In commodities markets oil prices were up today morning as concerns grew about tighter global supply with deepening crisis in Ukraine that raised the prospect of heavier sanctions by the West on top exporter Russia.

Oil prices surges on supply fears amid deepening Ukraine crisis

Elon Musk was sued on Tuesday by former Twitter shareholders who claim they missed out on the recent run-up in its stock price because he waited too long to disclose a 9.2% stake in the social media company.

Elon Musk sued by Twitter shareholders over delay in disclosing stake

Amazon founder Jeff Bezos took responded to a tweet from Elon Musk, who polled his Twitter followers about converting Twitter’s headquarters into a homeless shelter.

Jeff Bezos support Elon Musk’s idea of converting Twitter HQ to homeless shelter

Sharpening Moscow's stone in its financial wrestle with the West now Russia will take legal action if West tries to force it to default on its sovereign debt. Russia's finance minister said however he did not elaborate on Russia's legal options that are going to be available.

Russia threatens legal action if forced into sovereign debt default

Swiss watchmakers are gathering in Geneva this week it's for their industry's biggest event in three years tackling the impact of sanctions on rich Russians.

Swiss watchmakers grapple with fallout of Russian crisis

Profit growth at China's industrial firms accelerated in January-February in line with other signs of momentum in the economy, although the outlook clouded by COVID-19 outbreaks and the war in Ukraine is stoking calls for supportive measures.

China industrial profits up but mired in single-digits

Longtime Starbucks chief Howard Schultz will return to the helm of the global coffee shop chain, the company announced Wednesday, serving as interim CEO while the company searches for a new leader amid a growing unionization drive.

Kevin Johnson, who has led the coffee giant since 2017, plans to retire next month, the company said, adding it expects to name a new CEO by the fall.&nbsp;

Schultz, 68, who first joined the company in 1982, grew Starbucks from a small Seattle coffee chain into a global juggernaut in two earlier stints as chief executive.&nbsp;

He also flirted with running for the US presidency in 2020, but ultimately opted against seeking office. His real-time wealth was valued at $4 billion on Wednesday, according to a Forbes list of the richest people in the world.

"When you love something, you have a deep sense of responsibility to help when called," Schultz said. "Although I did not plan to return to Starbucks, I know the company must transform once again to meet a new and exciting future where all of our stakeholders mutually flourish."&nbsp;

Shares of the coffee chain rocketed higher Wednesday, even as union leaders expressed misgivings about Schultz.

'Reputational risk'

With more than 34,000 stores worldwide, Starbucks reported a record $29.1 billion in annual revenues last year but has struggled of late to manage rising costs amid a tight labor market and supply chain problems.

Besides inflation, which is a headwind challenging companies throughout the economy, Starbucks is confronting a growing wave of unionization campaigns that has spread to more than 100 US stores after workers at two upstate New York cafes voted to form a union in December.

Johnson, 61, told the board a year ago that he was considering retiring in the wake of the upheaval of the pandemic, calling the decision "a natural bookend to my 13 years with the company," according to the company press release.

Starbucks said it had enlisted recruitment firm Russell Reynolds Associates in "continuous CEO succession planning" since 2021. Johnson plans to work as a consultant to the company through September.

The union movement poses challenges for the chain, which has been viewed as a worker-friendly company by many political progressives in the United States given its stance on gay marriage, race relations, the environment and other issues.

But Starbucks' tactics to discourage workers from unionization poses "reputational risk," shareholder activists argued in a letter sent to Johnson and Starbucks Chair Mellody Hobson ahead of the company's annual meeting later Wednesday.

Highlighting "alleged retaliatory termination and continued captive audience meetings," the shareholder group urged Starbucks to "publicly commit to a global policy of neutrality," said Trillium Asset Management, Parnassus Investments and other Starbucks shareholders who manage some $3.4 trillion in assets.

Looking externally

News of Schultz' return drew a cool response from Starbucks Workers United, which referred to the executive as a "leader in Starbucks' anti-union campaign," and urged him "to put union-busting behind him."

Ahead of the union vote, Schultz visited Buffalo in November to try to persuade workers against voting for the group.

In a letter to workers titled "From Buffalo with love," Schultz highlighted Starbucks' benefits for workers, including health care and free college tuition, saying he was "saddened and concerned" that workers felt outside representation was needed.

But staff at two Buffalo cafes voted with Starbucks Workers United on December 9. Since then, additional Buffalo-area shops have also voted with the group, along with a cafe in Mesa, Arizona, while employees at dozens more are working to form a union.

Equity analysts at investment firm Cowen said they were "a bit surprised" that Starbucks was searching for external CEO candidates, naming a number of high-ranking executives who could have taken over.

"We note a strong internal bench, but believe unionization publicity could be a factor pushing the company to look externally," Cowen said in a note.

Shares of Starbucks jumped 5.4 percent to $87.61 in afternoon trading.

Longtime Starbucks chief Howard Schultz will return to the helm of the global coffee shop chain, the company announced Wednesday, serving as interim CEO while the company searches for a new leader amid a growing unionization drive.

Longtime Starbucks chief Howard Schultz will return to the helm of the global coffee shop chain, the company announced Wednesday, serving as interim CEO while the company searches for a new leader amid a growing unionization drive. Kevin Johnson, who has led the coffee giant since 2017, plans to retire next month, the company said, adding it expects to name a new CEO by the fall. Schultz, 68, who first joined the company in 1982, grew Starbucks from a small Seattle coffee chain into a global juggernaut in two earlier stints as chief executive. He also flirted with running for the US presidency in 2020, but ultimately opted against seeking office. His real-time wealth was valued at $4 billion on Wednesday, according to a Forbes list of the richest people in the world. "When you love something, you have a deep sense of responsibility to help when called," Schultz said. "Although I did not plan to return to Starbucks, I know the company must transform once again to meet a new and exciting future where all of our stakeholders mutually flourish." Shares of the coffee chain rocketed higher Wednesday, even as union leaders expressed misgivings about Schultz. 'Reputational risk' With more than 34,000 stores worldwide, Starbucks reported a record $29.1 billion in annual revenues last year but has struggled of late to manage rising costs amid a tight labor market and supply chain problems. Besides inflation, which is a headwind challenging companies throughout the economy, Starbucks is confronting a growing wave of unionization campaigns that has spread to more than 100 US stores after workers at two upstate New York cafes voted to form a union in December. Johnson, 61, told the board a year ago that he was considering retiring in the wake of the upheaval of the pandemic, calling the decision "a natural bookend to my 13 years with the company," according to the company press release. Starbucks said it had enlisted recruitment firm Russell Reynolds Associates in "continuous CEO succession planning" since 2021. Johnson plans to work as a consultant to the company through September. The union movement poses challenges for the chain, which has been viewed as a worker-friendly company by many political progressives in the United States given its stance on gay marriage, race relations, the environment and other issues. But Starbucks' tactics to discourage workers from unionization poses "reputational risk," shareholder activists argued in a letter sent to Johnson and Starbucks Chair Mellody Hobson ahead of the company's annual meeting later Wednesday. Highlighting "alleged retaliatory termination and continued captive audience meetings," the shareholder group urged Starbucks to "publicly commit to a global policy of neutrality," said Trillium Asset Management, Parnassus Investments and other Starbucks shareholders who manage some $3.4 trillion in assets. Looking externally News of Schultz' return drew a cool response from Starbucks Workers United, which referred to the executive as a "leader in Starbucks' anti-union campaign," and urged him "to put union-busting behind him." Ahead of the union vote, Schultz visited Buffalo in November to try to persuade workers against voting for the group. In a letter to workers titled "From Buffalo with love," Schultz highlighted Starbucks' benefits for workers, including health care and free college tuition, saying he was "saddened and concerned" that workers felt outside representation was needed. But staff at two Buffalo cafes voted with Starbucks Workers United on December 9. Since then, additional Buffalo-area shops have also voted with the group, along with a cafe in Mesa, Arizona, while employees at dozens more are working to form a union. Equity analysts at investment firm Cowen said they were "a bit surprised" that Starbucks was searching for external CEO candidates, naming a number of high-ranking executives who could have taken over. "We note a strong internal bench, but believe unionization publicity could be a factor pushing the company to look externally," Cowen said in a note. Shares of Starbucks jumped 5.4 percent to $87.61 in afternoon trading.

Howard Schultz returns to Starbucks as interim leader, Johnson exits

Crude oil prices rose up sharply on Wednesday, surging nearly 5% on concerns of a supply crunch even after countries agreed to release 60 million barrels of oil from reserves around the world.

Oil prices surge $110 per barrel

India's gross domestic product (GDP) for the third quarter ended December 31, 2021 grew by 5.4%. The growth in GDP during 2021-22 is estimated at 8.9% as compared to a contraction of 6.6% IN 2020-21.

India's GDP growth at 5.4% in Q3, FY22 growth estimated at 8.9%

Oil prices soared nearly $2 per barrel on Friday as Russia’s invasion of Ukraine continued to inflame global supply concerns. The attack on Ukraine caused prices to surge to more than $100 a barrel for the first time since 2014 on Thursday.

Oil prices surge 2% to $101/barrel as Russian invasion of Ukraine rings supply alarm bells

Asia-Pacific shares have regained ground on Friday as investors assessed the Russia-Ukraine conflict following a massive comeback on Wall Street overnight.

Asia-Pacific markets rise as investors shrug off Russia-Ukraine tensions

Oil prices have surged hitting a record seven-year high as fears over energy supplies escalate. Russia is the world's second largest oil exporter and top natural gas producer.

Oil prices hit a record 7-year-high, fears of global energy supply escalate

The Dutch antitrust watchdog on Monday fined apple Apple 5 million euros ($5.72 million) for a third time for failing to allow software application makers in the Netherlands to use non-Apple payment methods for dating apps listed in the company's App Store.

Dutch watchdog fines Apple $5.7 million again in App Store dispute

Japan's manufacturing activity expanded at the slowest pace in five months in February as output contracted, underscoring the prolonged impact that global supply chain disruptions are having on the world's third-largest economy.

Japan's Feb factory activity growth falls to 5-month low

India's largest life insurance company is going public in March, it's expected to make its initial public offering now there are a lot of unknowns about this decision and questions are there why is LIC going public, how big will be the IPO and how many shares will be on offer?

Why is LIC going public, how big will be the IPO?

Life Insurance Corporation of India (LIC) has filed its draft share sale prospectus with the capital markets regulator SEBI, paving the way for India’s largest initial public offering (IPO).

Life Insurance Corporation of India files $8 billion IPO papers

Asian share markets mostly eased on Monday after stunningly strong US jobs data soothed concerns about the global economy but also added to the risk of an aggressive tightening by the Federal Reserve.

Asia shares slip as US jobs data fears over global recovery

Starbucks will raise menu prices this year and reduce some spending to offset soaring costs for labor and goods, as rising COVID-19 cases prompted the coffee chain to lower estimates for profits this year.

Starbucks to hike prices to offset inflation

India's leading two-wheeler manufacturer TVS Motor has bought Switzerland’s largest electric bike company Swiss e-Mobility Group (SEMG); it is Switzerland’s largest electric bike company.

TVS acquires 75% in Swiss e-bike player

Apple has posted its record sales over holiday quarter beating profit estimates and forecasting, its shortfall that is narrowing now it shows iPhone maker is overcoming the costly global shortage in computer chips.

Apple sales and profit top estimates as hit from chip shortages eases

Uncertainty over whether south American country Argentina will pay back debt is looming as the country is facing deadline for nearly 1.1 billion dollar intent repayment to IMF.

Argentina faces $1.1 billion debt deadline

Worries about the possibilities of a quicker rate hike from the US Fed Reserve have dragged the global markets down. Indian markets have witnessed marginal recovery after falling for six-straight days.

Anxiety over US Fed decision drags down markets

Former Lebanese Prime Minister Saad Hariri said that he was suspending his role in political life. Announcing that he would not run in the upcoming parliamentary elections this comes as a shock for the West Asia nation that is dealing with its worst financial collapse in decades.

Former Lebanese Prime Minister Saad Hariri suspends political career

Lebanon's financial collapse since 2019 is a story of how a vision for rebuilding a nation once known that Switzerland of middle east was derailed by mismanagement. Lebanon is grappling with a deep economic crisis after successive governments they piled up debt following 1975 to 1990's civil war with little to show for their spending binge.

Lebanon's middle class squeezed by economic crisis

Oil prices jumped as geopolitical tensions in eastern Europe and the middle east heightened concerns about an already tight supply outlook.

Fears of tighter supplies back oil prices

South Korea unveiled a 14 trillion won ($11.75bn) supplementary budget to support the self-employed and small businesses that have taken a hefty loans from extended COVID-19 curbs.

South Korea unveils $12bn supplementary budget

General Motors claims that it plans to expand its hydrogen fuel cell business beyond vehicles by supplying hydrogen-powered generators for uses including at construction sites, music festivals, data centers and the military.

GM targets hydrogen-powered generators to expand fuel cell business

China's property sector crisis has deepened. After reports came that another property giant Shimao had to put all of its projects up for sale and Evergrande attempted another high-profile default.

China: Property giant Shimao had to put all of its projects up for sale

Animations to video clips sales of NFTs reached some 25 billion dollars in 2021, as the cumulative crypto-asset exploded in popularity. However, reports say there are signs of growth slowing towards the end of the year.

Non-Fungible token sales hit $25 Billion dollars in 2021

Registering its second annual decline in a row Mexico's auto production fell by almost two percent last year in comparison to 2022. This is Mexico's flagship industrial sector struggling to pull past the pandemic shocks and also a global semiconductor shortage.

World Business Watch: Mexico's flagship industrial sector struggles

There's been another wave of Covid19 infections across India driven by the Omicron variant of the Coronavirus, and this, of course, had a serious impact on India's aviation sector.

World Business Watch: Air passengers numbers in India decline

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