Russian companies, facing $115 billion of debt due over the next 12 months, will have the funds even as bond markets shut because of the Ukraine crisis, according to Moody’s Investors Service and Fitch Ratings.
Sharp Corp.’s bond risk, the highest among Japanese credit-default swaps, is falling as the supplier of displays for iPhones takes steps that may allow a return to the bond market for the first time since 2009.
Forcing Russia out of global financial markets is the strongest tool at U.S. President Barack Obama’s disposal if he wants to stop Vladimir Putin’s territorial ambitions, according to former government officials and sanctions specialists.
Present and past owners of OAO Bank Rossiya, the only company hit with sanctions for Russia’s takeover of Crimea, include three billionaires, two proteges of a Nobel Laureate and, according to a Spanish prosecutor, one possible mob boss.
Foreign aid has long been one of the most unpalatable dishes on the federal plate. Why should U.S. taxpayers give billions of dollars to ungrateful countries that will waste it and whose people don’t like America anyway?
Shanghai’s over-the-counter equity market was almost deserted on a weekday morning last week. Two cleaning ladies swept the floor of a trading hall devoid of brokers or computers, while a woman at an information desk ate breakfast and talked on her mobile phone.