Money
French retailer announces suspension of business in Russia
A major French retailer has now suspended its activities in Russia following harsh criticism of its decision to stay
Activewear company, Decathlon, has been slammed for staying in Russia during the war with Ukraine.
Posts on social media have called for a boycott of the French company, which has 60 stores in Russia.
“In strict compliance with international sanctions, DECATHLON notes that the supply conditions are no longer met to continue its activity in Russia,” Decathlon says in a statement.
Decathlon says supply chain disruption meant it could no longer operate in the country but it would continue to support its 2500 Russian staff.
The company is also setting up a solidarity fund with €1 million’ to ‘support the affected populations’.
McDonald’s, Coca-Cola, Starbucks, and Ikea are among the many companies which have halted business in Russia. The corporate departures affect every department – retail, finance, entertainment, fast food, and autos.
The western sanction imposed against Russia also makes it harder for companies to continue business in Russia without facing an increased risk of a tarnished reputation.
Ukraine’s foreign minister had also criticised the firm for operating In Russia adding to the mounting pressure to pull out of the country.
Decathlon is owned by French retail giant Association Familiale Mulliez, which has been criticised for continuing its other businesses, Leroy Merlin and Auchan, in Russia.
The French Giant has also come under fire for reportedly planning an expansion of business in the country facing an exodus.
Rijul Baath contributed to this report
Money
Markets tumble as Trump tariffs, Greenland rhetoric and Europe backlash collide
U.S. stocks plummet over 800 points amid renewed tariff threats and political tensions from Trump, sparking global trade concerns.
U.S. stocks plummet over 800 points amid renewed tariff threats and political tensions from Trump, sparking global trade concerns.
U.S. equities took a sharp hit as markets reacted to renewed tariff threats and heightened political rhetoric from President Donald Trump. The Dow plunged more than 800 points, with the S&P 500 and Nasdaq also sliding as investor nerves rattled risk assets.
The sell-off highlights growing concern around global trade tensions and geopolitical uncertainty, with markets struggling to price in what comes next for U.S. economic leadership and policy direction.
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Money
Gold hits record highs as investors flee risk
Gold surges amid global uncertainty, with February futures rising 1.71% to $4,674.20 per ounce, signaling safe-haven demand.
Gold surges amid global uncertainty, with February futures rising 1.71% to $4,674.20 per ounce, signaling safe-haven demand.
Gold is shining brighter than ever as investors flock to safe-haven assets amid global uncertainty. U.S. gold futures for February delivery jumped 1.71% to $4,674.20 per ounce, while spot gold rose 1.6% to $4,668.14.
The surge comes as geopolitical tensions continue to worry traders, prompting a rush into metals perceived as stable and secure. Analysts say gold is proving its status as the ultimate hedge during turbulent times.
Investors are closely watching markets as gold sets new benchmarks, signalling growing caution across the financial landscape.
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Money
Markets edge higher as 10-year yields hit new highs
Major stock indices rise slightly; 10-year Treasury yield hits 4.23% amid Fed Chair speculation, affecting small and mega-cap stocks.
Major stock indices rise slightly; 10-year Treasury yield hits 4.23% amid Fed Chair speculation, affecting small and mega-cap stocks.
All major stock indices are starting the week slightly higher, giving investors cautious optimism. Analysts are keeping an eye on movements in small caps and mega-cap tech stocks amid these early gains.
The yield on the 10-year Treasury note has climbed to 4.23%, the highest since last September. This follows Kevin Warsh emerging as the frontrunner for the next Federal Reserve Chair, sparking speculation on future monetary policy.
Rising yields could trigger a pullback in small-cap stocks, while investors may pivot toward mega-cap tech, expected to deliver strong earnings growth. Overall, the market is likely to see a neutral to slightly bearish trend next week due to overbought conditions.
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