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Russian oligarchs, who are collectively estimated to control as much as one third of Russia’s wealth, most of which is held outside of Russia in various ways such as shadowy bank accounts and real estate, are feeling the wrath of sanctions by the European Union (EU) and the U.S. Following Russia’s invasion of Ukraine in late February, the West swiftly moved to punish the regime of Russian President Vladimir Putin by freezing Russian assets, cutting off some of the country’s banks from… Source link

We’re one step closer to seeing Zion Williamson back on a basketball court again. According to Shams Charania and Will Guillory of The Athletic, Williamson has been cleared to start basketball activities and will be returning to the New Orleans Pelicans. This is great news for Williamson, the Pelicans, and fans. Just a few weeks ago, it was reported that Zion might need a second surgery. Now, just like that, he’s back on track to possibly appear in a game before the end of the season. And with… Source link

(Bloomberg) — For years, the U.S. warned Germany of building up a dangerous energy dependence on Russia, the source of more than half of its fossil fuel imports. Now that the war in Ukraine has shocked Berlin into the same conclusion, the government is finding that changing course might be too late. Most Read from Bloomberg Europe’s largest economy is facing up to the prospect that the bulk of its natural gas and coal supplies could get choked off, ripping through its industrial base and… Source link

A self-described “doctor” has a lesson she’d like to teach investors about decentralized finance (DeFi), an increasingly popular lending sector that’s become a battleground against cryptocurrency-related fraud. Even the most experienced DeFi players can find themselves wrong-footed by hacks and fraud. Yet retail investors in the sector are hungry for basic fraud protection, giving rise to a new breed of “vigilantes” and startup businesses to address the demand. Over a year ago, one Silicon… Source link

Phoenix Mercury All-Star and two-time Olympic gold medalist Brittney Griner has reportedly been detained in Russia on drug charges. The New York Times reported that the Russian Federal Customs Service detained an American basketball player at Sheremetyevo Airport near Moscow after finding hashish oil vape cartridges in her luggage. The Customs Service didn’t identify who was arrested, saying only that she’d won two Olympic gold medals. A Russian news service identified the player as the… Source link

(Bloomberg) — Italy’s Finance Police detained superyachts of sanctioned Russian billionaires, as authorities around the world ratchet up the pressure on the country’s elite following the invasion of Ukraine. Most Read from Bloomberg Gennady Timchenko’s Lena was seized in the coastal city of Sanremo in compliance with European Union sanctions, according to a statement from Prime Minister Mario Draghi’s office on Saturday. A media adviser to Draghi said on Twitter on Friday that police… Source link

In early 2020, an accounting scandal at Luckin Coffee blindsided its American stockholders as the coffeehouse chain’s stock price fell to the floor. Luckin Coffee highlighted a problem: American investors knew little of Chinese company financials while the stocks trade freely on U.S. exchanges. The incident sparked questions regarding whether other crises involving U.S.-listed Chinese companies lurked around the corner. Congress acted to stop the next Luckin by passing the Holding Foreign… Source link

For more business and finance explainers, check out our Yahoo U page. Economic sanctions on Russia following the country’s invasion of Ukraine have sent the Russian ruble for a tailspin. Following several measures from Western countries to isolate Russia’s economy, the ruble lost over 30% of its value against the U.S. dollar. A devaluing currency makes sense, given sanctions on Russia’s largest banks and the severance of other firms from the international banking system known as… Source link

Huang Yu-ting made waves at the Beijing Olympics for wearing a China uniform. (Photo by Elsa/Getty Images) Taiwan will cut two years worth of funding for speed skater Huang Yu-ting after she was pictured wearing a China uniform prior to last month’s Beijing Olympics. Taiwan’s Sports Administration released a statement on Thursday, saying the decision was made based on “Huang Yu-ting’s repeated controversial words and deeds during the preparation and participation in the Beijing Winter… Source link

Utah State volleyball player Kristy Frank was one of many Ukrainians abroad to watch in horror as Russia commenced its unprovoked invasion of her homeland. The Kyiv native currently lives in Logan, Utah, but her family remained in the country. In a video released by the Aggies, Frank recalled seeing videos of explosions in her city on her friends’ social media feeds. She cried on a phone call with her father when he said there were explosions nearby. In another call, her mother told her a… Source link