Monday, 15 October, 2018

Russian firms and rouble hit heavily by Trump sanctions

Aluminium giant Rusal share price halved after US sanctions Aluminium giant Rusal share price halved after US sanctions
Andy Castillo | 11 April, 2018, 17:04

The metal jumped in price on Monday after lawyers and traders said that many non-US customers would also be wary of buying from the company because of the wide reach of the sanctions.

Rusal's shares in Hong Kong have slumped by half since the sanctions were imposed on Friday and gave up another 1.9 percent on Wednesday.

Rio Tinto Plc, is reviewing its dealings with Rusal to ensure compliance with United States sanctions, a top executive had said on Tuesday, but added it was too soon to discuss the future of its Australian venture with Rusal.

The US authorities announced the imposition of sanctions against a number of Russian officials, businessmen and companies on April 6.

The RTS index, which trades in dollars, fell 9.75 percent, and the MOEX index, which trades in roubles, fell 6.9 percent.

"At the time of withdrawal the ratings were: corporate family rating of Ba3 and probability of default rating of Ba3-PD At the time of withdrawal these ratings had a positive outlook", it said in a statement.

Moody's said it was withdrawing all ratings for Rusal due to its own business reasons.

Respected PM to satisfy ego: Andhra Pradesh CM N Chandrababu Naidu
The TDP MPs on Sunday (April 8) morning attempted to protest outside Prime Minister Narendra Modi's residence at 7 Lok Kalyan Marg and gherao the PM residence.

Rusal produces nearly 6 per cent of the world's aluminium. On the New York Mercantile Exchange, palladium futures for June delivery climbed 4.2 percent to $932.50 an ounce, the biggest rally for a most-active contract in seven months.

The measures against Rusal and its boss, metals magnate Oleg Deripaska, mark the first time a major global company has been targeted by Washington in its moves to punish Russian Federation for alleged meddling in the 2016 USA election.

Rusal is the biggest producer of aluminum outside of China.

'The Russian government operates for the disproportionate benefit of oligarchs and government elites, ' said Treasury secretary Steven Mnuchin.

The Russian stock market also fell heavily. Glencore owns a almost 9% stake in the firm.

"It is very hard to justify continuing to chair the board of a company that's been sanctioned by the worldwide community", he said.

Recommended

  • Google Cloud fuelled by 100pc renewable energy

    Google Cloud fuelled by 100pc renewable energy

    These facilities include retail stores, offices, data centres and co-located premises in 43 countries such as the USA , UK, China and India.
    Muenster van attack driver acted alone, police say

    Muenster van attack driver acted alone, police say

    The attacker was found dead in the vehicle , while the motive was yet to be ascertained, the police said. Everything possible is being done to investigate the act and support the victims and their families".
    Facebook, led by Mark Zuckerberg, cashes in on data scandal

    Facebook, led by Mark Zuckerberg, cashes in on data scandal

    But Zuckerberg's deleted messages didn't leave behind any such message, probably because they had already been read , many years ago.
  • Several teens injured in Long Island bus crash

    Several teens injured in Long Island bus crash

    The Nassau County police and the Lakeview Volunteer Fire Department set up a mass-casualty treatment triage and saved lives. David Candelaria revealed (in the below CBS News clip ) that some passengers had to be extricated from the bus.
    Rivals' opposition to me turning violent: PM Modi

    Rivals' opposition to me turning violent: PM Modi

    The Prime Minister reiterated that the party aims to ensure that the person sitting on the bottom of the pyramid is connected to BJP.
    McGregor facing criminal charges

    McGregor facing criminal charges

    The UFC released new video of the melee at the Barclays Center that has superstar fighter Conor McGregor facing charges. Fellow MMA fighter Cian Cowley, 25, was hit with one count of assault and one count of criminal mischief .
  • Amid growing tension, Trump confident China will yield

    Amid growing tension, Trump confident China will yield

    The Trump administration also is pushing for a crackdown on what it says is China's theft of US intellectual property. He argued that the situation could be a "win-win" for China and the United States if Beijing opens up its economy.
    Duchess To Give Birth At St Mary's Hospital

    Duchess To Give Birth At St Mary's Hospital

    While Kensington Palace reps have yet to confirm Prince William's wife's due date, they have shared that she's due this month. The exclusive Lindo Wing doesn't come cheap and the Duke and Duchess will fork out more than £5,000 per night for their stay.
    Vettel wins Bahrain, Raikkonen's car breaks mechanic's leg

    Vettel wins Bahrain, Raikkonen's car breaks mechanic's leg

    The Briton was hampered by radio points all through the race and sounded annoyed throughout communications together with his crew. However, the signal appears to have come too soon, with one Ferrari mechanic still replacing a wheel on the vehicle .
  • BJP Releases First List Of 72 Candidates For Karnataka Assembly Polls

    BJP Releases First List Of 72 Candidates For Karnataka Assembly Polls

    Now the screening committee meetings are going on and any list regarding the same will be released only after Central Election Committee meeting.
    Man Beaten And Robbed, Two Women Charged

    Man Beaten And Robbed, Two Women Charged

    Horrified by the development, the woman then narrated the incident to her parents who gave her the courage to approach the police. The two women even celebrated his first birthday together. "I would just say to anybody, don't give up hope.
    Daniel Ricciardo fastest in Bahrain first practice

    Daniel Ricciardo fastest in Bahrain first practice

    It was another blow for Verstappen, who spun his auto early into the season-opening Australian GP two weeks ago. Hamilton was over a second off Ricciardo's lap and eight-tenths off the time set by Vettel in fourth.

Bayer shares rise on report of United States antitrust deal on Monsanto Bayer shares rise on report of United States  antitrust deal on Monsanto Supplemental Annuity Collective Tru Of Nj invested in 4,000 shares or 0.2% of the stock. (NYSE:UAL) for 298,310 shares. Monsanto shares rose more than 6% in recent trading, after the Journal reported on the Justice Department's decision.

VW expected to place Herbert Diess in the driving seat VW expected to place Herbert Diess in the driving seat The carmaker also managed to fend off Toyota Motor Corp.to retain its status as the world's largest automaker. Handelsblatt said the company's supervisory board could make its decision at a meeting on Friday.

Royal couple request charity donations not wedding presents Royal couple request charity donations not wedding presents A British Government source confirmed Ms May would not be attending and said there had been no expectation that she would. Also invited is 14-year-old Reuben Litherland who was born deaf and has started lunchtime lessons to teach sign language.

Tristan Thompson allegedly cheated on Khloe with another woman Tristan Thompson allegedly cheated on Khloe with another woman The woman who was responsible for filming the footage told MailOnline: "They were talking and being around each other all night". The shocking claims will of course come as a devastating blow to Khloe who is due to give birth to her first child any day now.

Roma's Italian job against Barca Roma's Italian job against Barca The scenes in the stadium and the Roma dressing room were also a joy to behold. And the one link, the one abiding presence, was that of Daniele De Rossi .

Transgender NZ weightlifter withdraws after injury Transgender NZ weightlifter withdraws after injury It was a sad end to the competition for her and a convenient one for all those people who have been watching with incredulity. Hubbard had been "really buoyed" by the crowd's reaction to her first lift, he said.

Cosby's retrial likely no repeat Cosby's retrial likely no repeat Judge Steven O'Neill announced that he would interview the juror who claims to have overheard the remark, behind closed doors. She was tackled to the ground and charged with disorderly conduct, if convicted she'll be fined and will pay court fees.

Arizona deploys 338 National Guardsmen to Trump's border mission Arizona deploys 338 National Guardsmen to Trump's border mission He said that based on his conversations with President Trump and other officials, there's no end date on the deployment. Trump authorized the National Guard with governors' approval to enhance us border patrol security on Wednesday.

Strike on Syria air base kills 14, including Iranian forces Strike on Syria air base kills 14, including Iranian forces And a prominent Republican senator warned Trump that a failure to act now could leave him in a weakened posture internationally. The AP and other global news organizations reported SANA said the country's air defenses had shot down eight missiles.

Ohtani shines, allowing one hit in Angels' victory Ohtani shines, allowing one hit in Angels' victory After four games with the A's, Los Angeles is one of just six teams to still maintain a flawless fielding percentage. Ohtani hit his third home run of the season on Friday and now boasts a 1.310 OPS through four games as a hitter.

Ronda Rousey wows in WWE WrestleMania debut Ronda Rousey wows in WWE WrestleMania debut Undertaker's hat and coat suddenly appeared in the ring, just as they had been left at the end of WrestleMania 33 a year ago. White was actually invited to the event by Ronda Rousey .

US Said to Confirm North Korean Offer to Talk Denuclearization US Said to Confirm North Korean Offer to Talk Denuclearization North Korea was "suffocating" under global sanctions, Nikki Haley, the U.S. ambassador to the United Nations, said on Thursday, adding, "They need an out".

Simmons triple-double in LeBron showdown Simmons triple-double in LeBron showdown Washington's John Wall failed to capitalize on several possessions in the final minute en route to a 119-115 win for Cleveland. The Wizards increased their lead to 104-87 with 7:35 remaining in the contest after 3-pointers by Tomas Satoransky and Beal.

What do we know about the YouTube headquarters shooter Nasim Aghdam? What do we know about the YouTube headquarters shooter Nasim Aghdam? During her 20-minute interview with officers, Nasim Aghdam said she was having family problems and had left her home, police said. California law limits gun magazines to 10 rounds each, but Caldwell said he did not know if Aghdam's were legal.

Shane Long gives Southampton the lead against Arsenal Shane Long gives Southampton the lead against Arsenal At 2-2, he missed an open goal but he didn't let that knock his confidence as he scored the victor soon afterwards. Yet the opening goal only served to kick-start Wenger's side out of their slumbering state.