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Bloomberg The UK government is preparing to step in and temporarily run Gazprom PJSC’s British retail supply arm as it comes under increasing pressure from companies turning their backs on Russian business over the war in Ukraine. Gazprom Marketing & Trading Retail Ltd is a prime candidate to be taken into the UK’s special administration regime if it fails, to ...

  Bloomberg A Russian court on Tuesday sentenced jailed opposition leader Alexey Navalny to nine years in a high-security prison in a ruling that will keep President Vladimir Putin’s top critic sidelined amid a harsh crackdown on the opposition. Navalny, who is currently serving a two-and-a-half year sentence that the European Court of Human Rights called politically motivated, in a ...

Bloomberg The UK Chancellor of the Exchequer Rishi Sunak was handed a major boost before Wednesday’s Spring Statement, as data showed the budget deficit was running 26 billion pounds ($34 billion) below official forecasts in the first 11 months of the fiscal year. The undershoot, which may rise even further when full-year figures are published next month, gives Sunak some ...

  Bloomberg Spain will announce a series of tax breaks later this month to mitigate the economic consequences of the war in Ukraine, Prime Minister Pedro Sanchez said. “The main message is that the government is going to do everything in its power to cushion the consequences of the war,” Sanchez said in an interview with La Sexta television channel. ...

  Bloomberg BMW AG said operating returns for its automotive business will remain robust this year, even as the war in Ukraine and a global semiconductor shortage weigh on production. The company lowered its estimate for automaking returns to between 7% and 9% for 2022, noting that the target range would have been 8% to 10% were it not for ...

  Bloomberg Workers in Europe’s biggest economies are among the least likely to be seeking pay rises in the next year, despite feeling the some of the biggest pressures from rising prices. That’s the conclusion of a global survey carried out by YouGov Plc and shared exclusively with Bloomberg News. It may allay concerns at central banks about the potential ...

  Abu Dhabi / WAM Mubadala Petroleum, the Abu Dhabi headquartered international energy company, has successfully commenced first gas production from the Pegaga gas field in Block SK 320, offshore Malaysia. This milestone marks the safe and successful culmination of a challenging gas project, during a period in which Mubadala Petroleum navigated the challenges of the global pandemic. As a ...

  ABU DHABI / WAM Masdar, one of the world’s leading renewable energy companies, is continuing to strengthen its support for global climate action, with the capacity of its clean energy project portfolio rising 40 percent in 2021. The electricity generation capacity of all projects Masdar has invested in – either installed or under development – increased from 10.7 gigawatts ...

Bloomberg Xi Jinping bet that establishing a “no limits” friendship with Vladimir Putin could prevent the US from containing China. Now that agreement threatens to leave Beijing more isolated and alone. A phone call between Xi and US President Joe Biden appeared to achieve no major breakthroughs. The US continued to threaten unspecified consequences if China provides support to Russia, ...

Bloomberg Argentine President Alberto Fernandez called on his government to implement “all necessary measures” to combat 52% inflation that’s been aggravated by the surge of global commodity prices due to the Russia’s invasion of Ukraine. In a sombre, 18-minute speech, Fernandez said his ministers would start rolling out new measures without providing specifics. Earlier in the week, he declared a ...