World braces for Russian debt default as payment deadline approaches – live updates
gHello. All eyes are likely on Russia today as the deadline for a $117 million coupon on the country’s sovereign bonds nears. An attempt to pay in rubles can be considered a default on the debt of Moscow.
Later in the day, the Federal Reserve is expected to take its first steps towards tackling soaring inflation in the United States, by raising interest rates.
5 things to start your day
1) How Komarek took control of the lottery in the race against Camelot – and what it means for consumers The outside bet unexpectedly triumphed with its lottery bid, which will fall on the shoulders of a little-known tycoon
2) BNP Paribas lawyer who kept job after calling Asian colleague ‘Hu She’ quits French bank Emails also showed that the lead attorney referred to another employee as “Biryani”.
3) Germany to relight mothballed coal power plants One of Europe’s largest energy companies is examining which plants can be brought back online to reduce dependence on Russian gas
4) Elon Musk attributes soaring costs to Tesla’s price hike The cheapest car sold in Britain, the Model 3, is now £1,000 more at almost £44,000
5) War forces farmers to rethink GM crops Genetic modification could make Britain’s food system less susceptible to geopolitical unrest
What happened overnight
Asian stocks rose on Wednesday as investors awaited a widely expected decision from the U.S. Federal Reserve on interest rate policy.
Japan’s benchmark Nikkei 225 jumped 1.7% in morning trade to 25,784.71. Australia’s S&P/ASX 200 added 0.9pc to 7,160.00.
The South Korean Kospi gained 0.8pc to 2,641.23. Hong Kong’s Hang Seng rose 2.1% to 18,807.58, while the Shanghai Composite lost 0.4% to 3,050.59.
- Business : Computacenter, 4imprint, Centamin, CLS Holdings, Ferrexpo, Fevertree, IP Group, Restaurant Group (full year); IG group (commercial update)
- Economy: Federal Reserve interest rate decision, retail sales (WE)