Good morning.
Russia’s bid to prevent default has intensified as it struggles to find a way around sanctions.
The country is approaching bankruptcy after Wall Street banks cut interest payments on two-dollar bonds, forcing it to pay in rubles instead.
Yesterday, the Credit Derivatives Committee said the ruble payment was a potential default, raising fears that Russia may have given up on its debt.
It is said that Moscow is now exploring ways to redirect bond payments through national institutions, although it is not yet clear whether this will be successful.
5 things to start your day with
1) Rosneft tries to unload crude oil before dangerous EU embargo Russia’s largest oil supplier, Rosneft, has invited offers for three cargoes of 700,000 barrels
2) City companies use the benefits of red herring to prevent major resignations. Record vacancies force employers to be resourceful about benefits despite doubts about whether work-life balance is really changing
3) Reduce the speed limit by 10 miles per hour to beat Putin, says Sir Richard Branson The billionaire calls for a limit of 60 miles per hour on highways to “save lives” by reducing energy consumption
4) Apple will automatically block children’s access to nude images sent to their iPhones. Apple’s new feature will send a prompt to children before allowing them to view obscene images
5) Families will be forced to spend £ 34 billion in savings by blocking credit card accounts. Households will be significantly worse off as high prices push consumers into debt
What happened during the night
Shares of mainland China and Hong Kong fell on Thursday, hurt by worries about the Chinese economy, but a overnight slump in longer-term US bond yields has provided support for other benchmarks.
A 0.78% decline for Hong Kong and a 0.36% decline for mainland blue-chip blue chips pulled the MSCI’s widest Asia-Pacific equity index outside Japan by 0.22% lower.
But shares in Australia and Korea rose, while Japan’s Nikkei rose 0.81 percent. Nasdaq futures rose 0.6 percent and S & P500 futures rose 0.4 percent.
Expect today
- Corporate: Antofagasta, AJ Bell, Anglo American, Foxtons, Man Group, Meggitt, Polymetal International, Relx, Rentokil Initial, Segro (trade statements)
- Economy: inflation (EU), consumer confidence (EU), unemployment claims (US), IMF meeting (US)
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