Domestic smartphone brand Inoi has decided to leave Russia
Now it will position itself as an Estonian company, reports Forbes. The brand's share of sales in Russia now stands at 5.9% for handheld phones and less than 1% for smartphones.
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Microsoft also falls in the postmarket, but the report is better than Google's
Revenue and EPS exceeded analysts' expectations: $50.1 billion and $2.35, respectively. However, net income fell 14%. Cloud services showed good growth. The IT giants' reports may shake up the U.S. market in tomorrow's trading.
Bank of Russia won't raise interest rate, analysts say
16 out of 20 analysts surveyed by Bloomberg, the Central Bank of Russia will leave the rate at 7.5%. Since the last meeting of the Bank of Russia: a partial mobilization was introduced, 1 trillion rubles were allocated to finance the budget deficit and a "medium response level" was
EU rethinks relations with China
"The EU sees its first priority as reducing dependence on China for technology and imports of resources," von der Leyen "We need a balanced relationship with China," President Macron.
Europe has a new problem: no place to store LNG - Business Insider
Europe's LNG imports will increase 25% in 2022 amid the collapse of the Nord Streams and sanctions on Russia. But in Europe, only Spain has an extensive LNG storage network. Tankers with gas have to wait weeks for their turn to unload.
Oil demand will grow in 2023 - IEA
In 3Q2022 the supply of oil in the market exceeded demand. According to IEA analysts' forecasts, the situation will change in 4Q2022. During 2023 demand will grow by ~1.5 mln bpd, while supply by ~3.3 mln bpd.
China will stop supplying LNG to Europe to ensure its country's winter heating season - Bloomberg
The news for the EU is not good. The fact is that China redirected contracted tankers with LNG to Europe because of the high demand and, as a consequence, the growth of the cost. Now this gas route is closed.
Ilon Musk's SpaceX can no longer fund Starlink work in Ukraine, - CNN
Starlink operations will cost more than $120 million by the end of the year and about $400 million over the next 12 months, SpaceX said. Musk's company is offering to let the Pentagon pick up the cost of operating Starlink.
Danone exits dairy products business in Russia - company
Control of its dairy and vegetable products division will be transferred to a new owner. The losses will amount to up to €1 billion.
Fear receded: the S&P 500 rebounded after falling nearly 2% at the start of trading
The S&P 500 Index is now up 1.7%. Investors have decided to close short positions. The fundamental problems haven't gone anywhere, and the interest of shorts in this market may grow again.