GGood morning.
Britain and the EU are said to be preparing sanctions against new Russian gas projects in retaliation for any attack on Ukraine.
The planned sanctions, which would be part of a broader package of economic measures, mark a step toward potential countermeasures to Moscow’s aggression in Eastern Europe.
Hitting gas projects is a bold move as Europe relies on Russia for 40 percent of its gas imports and is already in the throes of an energy crisis.
However, targeting new projects is seen as a way to attack the country’s main industry without causing further disruption in the short term, the FT reports.
5 things to start the day off right
1) Nicola Sturgeon relies on Bank of England amid record deficit New report highlights Scotland’s potential challenges as an independent state
2) M&S launches TikTok-inspired ‘live shopping’ to attract younger customers The 137-year-old company is said to be the first major UK retailer to introduce this feature
3) Apple avoids global microchip crisis with record sales of $124 billion The tech giant posts its biggest gains ever, but iPhone growth is slowing as the pandemic’s gadget mania slows
4) Wasps and bees are forcing Heathrow take-offs to be abandoned Airport, airlines and authorities have taken measures to increase security
5) Calling cars “self-driving” should be a criminal offense when human intervention is required, says law commission The proposed law could prove challenging for Elon Musk’s Tesla
what happened overnight
Asian markets were mixed on Friday at the end of a generally damaging week for global investors, as the Federal Reserve announced the days of ultra-cheap cash were ending sooner than expected.
Some bargain buying offered support after Thursday’s steep falls, with Tokyo and Sydney both up about 2 percent.
Singapore, Seoul, Manila and Jakarta were also up, but Hong Kong slipped more than 1p to 23,548/75 and Shanghai fell 0.8p to 3,366.72.
Comes today
- Company: Paragon Banking Group (Trade Update)
- Business: consumer confidence (I), personal consumption expenditure (US), Michigan Consumer Sentiment Index (US)