LONDON (Reuters) -Russia is very likely to default on foreign debt and its economy will suffer a double digit contraction this year after the West launched sanctions unprecedented in scale and coordination, a global banking industry lobby group said on Monday.
LONDON (Reuters) -Europe's financial market on Monday began severing Russia's ties to its critical plumbing for trading, clearing and settling securities as sanctions on Moscow started to bite.
Credit Suisse's Private Banking Switzerland will be part of its Swiss business from April 1 rather than of the newly created wealth management unit, the bank said in an internal memo on Monday, making first changes to a new structure presented in November.
Trading volumes between the Russian rouble and the Tether cryptocurrency spiked sharply on Monday as the local currency tumbled to a record low on Western sanctions, data shared with Reuters showed.
The European Commission will propose that member countries tax the profits energy companies made from recent gas price spikes and invest the revenue in renewable energy and energy-saving renovations, sources familiar with the matter said on Monday.
India's top lender will not process any transactions involving Russian entities subject to international sanctions imposed on Russia after its invasion of Ukraine, according to a letter seen by Reuters and people familiar with the matter.
Estee Lauder Cos Inc said on Monday it has ousted senior executive John Demsey, less than a week after suspending him over an Instagram post that reportedly contained a racial slur.
China receives US equipment to make advanced chips despite new rules - report
China receives US equipment to make advanced chips despite new rules-report
U.S. Treasury yields have peaked, say strategists for fourth straight month: Reuters poll
Google's expert in US antitrust trial defends billions paid to device makers
Post-strike Hollywood rushes to get film, TV sets humming
