Retailer Detsky Mir posted a net loss of RUB 517 mln in 1Q 2022 compared to a profit of RUB 1.313 bln in 1Q 2021 (IAS 17 figures). EBITDA decreased by 9.8% to RUB 2.553 billion. The profitability of this indicator amounted to 6.7% against 7.9% a year earlier, the retailer said in a statement. […]

The Bank of Russia wants to oblige credit organizations to suspend for two days the crediting of money to accounts whose information is contained in the regulator’s database, Vadim Uvarov, director of the Central Bank’s information security department, said in an interview with Izvestia. The Central Bank’s database collects information on cases and attempts to […]

This week, investors will turn their attention to retail sales and retailer earnings data, as well as comments from U.S. Federal Reserve officials, including its head Jerome Powell, looking for clues about the future trajectory of interest rates. Friday’s rebound in the stock market late last week came amid hopes that the market was close […]

The CEO of the largest cryptocurrency exchange Binance Changpeng Zhao criticized the proposal of Terra management to save the project through blockchain branching. The corresponding statement he made on his Twitter account. Zhao said on Twitter that Do Kwon’s plan to save Terraform Labs, which he heads, through a fork is doomed to failure. Zhao […]

The cryptocurrency sector moved back into negative territory on Monday after a momentous week for the industry. According to QCP Capital, the collapse of Terra (LUNA) marks “the largest wealth destruction event in the brief history of the crypto market.” The Terra USD Stablecoin lost 1-to-1 parity against the US dollar and trades at 0.13, […]

The World Economic Forum (WEF) has described possible variants of the impact of the Russian military operation in Ukraine on global trade. The conflict has resulted in “unprecedented trade and other economic sanctions,” while “rising geopolitical tensions raise questions about the implications for the global trading system,” the experts said in their forecast. They identified […]

Last Sunday, Goldman Sachs CEO Lloyd Blankfein said that “there is a very high risk factor that the United States is approaching a recession.” In an interview with CBS News, Blankfein said that the risk of a recession definitely exists and that businesses and consumers should prepare for such a scenario. However, the bank executive […]

The net loss of Ireland’s Ryanair Holdings Plc, Europe’s largest discount airline, narrowed 65%, or 2.8 times, to 355 million euros in the fiscal year ended March 31, compared with a loss of 1.01 billion euros in the same period a year earlier. The consensus forecast of analysts polled by FactSet called for a figure […]

The index committee of the Vienna Stock Exchange (Wiener Boerse) for Central and Eastern Europe (CEE) and CIS countries decided to exclude 14 securities of sanctioned Russian companies from the relevant indices at zero price, according to the review of BCS Global Markets (BCS GM). The list includes Gazprom (MCX:GAZP), Sberbank (MCX:SBER), LUKOIL (MCX:LKOH), Rosneft […]

The negative foreign trade balance of the eurozone (with countries that are not members of the eurozone) in March 2022 amounted to 16.4 billion euros compared to a deficit of 7.6 billion euros in February, according to Eurostat data. In March last year, the eurozone’s foreign trade surplus amounted to 22.5 billion euros. In January […]

McDonald’s fast food restaurant chain has announced that it will finally leave Russia, RBC reports. The company’s business in Russia will be sold. Earlier it became known that McDonald’s suffered losses of $127m as a result of the suspension of work in Russia and Ukraine.

Saudi Arabia reported a budget surplus of 57.5 billion riyals ($15.3 billion) in the country’s first quarter of this year amid continued spending restraint despite rising oil revenues, Bloomberg writes. The country’s total government revenue totaled 278 billion rials, up 36% from the same quarter a year ago, while spending rose 4% over the same […]

According to Bank of America, U.S. corporations can save the country’s stock market by returning some cash to investors, writes Business Insider. The bank estimates that U.S. corporations have $7.1 trillion in liquid assets that could be returned to investors through dividends and buybacks. “Corporate debt levels are the lowest in decades, providing ample opportunity […]

Consumer prices in the UK jumped 9% in April 2022 compared to the same month last year, data from the country’s Office for National Statistics (ONS) showed. The rise was the highest in more than 40 years. Inflation accelerated from March, when consumer prices rose 7%. Analysts polled by Bloomberg on average expected consumer inflation […]

The Ministry of Economic Development forecasts an average annual dollar exchange rate of 76.7 rubles/$ in 2022, 77 rubles in 2023, 78.7 rubles in 2024, and 2025. – 81 rubles. As a representative of the ministry told reporters, such figures are included in the basic version of the main parameters of the scenario conditions of […]

The US stock market rose thanks to positive statistical data showing that the US economy remains resilient despite a significant tightening of monetary policy by the Federal Reserve (Fed). Fed chief Jerome Powell said during the Future of Everything Festival event organized by The Wall Street Journal that the U.S. central bank has the necessary […]

The U.S. economy is “undoubtedly” headed for a downturn, said Wells Fargo & Co. chief executive Charles Scharf. Charles Scharf. “It’s going to be hard to avoid some kind of recession,” Scharf said during a Future of Everything Festival event organized by The Wall Street Journal. The Federal Reserve (Fed) has raised rates by 75 […]

The Bank of Russia has registered an issue of subordinated bonds of Sovcombank series T2-01 in the amount of $600 mln, the regulator’s website reports. The issue was assigned registration number 4-15-00963-B. The circulation term of the issue is 8.5 years, the possibility of early redemption at the discretion of the issuer is provided. The […]