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FirstFT: Russia captures first major city in Ukraine

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Vladimir Putin’s forces have intensified Their first big city in Ukraine last night After eight days of fighting that displaced more than a million people.

The reported capture of Kherson, a provincial capital of more than 250,000, would mark a significant breakthrough for Russia’s southern campaign, which had made steady territorial progress in contrast to its northern and eastern offensive.

Fierce fighting has also been reported further east along the coast in Mariupol, which has been heavily bombed in recent days as pro-Moscow Russian and separatist forces from Donetsk envelop the port of Azov.

But the long armored column advancing in Kiev got stuck in the face of unexpected resistance, logistical obstacles and a shortage of fuel and food. Residents in the capital said they heard four huge explosions just before dawn.

Russia admitted yesterday Heavy losses For the first time, it reveals 498 deaths and 1,597 injuries.

The invasion took a heavy human toll, creating a refugee crisis that has grown rapidly on a scale not seen in continental Europe since the fall of Nazi Germany. The UN estimates that more than a million, mostly women and children, have fled Ukraine, mainly to neighboring countries Poland, Hungary, Slovakia and Moldova.

  • Military briefing: I’m Russia Tightens his grip On the southern coastline of Ukraine and encircles the strategically important port of Mariupol. In addition, the Russian soldiers who expected to be greeted as liberators but did Rough awakening.

  • Market briefing: Global commodity prices are on the way to rising their biggest week even more From five decades For the war in Ukraine provokes “extraordinary moves” in raw materials from oil to wheat.

  • Financial services: Citigroup said this yesterday Risked a loss of about $ 4 billion due to exposure to Russia On its first investor day in almost five years.

  • Business: The corporate withdrawal from Russia marks End of periodSays a professor of Russian history at the London School of Economics.

  • Explains: Will the West impose an embargo on Russian oil and gas supplies? Western leaders are considering The inconceivable in the past.

  • Sanctions: British Cabinet Secretary Michael Gove is making plans for that Seize British property Owned by Russian oligarchs with links to Putin. Roman Abramovich, meanwhile, has named the Chelsea Football Club For Sale.

  • opinion: Gillian Tett of the FT shares what she learned from him Dinner with Volodymyr Zlansky. Law firms in London can no longer hide behind the “law” to justify the continuation of morally dubious relationships, Loading Cat Rutter Pooley.

Follow our soldiers’ movements regularly updated Map of the conflict And follow us Live blog For the latest developments.

Sign up Get the essential newsletter from Valentina Pop Fellow, Europe Express, for the latest analysis and response.

Thank you for reading FirstFT Americas. Here’s the rest of today’s news – Gordon

1. Trump ‘Criminal Conspiracy’ The former president and his allies may have “participated in a criminal plot to defraud the United States” in an attempt to block the confirmation of Joe Biden’s presidential victory, and the Congressional Commission is investigating the attack on the U.S. Capitol building. Concluded.

2. CNN makes a $ 350 million bet on streaming WarnerMedia has Rushed to launch CNN Plus’ streaming service ahead of Discovery’s planned takeover, with a $ 350 million gamble on the digital future of the news channel that was not originally revealed to its incoming owner.

3. The credibility of his former partner Goldman was investigated in the 1MDB trial Tim Lissner, the government’s star witness in the 1MDB trial, has arrived Checked in yesterday During the criminal trial of a former colleague who was charged in connection with the affair. Defendant Roger Ng’s attorneys sought to focus on the discrepancies between the answers Lisner gave to prosecutors and statements he had previously made to the FBI.

4. Pluto founder sells $ 50 million worth of shares John Foley did his thing Largest stock sale Since retiring as Pluto’s CEO to MSD Partners, a $ 20 billion asset manager named after Michael Dell, founder of Dell Technologies, and other outside investors.

5. Turkish inflation exceeds 54% Prices in Turkey have risen at their own pace The fastest pace in 20 years Depreciation in the currency that fueled inflation. Food prices climbed 64.5% last month and transport jumped 75.8%, pushing the consumer price index to its highest level since March 2002.

The day ahead

Anthony Blinken in Brussels US Secretary of State Travel to Brussels For meetings with NATO and G7 allies, before moving to Poland, the Baltic states and Moldova. Meanwhile, a second round of talks between Ukraine and Russia is expected to take place today in Belarus.

Jay Powell testifies before the Senate committee The chairman of the Federal Reserve is scheduled to testify Monday at Capitol Hill. Yesterday he told the House Financial Services Committee that he would support coming “Series” of interest rate increases March despite the economic uncertainty around Ukraine.

PMI surveys The Institute for Supply Management publishes its non-manufacturing activity index for February and the Department of Commerce is expected to report a 0.7% increase in plant orders for January, after a decrease of 0.4% in the previous month.

Gains Singapore technology company Grab will share profits in the fourth quarter and full year – its first results system since Listing on the Nasdaq Stock Exchange In December. Broadcom Inc. Releases First Quarter Results. They are likely to be driven by strong demand for chips used in data centers and 5G devices.

What else are we reading

Kathy Wood did not get that far to stop A year ago, the founder of Ark Invest managed assets of more than $ 60 billion. She’s dealing with now The toughest battle of her careerAs she fights the market swing and tries to stop huge losses and exits.

Investors can no longer afford to ignore geopolitical risk The idea that business can be different from politics Wrong, Writes Helen Thomas. The battalions of analysts and lobbyists employed by them in all sectors offer large companies to assess that they are not operating in a vacuum.

The tumultuous politics of South Korea The winner of the presidential election will take the helm of the tenth largest economy in the world and a manufacturing powerhouse in East Asia. But he will also inherit a An unfortunate act of balance Between the US and China and an unresolved conflict with North Korea.

“Greedy work has become less greedy” In the final part of our “Exchange of Economists” series, Sarah O’Connor talks with Claudia Goldin, a professor of economics at Harvard University, about whether Covid-19 might hold top positions More compatible with family life.

How the influencer industry really works Conservative estimates indicate that there are more than 3.5 million people in the influencer industry. And according to German data firm Statista, the market was worth $ 13.8 billion in 2021. Get rich or lie tryingSimeon Brown takes a critical look at this and other forms of online “bustle”.

obituary

Critic Clement Crisp, whose distinguished prose has graced the pages of the Financial Times’ Arts Pages for six decades, died at the age of 95. “To read it was to quote it,” writes Alsteyer McCauley in This assessment Of his life.

Clement Crisp talks to dancers Noel Christian, Alexandra Blasova and Phyllis Badles in 1969 © Royal Academy of Dance / ArenaPAL

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