By Julia Horowitz, CNN Business In less than a week, Russian assets have become practically untouchable for Western investors, who see no reason to expose themselves to a pariah economy that could be crushed by sanctions. Financial transactions also look increasingly difficult to execute and risk running afoul of regulators. “It’s very difficult to see
Continue Reading
By Charles Riley, CNN Business Russian billionaires Mikhail Fridman and Oleg Deripaska have broken ranks with the Kremlin and called for an end to Russia’s war in Ukraine. Fridman, who was born in western Ukraine, wrote in a letter to staff that he wanted the “bloodshed to end.” “My parents are Ukrainian citizens and live
Continue Reading
By Charles Riley, CNN Business The West has pledged to remove some Russian banks from SWIFT, a messaging service that connects financial institutions around the world, as part of a barrage of sanctions designed to limit Moscow’s ability to pay for its war in Ukraine. The United States, the European Union, the United Kingdom and
Continue Reading By Charles Riley, CNN Business The West has pledged to remove some Russian banks from SWIFT, a messaging service that connects financial institutions around the world, as part of a barrage of sanctions designed to limit Moscow’s ability to pay for its war in Ukraine. The United States, the European Union, the United Kingdom and
Continue Reading
By Mark Thompson, Anna Chernova and Vasco Cotovio, CNN Business Russia was scrambling to prevent financial meltdown Monday as its economy was slammed by a broadside of crushing Western sanctions imposed over the weekend in response to the invasion of Ukraine. President Vladimir Putin held crisis talks with his top economic advisers after the ruble
Continue Reading
By Brian Fung, CNN Business Google will no longer allow Russian state media outlets to run ads, following a similar decision on Saturday by the tech giant’s video subsidiary, YouTube. “In response to the war in Ukraine, we are pausing Google monetization of Russian state-funded media across our platforms,” Google said in a statement to
Continue Reading
By Brian Fung, CNN Business Google will no longer allow Russian state media outlets to run ads, following a similar decision on Saturday by the tech giant’s video subsidiary, YouTube. “In response to the war in Ukraine, we are pausing Google monetization of Russian state-funded media across our platforms,” Google said in a statement to
Continue Reading
By David Goldman and Laura He, CNN Business Stock markets fell and oil prices surged Monday as investors grew increasingly concerned about the consequences of Russia’s invasion of Ukraine. European markets opened lower, as the West continued to impose fresh sanctions on Russia. In early trade the United Kingdom’s FTSE 100 fell 1%, the German
Continue Reading
By Jordan Valinsky, CNN Business Russian-made alcohol is the latest target in the growing backlash against the country’s invasion of Ukraine. So far, officials in Ohio, Utah and New Hampshire have called on liquor stores to remove Russian-made or Russian-branded products from shelves, a move that largely targets vodka since it’s most closely associated with
Continue Reading
By Ramishah Maruf, CNN Business BP is cutting ties with Rosneft in response to Russia’s invasion of Ukraine. The British company said in a statement Sunday that it would exit its 19.75% stake in the Russian state oil giant, describing Moscow’s decision to attack its neighbor as “an act of aggression which is having tragic
Continue Reading
By Ramishah Maruf, CNN A federal grand jury in San Diego indicted the founder of BitConnect for allegedly orchestrating a $2.4 billion global Ponzi scheme, the Justice Department said Friday. Satish Kumbhani, 36, is accused of misleading investors about the cryptocurrency’s “lending program,” where he claimed the proprietary technology would bring substantive returns to investors
Continue Reading
By Emma Tucker, Melissa Alonso and Jackie Wattles, CNN A shipment of Starlink user terminals — small antennas that allow customers to access SpaceX’s satellite-based internet service — arrived in Ukraine Monday, providing a back stop for Ukrainians who may see their traditional service interrupted amid the Russian invasion. SpaceX founder and CEO Elon Musk
Continue Reading
By Parija Kavilanz, CNN Business As Covid restrictions ease, expect to see more malls morph into family entertainment destinations where shopping may not even be what draws shoppers in. Retail analysts say it’s become necessary for mall operators to diversify the in-mall experience beyond shopping in order to stay relevant to consumers — especially as
Continue Reading By Jordan Valinsky, CNN Business Russian-made alcohol is the latest target in the growing backlash against the country’s invasion of Ukraine. So far, officials in Ohio, Utah and New Hampshire have called on liquor stores to remove Russian-made or Russian-branded products from shelves, a move that largely targets vodka since it’s most closely associated with
Continue Reading
By Julia Horowitz, CNN Business Russian President Vladimir Putin’s decision to invade Ukraine last week shattered the security order in Europe that has existed since the end of the Cold War. It’s also compelled investors to consider whether they need to adjust to a world that’s changed for good. “I believe that Russia’s invasion of
Continue Reading
By Frank Pallotta, CNN Business Robert Pattinson will be the latest actor to don the cape and cowl on the big screen in “The Batman,” which hits theaters on Friday. The Warner Bros. film is anticipated to be one of the biggest blockbusters of the year: Films based on Batman have notched more $5 billion
Continue Reading
By Frank Pallotta, CNN Business “Saturday Night Live” returned from a nearly monthlong hiatus without a cold open. Instead of a funny satirical sketch, the NBC variety show chose to present a powerful tribute to the country of Ukraine. The tribute follows Russia launching an unprecedented military assault on the country earlier this week. The
Continue Reading By Frank Pallotta, CNN Business “Saturday Night Live” returned from a nearly monthlong hiatus without a cold open. Instead of a funny satirical sketch, the NBC variety show chose to present a powerful tribute to the country of Ukraine. The tribute follows Russia launching an unprecedented military assault on the country earlier this week. The
Continue Reading
By Ramishah Maruf, CNN YouTube said Saturday that it will temporarily halt the ability of a number of Russian channels, including state-sponsored RT, to monetize their content on the platform. It will also be “significantly limiting” recommendations to those channels, YouTube said in a statement. The company said the channels are affiliated with recent sanctions,
Continue Reading
By Chris Isidore, CNN Business Russia isn’t a superpower, at least not when it comes to the global economy. Its gross domestic product puts it as only the 12th largest economy in the world according to the International Monetary Fund, about 25% smaller than Italy and more than 20% smaller than Canada, two countries with
Continue Reading