Joseph Branch

Joseph Branch

China to change privacy rules on offshore company listings

A draft rule released by the China Securities Regulatory Commission is an attempt by Beijing to resolve a dispute with Washington that could lead to the delisting of 270 Chinese companies on U.S. exchanges in 2024. China's updated rules would remove requirements that on-site inspections of Chinese

Lithuania no longer imports natural gas from Russia. This was confirmed by the Ministry of Energy of the Baltic republic - RBC

It is the first EU country that has completely abandoned Russian gas.

Ford recalls 737,000 vehicles in the U.S. due to software issues and fire risk

The company said the recalled models have a defect that could cause oil leaks and a subsequent fire. Other vehicles have a software failure that prevents braking. Ford said the company is aware of eight fires that may have been caused by the malfunction. Dealers will check the oil separator

JP Morgan cuts Apple and Qualcomm from its "best companies" list

Analysts at JPMorgan said Friday that slowing demand for smartphones could negatively impact Apple and Qualcomm's stock gains. Excluding those companies from the list is also due to rising costs amid the conflict in Ukraine. Apple is already planning to cut production of iPhones and AirPods due to

British Foreign Secretary Truss: The UK and the US have agreed that the pressure on Russia must continue

He added that the countries will continue to seek to reduce their dependence on Russian energy resources.

European Commission: Companies with gas supply contracts in euros or dollars should not comply with Russian requirements

The EC said that 97% of the relevant gas supply contracts provide for payment in euros or dollars. "The contracts must be complied with," the EC representative said.

WTI oil accelerates its fall.

Oil accelerated its fall after Biden's statements about releasing black gold from strategic reserves. WTI loses nearly 7%

U.S. oil producers blame steel shortages on low production

According to KeyBanc Capital Markets, the price of oilfield tubulars, or OCTG, reached $2400 a ton this month, up 100% from a year ago. The industry is threatened by steel shortages due to the conflict in Ukraine. Russia and Ukraine provide about 15% of all U.S. imports of metal.

U.S. market faces biggest quarterly drop in 2 years

The stock market is reacting sharply to the Ukrainian crisis. U.S. and allied sanctions policies against Russia are hurting domestic markets as well. Industry is suffering from rising commodity prices and supply chain problems are returning. This is exacerbating the U.S. inflation problem. Price increases are holding at

Volkswagen will recall more than 100,000 cars because of a fire claim

The company said Thursday it is recalling thousands of hybrid cars, including Passat, Golf, Tiguan and Arteon models. Seat and Skoda brands will also be affected. The reason for the recall is the risk of engine fire. Some vehicles are found to have insufficient insulation of the high-voltage motor battery.