March, 2022

• 21 March

  Australia boosts military aid to Ukraine

  

    Bloomberg Australia is stepping up military and humanitarian aid for Ukraine to assist in its war against Russia. Prime Minister Scott Morrison’s government will offer an additional $15.6 million of military support for Ukraine, including unspecified material from the Australian Defence Force’s stocks. It’s also pledging another A$30 million in humanitarian assistance as well as at least 70,000 tonnes ...

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• 21 March

  Swiss banks hold $200bn in stashed Russian cash

  

    Bloomberg Swiss banks may hold more than $200 billion of Russian wealth, the country’s banking lobby estimates, as sanctions shine a spotlight on the extent of Russian wealth stored in overseas vaults. Banks probably hold between 150 billion ($160 billion) and 200 billion Swiss francs of Russian client money in offshore accounts, according to the Swiss Bankers Association. Credit ...

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• 21 March

  Goldman Sachs gives first-year legal chief $17.5 million

  

    Bloomberg Goldman Sachs Group‘s legal chief Kathryn Ruemmler received roughly $17.5 million in total compensation after being appointed its top lawyer a year ago, the firm disclosed in a proxy. Goldman paid Ruemmler $7.9 million in cash last year, including $1.5 million in base salary and a $6.4 million bonus, the proxy showed. Goldman gave her a stock bonus ...

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• 21 March

  Unicredit exit from Russia Alfa Bank in limbo amid sanctions

  

    Bloomberg UniCredit SpA is facing a delay in the long-planned sale of a stake in the owner of a Russian bank, in a sign of the complications in store for Chief Executive Officer Andrea Orcel as he considers a wholesale retreat from the country. UniCredit in November exercised an option to sell its 10% in ABH Holdings, the owner ...

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• 21 March

  Bank of France sees uncertainty as growth slows

  

    Bloomberg France’s central bank said the war in Ukraine is already affecting the economy and creating high uncertainty that makes it tricky to forecast how much inflation will accelerate or the extent to which the recovery from the Covid pandemic will slow. Instead of publishing its regular economic projections, the Bank of France took the unprecedented step of presenting ...

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• 21 March

  Slim’s bank to extend market-beating rally

    Bloomberg Mexico’s best performing stock this year, Grupo Financiero Inbursa SAB, is set to go even higher as the bank prepares to spin off its private equity business and could even make a bid for Citigroup Inc’s local assets, according to a Barclays analyst. Gilberto Garcia raised his price target for Inbursa, which belongs to Mexican billionaire Carlos Slim, ...

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• 21 March

  Slow out of the driveway, fast on the road

  

  Bloomberg It took people 15 minutes to get out of the driveway with the 2022 McLaren 765LT Spider. And that was after the ear-splitting chaos of setting off the car alarm opening one of its winged doors because we had left the key inside the garage. The driveway meets the road with a subtle divot that belies its precarious nature. ...

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• 21 March

  Google lands first subsea cable in Africa to spur digital access

  

    Bloomberg Google landed a submarine cable in Togo, the first nation in West Africa to introduce commercial fifth-generation mobile services. The Equiano subsea internet cable, part of Google’s $1 billion program to build digital capacity on the continent, was connected to the nation of 8 million people. The conduit will land in Nigeria, Namibia and South Africa later this ...

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• 21 March

  Apple’s latest iPhone sidelines carriers from buying process

  

    Bloomberg The debut of Apple Inc’s latest iPhone brings a change to the way its US customers can purchase the device, a move toward cutting wireless carriers out of the process and giving the tech giant more control. Traditionally, when a user buys an iPhone at an Apple retail store or the company’s online store, the customer provides their ...

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• 21 March

  Europe car sales hit record low in February

    Bloomberg Car sales in the European Union skidded to the lowest on record for February, as manufacturers brace for more disruption to output from supply-chain issues exacerbated by war in Ukraine. New-vehicle registrations in the EU fall 6.7% to less than 720,000 for the month, the European Automobile Manufacturers’ Association said. When including the UK and free-trade association countries, ...

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