Global banks such as Citigroup Inc, JPMorgan Chase & Co, and Societe Generale are under pressure from rivals and funds to commit to remaining as custodian banks in Russia, as rivals and funds fear losing services vital to future investment in the nation. Three other financial institutions’ traders, bankers, and executives told Reuters they were…
KoBold Metals, a mineral exploration business backed by billionaires such as Jeff Bezos and Bill Gates, announced on Thursday that it would commence drilling for crucial elements used in electric vehicles in Greenland. Last year, KoBold, which searches for raw minerals using artificial intelligence and machine learning, acquired a 51 per cent share in the…
According to recent data, the cost of living in Russia is increasing as a result of the country’s invasion of Ukraine. According to official data, the price of basic household commodities, such as sugar, has risen by as much as 14 per cent in the last week. Inflation is expected to continue to rise in…
Following Russia’s invasion of Ukraine, a jump in prices of sunflower oil has created an opportunity for growers of one of Spain’s most well-known products – olive oil. Even though Spanish stores limited sunflower oil purchases to a few bottles per person, stocks were quickly depleted, pushing businesses to stock up on the local alternative. “I…
ING Groep NV, one of the first big global banks to pledge to such a move in the battle against climate change, has announced that it will no longer fund new projects in oil and gas sector. The decision by the Dutch financial services business puts pressure on its colleagues to heed the International Energy Agency’s…
Kohl’s revealed on Monday that it has received a number of preliminary offers from parties interested in buying the department store chain. In a news release, Kohl’s stated that the ideas are nonbinding and do not include any guarantees of funding. Goldman Sachs bankers have been appointed by the company’s board of directors to coordinate…
After reporting a doubling of earnings in 2021, Saudi Aramco, the state-owned oil behemoth of Saudi Arabia, expects to significantly increase its investment in energy production. Over the next five years, the company wants to considerably increase output. Demand for oil and gas has outstripped supply in recent months, driving up energy costs. The crisis…
As China battles its greatest Covid-19 epidemic since the pandemic began, consumption is expected to be the hardest hurt, while producers find methods to keep producing. Mainland China reported a drop in new confirmed cases for the second day in a row on Wednesday. According to National Health Commission data, the 1,226 new locally transmitted…
As businesses around the world struggle to figure out how to manage their environmental footprints, Normative, a Swedish start-up sponsored by Google, has released a free version of its carbon emissions tracker. The carbon calculator is intended to give a “baseline” from which small and medium-sized organisations can take action after entering data into a…
There was a 20 per cent fall in the sales in the first two weeks of March, according to the owner of KFC and Pizza Hut, as a wave of new Covid-19 outbreaks emerge from more p[laces across China. Yum China warned that “the situation has drastically deteriorated,” citing regional lockdowns as a means of containing the outbreak. More…
