February, 2022

• 25 February

  Situation in Ukraine, Taiwan different: Tsai

  

    Bloomberg Taiwan’s president played down concerns that Russia’s invasion of Ukraine could trigger a similar crisis in Asia, warning against any efforts to use the crisis in Europe to sow panic in Taiwan. President Tsai Ing-wen condemned Russian President Vladimir Putin for damaging global stability and violating Ukraine’s sovereignty, a nation that shares similar security worries with Taiwan. “I ...

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• 25 February

  Invasion puts Ukraine’s 15 nuclear reactors at risk, monitors warn

    Bloomberg Russia’s invasion of Ukraine is unfolding in a nation with 15 atomic reactors operating near full capacity, exposing Europe’s second-biggest nuclear fleet to potential safety risks. Monitors at the International Atomic Energy Agency said in an email that they’re gravely concerned by the situation and remain in contact with Ukrainian nuclear-safety regulators. Reactors require steady supplies of electricity ...

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• 25 February

  China’s dilemma is how to aid Russia when West matters more

  

    Bloomberg Russia’s invasion of Ukraine poses a difficult question for China: How can it support a key strategic partner when relations with the US and Europe are so much more important for its economy? An important energy supplier to China, Russia has strengthened trade ties with Beijing over the past decade. However, Russia’s economic weight pales in comparison to ...

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• 25 February

  UK takes aim at rich Russian owners of London property

  

  Bloomberg From Chelsea penthouses to Highgate mansions, Russia’s long-standing infatuation with UK real estate is evident from a cursory glance at some of the country’s priciest property transactions. The past decade has seen that trend explode. The number of UK properties whose owners’ principal correspondence address is in Russia reached 1,127 in August 2021, according to data released by the ...

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• 25 February

  Norway wealth fund CEO rejects calls to sell Russian assets now

  

    Bloomberg Norway’s $1.3 trillion sovereign wealth fund’s chief executive, Nicolai Tangen, is resisting pressure to sell Russian stocks now, saying doing so would be akin to a “gift” to the country’s oligarchs. The Oslo-based fund is the world’s biggest owner of publicly traded companies with a portfolio of about 9,000 stocks, and has about 0.2% of its assets invested ...

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• 25 February

  Pozsar says $300 billion Russia cash pile can roil money markets

  

    Bloomberg Russia still has about $300 billion of foreign currency held offshore — enough to disrupt money markets if it’s frozen by sanctions or moved suddenly to avoid them. That’s according to Credit Suisse Group AG strategist Zoltan Pozsar, who parsed data from the Bank of Russia and financial markets to calculate that a much larger share is held ...

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• 25 February

  Italy could revive coal plants to break Russia energy dependence

  

    Bloomberg Italy’s new plan to break its dependence on Russian gas may rely partly on an old source of energy: coal. Prime Minister Mario Draghi said Friday that the country could reopen some shuttered coal plants to help bridge its looming energy supply gap and cut its dependence on Russia, which currently accounts for 45% of Italian gas supplies. ...

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• 25 February

  Poles rush for cash as war spreads in Ukraine

    Bloomberg Polish residents queued to withdraw cash from banks amid concerns over the fallout from Russia’s invasion of neighboring Ukraine, triggering a statement from the central bank that the country has sufficient reserves despite some ATMs running out of zloty. “All bank orders are carried out without value limits, in the full nominal value, throughout the country,” the National ...

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• 25 February

  US consumer spending tops forecasts even as inflation jumps

  

  Bloomberg US inflation-adjusted consumer spending advanced by more than expected in January, highlighting the resilience of American demand despite a surge in Covid-19 cases and prices rising by triple the Federal Reserve’s target. Purchases of goods and services, adjusted for changes in prices, increased 1.5% from December, the most in 10 months, according to Commerce Department figures Friday. The personal ...

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• 25 February

  Ukraine row: US stock futures pare losses, oil prices steady

  

    Bloomberg US equity futures dropped as the Ukraine conflict and Western sanctions on Russia muddied the outlook for markets and the global economic recovery. Crude prices steadied after briefly halting a rally. Contacts on the S&P 500 were down about 0.3% after paring earlier declines of more than 1%. Oil fluctuated, with benchmark West Texas Intermediate flipping to a ...

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