There is much more the U.S. could do on the sanction front to penalize Russia for its war on Ukraine, points out Goldman Sachs Chief Economist Jan Hatzius. “The prospects for additional sanctions depend mainly on how the war in Ukraine unfolds, but at this point further escalation of sanctions seems likely,” Hatzius said in a new note to clients. The closely followed Hatzius laid out five additional actions the U.S. may take: Block more Russian individuals and related companies. Block additional… Source link

WASHINGTON (AP) — President Joe Biden announced Tuesday the U.S. will ban all Russian oil imports, toughening the toll on Russia’s economy in retaliation for its invasion of Ukraine, but he acknowledged it will bring costs to Americans, particularly at the gas pump. The action follows pleas by Ukrainian President Volodymyr Zelenskyy to U.S. and Western officials to cut off the imports, which had been a glaring omission in the massive sanctions put in place on Russia over the invasion…. Source link

More than half of Canadians believe high gas prices are here to stay, and could push higher, according to a public opinion poll by Yahoo/Maru. Most Canadians believe high gas prices are here to stay, and could keep pushing higher, a new Yahoo/Maru public opinion poll shows. However, only 16 per cent say they’re serious about buying a fully electric or hybrid vehicle for their next automotive purchase. The survey found more than a quarter (27 per cent) of respondents point to international… Source link

Shell (SHEL) says it will stop buying Russian crude and apologized for purchasing a cargo last week amid the ongoing Russian invasion of Ukraine. “We are acutely aware that our decision last week to purchase a cargo of Russian crude oil to be refined into products like petrol and diesel – despite being made with security of supplies at the forefront of our thinking – was not the right one and we are sorry,” Shell Chief Executive Officer, Ben van Beurden said in a company statement. The… Source link

COPENHAGEN (Reuters) – A senior member of Russia’s ruling party has proposed nationalising foreign-owned factories that shut down operations in the country over what the Kremlin calls a special military operation in Ukraine. Several foreign companies including Toyota, Nike and home furnishings retailer IKEA have announced temporary shutdowns of stores and factories in Russia in order to put pressure on the Kremlin to stop its invasion of neighbouring Ukraine. In a statement published on Monday… Source link

Activist investor Jonathan Duskin at Macellum Capital Management fought a failed management team at Bed Bath & Beyond and won big in 2019. Duskin — whose successful campaign led to a board overhaul and ultimately the addition of current Bed Bath & Beyond CEO Mark Tritton — tells Yahoo Finance Live what GameStop Chairman Ryan Cohen is doing with the home goods retailer makes sense. “Ryan has a great following and is very well respected,” Duskin says. “I think we’ve articulated there is a… Source link

Google agreed to buy cybersecurity company Mandiant. Photo: Jeff Chiu/Associated Press … Source link

Acquisition to bring Google speed and scale to Mandiant’s unparalleled intelligence and expertise – at a time when security has never been more important RESTON, Va., March 8, 2022 – Mandiant, Inc. (NASDAQ: MNDT) today announced that it has entered into a definitive agreement to be acquired by Google LLC for $23.00 per share in an all-cash transaction valued at approximately $5.4 billion, inclusive of Mandiant’s net cash. The offer price represents a 57% premium to the… Source link

MOUNTAIN VIEW, Calif. (March 8, 2022)—Google LLC today announced that it has signed a definitive agreement to acquire Mandiant, Inc., a leader in dynamic cyber defense and response, for $23.00 per share, in an all-cash transaction valued at approximately $5.4 billion, inclusive of Mandiant’s net cash. Upon the close of the acquisition, Mandiant will join Google Cloud. Today, organizations are facing cybersecurity challenges that have accelerated in frequency, severity and diversity,… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Tuesday, March 8, 2022 When an oil crunch turns foes into frenemies Since Vladimir Putin attacked Ukraine for the sin of refusing to exist as a Russian satrapy, fiery crude prices are stoking fears of a 1970’s style oil shock, and sending a chill down the market’s spine. The U.S. government is weighing slapping embargoes on Russia’s crude —… Source link