Exxon warns of billions in write-off on Russian project
The US oil company Exxon Mobil might be expensive for its involvement in Russia. The company is working on ending its activities on a Russian project. However, the entire book value of the $4 billion Exxon investment may have to be written off.
Banking Association: reform of private deposit insurance decided
The delegates’ meeting of the banking association today approved the board’s proposal to reform the voluntary deposit insurance system. The Association of German Banks announced that the reform might come into force on January 1, 2023 as planned. With the comprehensive reform, the private banks fundamentally reorganized deposit insurance.
Confectionery industry warns of existence-threatening situation due to Ukraine war
The existence of the German confectionery industry is threatened by the effects of the Ukraine war. “Even with the Corona pandemic, energy, agricultural raw materials, packaging, but also transport have become massively expensive,” said the Federal Association of the German Confectionery Industry (BDSI). The Ukraine war has exacerbated this situation “drastically and to an extent that is life-threatening”. The BDSI warned in particular of the consequences of energy bottlenecks.
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(END) Dow Jones Newswires
April 04, 2022 13:02 ET (17:02 GMT)