Finance

PepsiCo suffers $500 million loss because of Ukraine crisis

The price of the geopolitical situation around Russia and Ukraine for foreign producers continues to rise. PepsiCo reported on problems with production in the region on Tuesday.

Back in March, the company said it was ready to cut gross sales of products such as Pepsi and 7Up in Russia. But the company's "humanitarian obligation" prevents it from completely shutting down operations in Russia. The company has 20 thousand employees in Russia.

Today, the company stated that it needs $241 million to cover "portfolio impairment expenses" and another $241 million to compensate for production and trade problems in the Russian Federation.

ECB tries to save EU economy - central bank will be flexible in reinvesting PEPP program

The pandemic has left persistent vulnerabilities in the eurozone economy that contribute to the uneven normalization of our monetary policy among different countries, the ECB said. The ECB has instructed Eurosystem committees and ECB services to accelerate the development of a new mechanism to combat fragmentation. Why it matters. Rising

Price for oil price cap yet to be determined, head of European Commission

"The EU is ready in principle to go to the oil price cap," von der Leyen added. Earlier, the head of the U.S. Treasury Yellen said that the U.S. is not against the purchase of oil by India above the price cap. The WSJ also reported citing sources

U.S. officials forced to roll back plan to limit Russian oil prices - Bloomberg

India and China - Russia's most important trading partners - will not participate, Bloomberg sources said. The price cap plan is still alive after all. However, the price cap will be higher than previously thought. Earlier, U.S. Treasury Secretary Yellen said the price ceiling could be in the range

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