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Oil major Shell has sought to defend its decision to buy a heavily-discounted consignment of oil from Russia, saying it would commit the profits to a fund dedicated to humanitarian aid for Ukraine. On Friday, Shell purchased 100,000 metric tons of flagship Urals crude from Russia. It was reportedly bought at a record discount, with many firms shunning Russian oil due to Moscow’s unprovoked invasion of its neighbor. The purchase did not violate any Western sanctions. Shell said in a statement late Saturday that it had been in “intense talks with governments and continue to follow their guidance around this issue of security of supply, and are acutely aware we have to navigate this dilemma with the utmost care.” The company has faced heavy criticism from Ukraine’s Foreign Minister Dmytro Kuleba, who wants companies to cut all business ties with Russia. “One question to Shell: doesn’t Russian oil smell Ukrainian blood for you?” Kuleba said in a tweet Saturday. Speaking on Monday, Kuleba launched a scathing attack on firms still doing business with Russia, saying that some major oil companies could find themselves on the wrong side of history.

Remember back to when you received your first paycheck. You were so excited. You knew how much you were earning per hour and how many hours you worked, and you couldn’t wait to go out and splurge on something you’ve been dying to get. You were handed your paycheck envelope and tore into it with great anticipation and … wait a minute … that’s not even close to what you expected. This was your first hard lesson about taxes – the government wants a piece of what you earn at work. SEE MORE The Inflation Hedge You’ve Never Heard Of Unfortunately, stopping work in retirement doesn’t mean the taxes stop too. But making a plan now to mitigate risks like rising taxes can help prevent unfortunate surprises while you’re trying to enjoy your golden years. Thinking through how your retirement savings and income will be taxed – and creating a tax-efficient withdrawal strategy to minimize the effect of taxation – can help you have a better idea of how much money will end up in your pocket instead of Uncle Sam’s.

Shell pledged on Saturday to put any profits it makes from the purchase of Russian oil into a special fund to assist Ukrainians after receiving intense backlash for buying a Russian oil shipment.In a statement posted on Twitter, the oil…

HOUSEBUILDING firm Barratt Developments have helped bolster The Sun’s Ukraine Fund with a generous £50,000 donation. Our big-hearted readers have already been donating in their droves since we launched our appeal in aid of the Red Cross last week. Donate here to help Sun’s fund The donation by the Barratt Foundation will go straight to the Red […]

Read More The post Shell puts profits from Russian oil trade into fund appeared first on Daily Business .

China Sets Annual GDP Growth Target At "Around 5.5%" Signaling More Stimulus China''s legislature began its annual session on Saturday by targeting "around 5.5%" GDP growth for 2022. The GDP goal, delivered by Premier Li Keqiang to the National People''s Congress, compares with the "over 6%" target Li presented last year. This year''s National People''s Congress session will run seven days, down from the pre-COVID norm of 10. In an hourlong speech at the opening of the National People’s Congress to nearly 2,800 attendees including President Xi Jinping, Li described a gloomy environment and committed the government to a conservative fiscal policy, vowed to “step up implementation” of monetary policy and stabilize house prices, and signaling that more stimulus is on the cards by setting an aggressive economic growth target, calling for confidence amid rising domestic strains and global instability stemming from Russia’s invasion of Ukraine. "A comprehensive analysis of evolving dynamics at home and abroad indicates that this year, our country will encounter many more risks and challenges," Li said.

Jefferies Group LLC reduced its stake in Infinera Co. by 97.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned…

NEW DELHI: Vodafone Idea''s (VI) board approval to allot preference shares to promoters at a premium was positive but analysts noted that most of this Rs 4,500 crore-fundraising would go towards covering the telco''s payables towards Indus Towers, leaving limited funds to invest in networks.Edelweiss said the long-awaited fund infusion is definitely a positive for Vodafone Idea but this is only a small part of the estimated Rs 15,000 crore capital raise."Vodafone group''s capital infusion will come with a caveat that it will be used for repayment of Indus Towers (Indus) dues, which, to an extent, reduces ability to invest in the network. We believe that for long term sustainability of the company significant capital infusion and tariff hike more than doubling the ARPU are essential," the brokerage said.The stock fell 7.67 per cent to hit a low of Rs 10.23 in Friday''s trade. Vodafone group entities will infuse Rs 3,375 crore from the proceeds of its stake sale in Indus Towers and the Aditya Birla Group entity will infuse the remaining Rs 1,125 crore.The equity issue will lead to a 12 per cent dilution on the current equity base.Vodafone Idea intends to further raise capital of up to Rs 10,000 crore through equity/debt instruments in one or more tranches.

The auto major announced the fund as it unveiled its new identity ''Vida'' for the company''s emerging mobility solutions, including upcoming electric vehicles (EVs).

The auto major announced the fund as it unveiled its new identity #39;Vida#39; for the company#39;s emerging mobility solutions, including upcoming electric vehicles (EVs).

The change comes after the January departure of Chief Operating Officer and SoftBank Group International Chief Executive Officer Marcelo Claure, who was responsible for the Latin American fund.

Ukraine To Issue NFT Collection To Fund Armed Forces; Pussy Riot Raises $6.6 Million With Flag Pic Ukraine has abandoned plans to reward crypto donors with an ''AirDrop'' - a term used to describe a free transfer of a digital asset - and will instead issue its own collection of NFTs in order to fund its war with Russia , according to Ukraine''s vice-prime minister Mykhailo Fedorov. Adidas ''bored ape'' NFT "we will announce NFTs to support Ukrainian Armed Forces soon. We DO NOT HAVE any plans to issue any fungible tokens," he said in a Thursday tweet. After careful consideration we decided to cancel airdrop. Every day there are more and more people willing to help Ukraine to fight back the agression. Instead, we will announce NFTs to support Ukrainian Armed Forces soon. We DO NOT HAVE any plans to issue any fungible tokens — Mykhailo Fedorov (@FedorovMykhailo) March 3, 2022 Ukraine''s embrace of digital assets as a way to fund its armed forces comes after it raised approximately $200 million in "war bonds," according to the Financial Times .

The £1bn Janus Henderson UK Property fund may be facing closure as Nuveen has reportedly hired CBRE to independently value the assets in the fund.