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Back up the dump truck on Caterpillar’s stock (CAT), says Jefferies analyst Stephen Volkmann. “Recent turmoil in Eastern Europe fundamentally reshapes global commodity markets, driving structurally higher pricing and after years of underinvestment capacity additions and supply diversification will be necessary in both mining and oil and gas sectors, though new projects will take time. Caterpillar has historically been a strong hedge to commodity and general inflation,” Volkmann said in a new… Source link

Jackson State football coach and Pro Football Hall of Famer Deion Sanders recently had surgery on his injured foot which resulted in the amputation of two toes on his left foot. The procedure is discussed in an episode of the SMAC Entertainment and Barstool Sports series, “Coach Prime”, which detailed his three-week stay in a Mississippi hospital. Sanders, 54, had his big toe and the second toe on his foot amputated and he lost 35 pounds during his stay. Sanders was diagnosed with three femoral… Source link

As the West rolls out more sanctions against Russia for its war in Ukraine, another consumer favorite joins the list: Big Macs. McDonald’s Corporation (MCD) said Tuesday the U.S.-based fast-food giant will temporarily close all restaurants in the country and pause operations in its Russian market, heeding to growing criticism over its silence on the conflict even as other multinational companies have severed ties with the nation. “We serve millions of Russian customers each day who count on… Source link

As commodities prices spike and stocks swoon as a result of Russia waging war against Ukraine, the monetary system could be changed in profound ways, some analysts say. At some point in the future, digital tokens may revert to the inflation hedge and safe-haven from fiat turmoil, as envisioned when they were first created. Traditional safe havens like gold, U.S. Treasuries and the U.S. dollar have surged in the current environment of risk-aversion. In a recent analysis, Zoltan Pozsar, global… Source link

Aaron Rodgers will be back in the green and gold in 2022 … and beyond. Rodgers reportedly agreed to a four-year, $200 million extension with the team Tuesday, according to NFL Network’s Ian Rapoport. The deal makes Rodgers the highest paid NFL player of all time. Rodgers will receive $153 million guaranteed as part of the new deal. Rodgers will reportedly receive $50 million per season, per Jay Glazer. Rodgers later confirmed on social media that he’ll be back with the Packers next season,… Source link

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