monday asked for the removal of all Covid-19 travel restrictions currently in force for trips within the ...
Three million barrels of Russian oil, products could be shut in next month: IEA
Three million barrels per day (bpd) of Russian oil and products may not find their way to market beginning in April in the wake of its invasion of Ukraine, the ...
BMW, Michelin hit by supply-chain disruption, Publicis cedes control in Russia
Michelin and BMW were among the latest companies on Wednesday to warn of disruption to their operations from Russia’s invasion of Ukraine, while ad group Publicis said it had ...
Euro jumps as Russian Foreign Minister sees hope for compromise with Ukraine
The euro jumped on Wednesday and was set for its third consecutive daily gains versus the dollar on Wednesday after Russian Foreign Minister Sergei Lavrov said peace talks with Ukraine ...
Can Russia pay its creditors, and what happens if not?
Russia is due to pay $117 million in interest on two dollar-denominated sovereign bonds on Wednesday – the first such payments since its invasion of Ukraine which sparked a raft of sanctions ...
Sanctions-savaged Russia teeters on brink of historic default
The economic cost of Russia’s assault on Ukraine was fully exposed on Wednesday as Vladimir Putin’s sanctions-ravaged government teetered on the brink of its first international debt default ...
ECB puts Russians in EU, even residents, under scanner
European Union regulators have told some banks to scrutinise transactions by all Russian and Belarusian clients, including EU residents, to ensure that they are not used to circumvent Western sanctions ...
Sanctions impact cruise line industry
The impact of Russia’s invasion of Ukraine inevitably impacted the cruise line industry, with all major cruise companies rapidly seeing the adverse effects of both the conflict and the ...
Muted reaction to potential bitcoin regulation in the US
Bitcoin loves flirting with the mainstream. But now, as the US president says he wants to get serious, it may be getting cold crypto feet.
When Joe Biden ordered officials ...
Shell directors may face lawsuit over climate transition plans
Environmental lawyers ClientEarth said on Tuesday they were preparing legal action against the directors of Shell (SHEL.L) over the company’s climate transition plan, in what they said would ...
Investors see risks spiking, fear market-wide liquidity crunch
Wild swings in asset prices following Russia’s invasion of Ukraine are prompting some investors to pare risk in their portfolios, fearing that the type of volatility seen in commodities ...
UK unemployment falls below pre-pandemic rate
Britain’s unemployment rate dropped below its pre-pandemic rate in the three months to January while pay rose faster than expected, according to official figures that are likely to bolster ...
Turkey to keep policy rate at 14 per cent despite energy surge
Turkey’s central bank is expected to hold its policy rate at 14 per cent this week, a unanimous Reuters poll showed on Monday, despite the Ukraine conflict and soaring energy ...
As West shuns Moscow, officials say India eyes more cheap Russian oil
India may take up a Russian offer to buy crude oil and other commodities at a discount, two Indian officials said, in a sign that Delhi wants to keep its ...