Bloomberg Citigroup Inc, in the midst of overhauling its businesses in Russia when the country went to war, has seen efforts to sell a consumer-banking unit there stall and is helping some employees transfer abroad. The moves show how Vladimir Putin’s invasion of Ukraine has quickly made the future less certain for many of Citigroup’s roughly 3,000 workers in …

  Bloomberg Equity-index futures and European stocks fell amid concern US inflation may have accelerated for a sixth month, with investors turning to the European Central Bank to gauge policy makers’ response to the war in Ukraine. Contracts expiring this month on the S&P 500 and Nasdaq 100 indexes slid at least 0.2% each after US stocks posted the biggest …

  Bloomberg Bitcoin dropped back below $40,000, erasing almost all the gains sparked by optimism about US President Joe Biden’s executive order to put more focus on the crypto sector. The largest cryptocurrency declined as much as 7.2% to $38,894, falling for the first time in three days. Ether dropped as much as 5% to $2,574. Most of the top …

  Bloomberg Gold extended losses after posting the biggest decline in 14 months as risk sentiment improved following indications that Ukraine is ready for a diplomatic solution with Russia. Bullion is paring some of its gains this year as demand for haven assets eases following remarks from a top foreign policy aide to President Volodymyr Zelenskiy. The official said Ukraine …

  Bloomberg Natural gas in Europe declined as traders weighed the region’s reluctance to sanction Russian supplies and the potential easing of retaliatory action by Moscow. Benchmark Dutch futures fell as much as 21%, after swinging wildly between gains and losses. While the European Commission has said it plans to reduce Russian gas imports by two-thirds this year, finding alternatives …

Bloomberg Cathay Pacific Airways Ltd is once more burning through cash as Hong Kong’s spiraling Covid-19 outbreak reduces the airline’s flying to a trickle. The carrier will go through between HK$1 billion ($128 million) and HK$1.5 billion every month “until conditions improve,” CEO Augustus Tang said. It’s a swift and bleak reversal for the city’s marquee airline. Tang said in his …

Bloomberg India will resume scheduled international flights after two years from March 27 and end air-bubble arrangements, the aviation regulator said. The move may spell a further boost for Indian carriers, which are adding back capacity as more people take to the skies with Covid-19 infections receding and vaccination cover increasing. Falling infections have paved the way for relaxations in …

Bloomberg Russia’s decision to block foreign owners from seizing hundreds of planes worth about $10 billion is roiling a market where aircraft leases are bundled into bonds and sold to investors. European Union sanctions imposed on Russia because of its Ukraine invasion give plane owners until March 28 to retrieve the vehicles. But only a handful have been extracted, and …

Bloomberg Add Amazon.com Inc to the list of companies that have been outmaneuvered by Mukesh Ambani’s juggernaut. Not only has he jolted the US giant in the fight to dominate India’s retail sector, he now holds all the cards in a $3.4 billion dogfight to buy a local cash-strapped retailer. Ambani’s Reliance Industries Ltd in late-February quietly began poaching employees …

  Bloomberg The UK ratcheted up its sanctions against Vladimir Putin’s administration by banning all Russian aircraft from landing and overflying Britain, and prohibiting aviation and space-related exports. The aviation export ban covers technology and components as well as insurance and reinsurance products, the Foreign Office said. That means cover is withdrawn on existing policies, and insurers are forbidden from …