Good morning.
Senior EU officials have proposed that the bloc seize $ 300 billion from Russia’s frozen foreign exchange reserves to help finance Ukraine’s reconstruction.
The West has taken control of about half of Putin’s $ 600 billion in gold and foreign exchange reserves, and officials are now considering how they could be used to help rebuild Ukraine.
Confiscating foreign exchange reserves would be a dramatic move, but EU foreign policy chief Josep Borrell cited a US decision to set aside $ 3.5 billion of Afghanistan’s central bank’s assets to pay for humanitarian aid and compensation for victims of the 9/11 attacks. .
He told the Financial Times: “I would be very much in favor because it is full of logic. We have money in our pockets and someone has to explain to me why it is good for Afghan money and not for Russian money.
5 things to start your day with
1) Bond quakes hit Italy as eurozone risk returns with revenge Italy’s political risk is back on the table, just as the ECB’s debt shield disappears
2) Bank of England staff in the office only one day a week Staff spend most of the week working from home, although ministers urge workers to return to the office.
3) Revising “outdated” laws and allowing insects to feed on pigs and chickens, says the head of Tesco Plus: From insect feed to vertical farms – we need bureaucracy to deliver food to the future
4) Morrisons terminates Isa’s brothers’ offer of McColl’s. The supermarket made a last attempt to snatch the chain of stores from the grasp of Asda owners
5) “Save less and borrow more” to avoid a recession, economists say. Rapid inflation and growing uncertainty mean experts have lowered their estimates of household consumption
What happened during the night
Shares in Tokyo opened lower on Monday, following a decline in the United States due to investor concerns about higher interest rates, with the focus shifting to the profits of Japanese companies.
The base Nikkei 225 fell 1.12 percent, or 302.68 points, to 26,700.88 at the start of trading, while the broader Topix index fell 0.79 percent, or 15.12 points, to 1 900,79.
While mainland China’s shares fell in the open due to fears of global inflation and the consequences of policies to block Covid in Beijing.
The Shanghai Composite Index fell 0.16 percent, or 4.89 points, to 2,996.67 at the start of trading, while the Shenzhen Composite Index on China’s Second Stock Exchange fell 0.04 percent, or 0.68 points, to 1 858,71.
Expect today
Corporate: HG Capital Trust, Victrex (interim results)
Add Comment