Russian Prosecutors Warn Western Companies of Arrests, Asset Seizures
Russian prosecutors have issued warnings to Western companies in Russia, threatening to arrest corporate leaders there who criticize the government or to seize assets of companies that withdraw from the country, according to people familiar with the matter.
Prosecutors delivered the warnings in the past week to companies including Coca-Cola Co., McDonald's Corp., Procter & Gamble Co., International Business Machines Corp. and KFC owner Yum Brands Inc., the people said. The calls, letters and visits included threats to sue the companies and seize assets including trademarks, the people said.
JPMorgan Leads Talks to Contain Nickel Crisis Damage
Some of the world's biggest banks worked over the weekend to resolve a crisis in the nickel market that leaves them on the hook for billions of dollars owed by a Chinese metals giant.
JPMorgan Chase & Co., Standard Chartered PLC and BNP Paribas SA were among the banks and brokers seeking to reach an agreement with Tsingshan Holding Group, people familiar with the discussions said. Trades placed by the Chinese steel and nickel producer on the London Metal Exchange contributed to an uncontrollable rise in prices that led the exchange to halt trading and cancel eight hours' worth of transactions last Tuesday.
Hedge Funds' Commodity Bets Soar After Russia's Invasion of Ukraine
Hedge funds that placed bullish bets on commodities are notching sizable returns from the biggest rally in decades following Russia's invasion of Ukraine.
Soroban Capital Partners LP, a $10 billion stock-picking hedge fund in New York, is one of the biggest winners, making at least several hundred million dollars on the trade since February, a person familiar with the matter said. Other winners include New York macro fund Castle Hook Partners and value investor Pilgrim Global. The bet was that a yearslong drop in spending on new commodity supply and efforts to limit carbon emissions would push up materials prices and shares of producers, according to people familiar with the firms.
Economy Week Ahead: Retail, Central Banks, Home Sales
The Federal Reserve's monetary policy meeting takes center stage this week, with the central bank expected to raise its benchmark interest rate for the first time since 2018.
Russia-Ukraine War Threatens Wheat Supply, Jolts Prices
Russia's invasion of Ukraine threatens a big portion of the world's wheat supply and has sent prices on a dizzying ride to new highs as well as the sharpest weekly drop in years.
Wheat stockpiles were already running low and prices were the highest in years thanks to two years of poor growing weather when Russia's attack jammed up Black Sea trading and endangered nearly a third of the world's exports. The invasion prompted fears of food shortages in countries fed with imported grain and pushed prices to new highs.
Chip Makers Stockpiled Key Materials Ahead of Russian Invasion of Ukraine
Almost two years of chip shortages have had an unexpected upside for the semiconductor industry: It is better prepared to manage the turmoil caused by Russia's invasion of Ukraine.
Production of vital raw materials for chip making is concentrated in Russia and Ukraine. The countries are a major source of both neon gas, needed to feed lasers that print minute circuitry onto silicon, and the metal palladium used in later manufacturing stages.
Biden's Handling of Ukraine Conflict Imperils Energy, Foreign-Policy Pledges
WASHINGTON-Joe Biden campaigned on isolating the world's autocrats, getting the U.S. out of foreign conflicts, weaning it off fossil fuels and building a more resilient economy.
The Ukraine crisis is now forcing President Biden to recalibrate how he tries to deliver on those promises.
China Pursues Afghanistan's Mineral Wealth After U.S. Exit
MES AYNAK, Afghanistan-Following the American exit from Afghanistan, China's move to claim the country's vast mineral wealth is centered on a mountain south of Kabul.
The mountain and the barren surrounding valley, in Logar province, a two-hour drive from the capital, contain one of the world's biggest untapped reserves of copper.
Russia Asked China for Military Assistance, U.S. Officials Say
WASHINGTON-Russia has asked China for military equipment and other assistance for its war effort, according to U.S. officials, who didn't specify what Russia had requested.
News of Russian President Vladimir Putin's request for help from Beijing, first reported by the Washington Post, comes as Russia's war effort in Ukraine has been bogged down and as U.S. national security adviser Jake Sullivan heads to Rome on Monday to meet with a top Chinese official on the conflict inside Ukraine.
Iran Claims Missile Attack on Iraq That Sent U.S. Troops Rushing for Shelter
Iran's top paramilitary force claimed responsibility for a missile attack early Sunday that slammed into northern Iraq, sending U.S. troops rushing for shelter, shattering windows and creating new complications for diplomatic efforts to ease tensions with Tehran.
The Islamic Revolutionary Guard Corps issued a statement through its official Sepha News site saying that it carried out a missile attack in response to recent Israeli actions in the region, which included an airstrike last week in Syria that killed two of the Iranian paramilitary group's commanders. Kurdish officials said that at least 12 ballistic missiles hit the area, creating powerful blasts that damaged a local television station and a palatial compound identified as the home of a major Kurdish businessman.
Write to sarka.halas@wsj.com TODAY IN CANADA
Earnings:
Karora Resources 4Q
Westport Fuel 4Q
Economic Indicators (ET):
0830 Jan New motor vehicle sales
Expected Major Events for Monday
00:01/UK: Feb UK Regional PMI
07:00/GER: Feb WPI
07:45/FRA: Jan Foreign trade
07:45/FRA: Jan Balance of payments
09:30/UK: Annual CPI Basket of Goods and Services annual review
09:30/UK: 4Q Business Finance Review
12:30/CAN: Jan New motor vehicle sales
14:00/US: Jan State Employment and Unemployment
All times in GMT. Powered by Kantar Media and Dow Jones.
Expected Earnings for Monday
ARC Group Worldwide Inc (ARCW) is expected to report for 2Q.
AVEO Pharmaceuticals (AVEO) is expected to report for 4Q.
Adverum Biotechnologies Inc (ADVM) is expected to report $-0.42 for 4Q.
Asure Software (ASUR) is expected to report $-0.26 for 4Q.
Aura Minerals is expected to report for 4Q.
BRT Apartments Corp (BRT) is expected to report $-0.08 for 4Q.
Biodesix Inc (BDSX) is expected to report for 4Q.
Cano Health Inc (CANO) is expected to report for 4Q.
Ceco Environmental (CECE) is expected to report $0.04 for 4Q.
Charles Schwab (SCHW) is expected to report.
CorEnergy Infrastructure Trust Inc (CORR) is expected to report for 4Q.
Crawford & Co - A Share (CRDA,CRDB) is expected to report $0.15 for 4Q.
Crawford & Co - B Share (CRDA,CRDB) is expected to report $0.15 for 4Q.
Digital Media Solutions Inc (DMS) is expected to report for 4Q.
F-star Therapeutics Inc (FSTX) is expected to report for 4Q.
F45 Training Holdings Inc (FXLV) is expected to report for 4Q.
HG Holdings Inc (STLY) is expected to report for 4Q.
Hardwoods Distribution is expected to report for 4Q.
Helius Medical Technologies Inc (HSDT,HSM-T) is expected to report for 4Q.
Idera Pharmaceuticals Inc (IDRA) is expected to report $-0.46 for 4Q.
Luna Innovations (LUNA) is expected to report $0.01 for 4Q.
Northwest Healthcare Properties Real Estate Investment Trust (NWH.UN.T, NWHUF) is expected to report for 4Q.
Nuvo Pharmaceuticals Inc (NRIFF) is expected to report for 4Q.
ONE Group Hospitality Inc (STKS) is expected to report $0.20 for 4Q.
Ocean Power Technologies Inc (OPTT) is expected to report for 3Q.
Optical Cable (OCC) is expected to report for 1Q.
Ovid Therapeutics Inc (OVID) is expected to report $-0.16 for 4Q.
Paratek Pharmaceuticals (PRTK) is expected to report $-0.41 for 4Q.
Pennsylvania Real Estate Investment Trust (PEI) is expected to report $-0.09 for 4Q.
PhaseBio Pharmaceuticals Inc (PHAS) is expected to report $-0.51 for 4Q.
Resonant Inc (RESN) is expected to report $-0.12 for 4Q.
Sisecam Resources LP (SIRE) is expected to report for 4Q.
Starcore International Mines is expected to report for 3Q.
Stratus Properties (STRS) is expected to report for 4Q.
Telesat Corp (TSAT) is expected to report for 4Q.
Vail Resorts (MTN) is expected to report $5.79 for 2Q.
Vidler Water Resources Inc (VWTR) is expected to report for 4Q.
Westport Fuel Systems (WPRT,WPRT.T) is expected to report $-0.02 for 4Q.
Whole Earth Brands Inc (FREE) is expected to report for 4Q.
Willis Lease Finance (WLFC) is expected to report for 4Q.
Powered by Kantar Media and Dow Jones.
ANALYST RATINGS ACTIONS
Booz Allen Hamilton Raised to Neutral From Underperform by B of A Securities
Cactus Cut to Neutral From Buy by B of A Securities
CareTrust REIT Cut to Market Perform From Outperform by BMO Capital
ChampionX Cut to Neutral From Buy by B of A Securities
Chart Industries Raised to Buy From Neutral by B of A Securities
Chevron Cut to Underweight From Neutral by JP Morgan
DocuSign Cut to Neutral From Outperform by Baird
DocuSign Cut to Perform From Outperform by Oppenheimer
Exelon Raised to Buy From Neutral by Mizuho
Gemini Therapeutics Cut to Neutral From Buy by HC Wainwright & Co.
Keysight Technologies Raised to Buy From Hold by Deutsche Bank
Liberty Oilfield Services Raised to Buy From Neutral by B of A Securities
MarketWise Cut to Neutral From Outperform by Wedbush
Medical Properties Trust Cut to Neutral From Buy by B of A Securities
Mister Car Wash Raised to Buy From Hold by Stifel
Oracle Cut to Underweight From Neutral by Piper Sandler
(MORE TO FOLLOW) Dow Jones Newswires
03-14-22 0615ET
