NHK revealed on Friday that Panasonic Corporation intends to acquire land and construct an electric vehicle mega factory in the United States.
It has been revealed by JPMorgan that the impact of the sanctions on Russia would be close to the 1998 crisis.
Morningstar announced on March 3 that various international funds have stuck in Russian bonds and stocks nearly $60 billion.
At the start of the week's trading, crude oil price benchmarks started trading with a more than 10.00% surge. US light crude and UK's Brent oil prices reached above the $130.00 mark.
Visa has revealed that it would decrease consumer credit fees for small businesses in the US by 10%.
The rating agency S&P Global has revealed that it would decrease the rating of Russian credit to CCC- minus from BB- plus rating.
Throughout the week, the US Dollar index continued to gain value against peer currencies, as the currency reached levels not seen since the first half of 2020.
Due to the recent ongoing run to safety, the EUR/USD has declined below the 1.1000 mark, booking a low level not seen for two years.
Despite the ongoing surge of crude oil prices, downwards pressure was created during this week by the ongoing US talks with Iran. The talks caused a 2.00% decline during Thursday's trading.
During the week, prices for metals and various food products have been surging, as supplies from Russian and Ukraine were expected to be limited.
This week, the President of the Chicago Federal Reserve Charles Evans stated that the extremely high inflation in the United States creates risks for economic growth and should be addressed.
On Thursday, Nike and IKEA joined the major list of companies that would close their business in Russia due to trade restrictions.
This week, OPEC+ revealed that, despite the ongoing crude oil price surge, the organization would implement a modest production increase in April.
Ford Motor Company revealed this week that it would separate its electric vehicle and internal combustion engine businesses to be run as individual entities.
Boeing, Ford, Apple and Exxon announced on Wednesday that the companies would leave the Russian market due to sanctions set on the country.
This week, JPMorgan warned that the Russian government could soon default on its international debt.
On Wednesday, the Chairman of the US Federal Reserve confirmed to the US House of Representatives Financial Services Committee that the Fed would hike interest rates in March.
At 15:00 GMT, the Bank of Canada hiked its Overnight Rate from 0.25% to 0.50%. The rate hike was expected by the markets. The Canadian Dollar reacted to the news with a 20 base point drop and recovery over the span of three minutes.
During Wednesday's trading hours, the US Dollar index surged, as it hit a new high at 97.83 and approached June 2020 high levels.
Hedge funds and asset managers announced this week that they would continue to decrease their asset allocations in Russia, as sanctions were set on the country.
Throughout this week, various container shipping lines announced that they would stop the booking to and from the Russian Federation.
In January, US goods trade deficit increased to 7.10%, as imports increased by 1.70% and exports declined by 1.8%.
The President of Atlanta Federal Reserve Raphael Bostic stated this week that the Fed could increase rates by a half percent on March 15.
This week, Chevron announced that the company would be acquiring the biodiesel producer Renewable Energy Group for a sum of $3.15 billion.