In MACRO & OIL NEWS, China aims low on growth, appeals are made for China as mediator, crude oil goes higher as the US talks to Venezuela and Total sticks with its Russian assets. In ACTIONS & CONSEQUENCES, UK lawyers, Visa, Mastercard and Amex withdraw from Russia, Moscow pivots to the Chinese card system and Next heads for the exit. Meanwhile, a food crisis looms, there's a shortage of building materials, Russian airlines are decimated, VTB prepares to pull out and private schools could lose out. In MISCELLANEOUS NEWS, TikTok is exposed, prospects improve for UK M&A and the FCA warns about crypto being used for money laundering. AND FINALLY, I bring you the secret to fluffy towels...
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