New Jersey Democrats Approve Bill to Punish Towns Fighting Affordable Housing By Withholding State Grants and Financial Aid
NJ lawmakers give housing-compliant towns first shot at state grants Trenton, NJ – New Jersey’s Democrat lawmakers are making their point clear to municipalities across the state: build high density affordable housing,…
Facebook-backed Indian startup Meesho targets early 2023 for IPO – source
By Shivani Singh BENGALURU – Indian startup Meesho, which counts Facebook-owner Meta Platforms and SoftBank Group’s Vision Fund 2 as its investors, is aiming to go public in early 2023, a source…
Palladium scales 7-month peak, gold firms as Ukraine crisis rages on
By Bharat Gautam – Palladium raced to an over seven-month peak on Thursday in a rally sparked by concerns over supply from top producer Russia, while a relatively less hawkish Federal Reserve…
In China, a run on Russian chocolates as show of support
BEIJING – A Russian-run online store on Chinese e-commerce platform JD.com thanked Chinese shoppers for their support after it sold out of most items including chocolate and fabric softener, saying it showed…
Donerail drops plan to buy Turtle Beach, instead seeks to oust board -letter
By Svea Herbst-Bayliss BOSTON – Investment firm Donerail Group has abandoned plans to buy gaming equipment company Turtle Beach Corp and is instead seeking to oust all of its six board members…
Asian equities see outflows for second straight month in Feb
By Gaurav Dogra – Asian equities suffered a second successive month of outflows in February as investors jettisoned riskier assets due to rising tensions between Russia and Ukraine and on fears of…
Credit rating agency Scope downgrades Russia’s sovereign debt rating to ‘BB+’
– Credit rating agency Scope cut Russia’s sovereign debt ratings to BB+ on Tuesday and placed them under review for further downgrade, citing “severe strengthening” of the sanctions imposed on the country…
U.S.-traded Russian ETF tumbles 24% in deepening selloff
– The VanEck Russia ETF tumbled 24% on Tuesday as the Russia-Ukraine crisis deepened, fanning investor anxiety. The exchange-traded fund has declined about 60% in the past week as investors dump Russian…
Tiny imploding Russia fund draws rush of options bets
By Saqib Iqbal Ahmed NEW YORK – Options on a small, soon-to-be defunct exchange-traded fund tracking Russian stocks drew a rush of trading on Tuesday, as investors placed bets on what the…
Column-Ukraine crisis re-focuses world investment themes: McGeever
By Jamie McGeever ORLANDO, Fla. – “A major geopolitical realignment is taking place,” which, like 9/11, “shapes major governments’ foreign and military policies unpredictably for years to come.” So wrote Citi’s market…
Bank of Italy says it is ending COVID-related relief measures for banks
MILAN – The Bank of Italy said on Tuesday it would remove a number of relief measures on banking requirements that had been introduced to help lenders through the COVID-19 crisis. The…
Ukraine raises $273 million at debt auction for war effort, says finance ministry
LVIV – Ukraine raised 8.1 billion hryvnias ($273 million) on Tuesday at its first bond auction to raise money for its fight against Russia, the finance ministry said in a statement. After…
Exclusive-Nord Stream 2 owner considers insolvency after pipeline halt, sanctions -sources
By Aziz El Yaakoubi and Shariq Khan -The Swiss-based company which built the Nord Stream 2 gas pipeline from Russia to Germany is considering filing for insolvency, two sources familiar with the…
Inflation-protected funds see big outflows after feverish 2021
By Patturaja Murugaboopathy – Global inflation-protected bond ETFs have seen huge outflows this year, despite rising inflation levels, as investors prepare for price pressures to be tamed eventually by central banks. According…
Exclusive-Connecticut treasurer orders pension funds to divest Russian assets
By Ross Kerber Connecticut Treasurer Shawn Wooden on Tuesday will direct state pension funds to sell Russian assets, one of the most direct steps by a U.S. pension official to date in…
Russian oil tanker hit by U.S. sanctions heading to Malaysia
By Rozanna Latiff KUALA LUMPUR -A Russian-flagged ship targeted by U.S. sanctions and suspected of carrying Iranian oil is heading to Malaysia, shipping data showed on Monday, amid growing scrutiny of businesses…
China warns of ‘huge’ pressure on foreign trade as economic challenges mount
BEIJING -A top Chinese official warned on Tuesday that China’s economy faces multiple challenges at home and abroad this year, including “huge” pressure from uncertainty over global trade and from still-lacklustre domestic…
Europe carves out Russian securities from financial markets
By Huw Jones LONDON -Europe’s financial market on Monday began severing Russia’s ties to its critical plumbing for trading, clearing and settling securities as sanctions on Moscow started to bite. Euroclear in…
Container lines suspend shipments to Russia, Maersk considering
LONDON/COPENHAGEN -Container shipping company Ocean Network Express (ONE) on Monday suspended bookings to and from Russia while Maersk said it was considering doing the same in response to Western sanctions on Moscow…
Durr Rips Phil Murphy Over Nursing Home Deaths, Financial Problems in New Jersey Ahead of Prayer Vigil for Ukraine
TRENTON, NJ – New Jersey State Senator Ed Durr, the truck driver who upset Senate President Steve Sweeney in the 2021 election today ripped into Governor Phil Murphy’s crocodile tears being shed…
More investors join Russia exodus, find it hard to leave
By Simon Jessop, Karin Strohecker and Gwladys Fouche LONDON -The number of investors seeking to ditch their Russian holdings continued to grow on Monday following the country’s attack on Ukraine and despite…
Russian central bank orders block on foreign clients’ bids to sell Russian securities – document
MOSCOW -Russia’s central bank has ordered professional stock market participants to suspend the execution of all orders by foreign legal entities and individuals to sell Russian securities from Monday morning, an internal…
Google blocks RT, other Russian channels from earning ad dollars
By Paresh Dave Alphabet Inc’s Google barred on Saturday Russia’s state-owned media outlet RT and other channels from receiving money for ads on their websites, apps and YouTube videos, similar to a…
Twitter says its site is being restricted in Russia
By Elizabeth Culliford Twitter is being restricted for some users in Russia, the social media company said in a tweet on Saturday. On Friday, one day after Russia invaded Ukraine, Moscow said…
Factbox: EU sanctions target Russia’s economy, elites and Putin himself
– The European Union has imposed two packages of sanctions on Russia for launching an “unprecedented and unprovoked military attack against Ukraine”. Further sanctions, including the suspension of Russia’s access to the…
Europe at war: Six charts to know in financial markets
LONDON – Russia launched a full-scale invasion of Ukraine this week, sparking a slew of sanctions and turmoil in global financial markets. Below are six charts showing the week’s dramatic moves in…
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