LVIV, Ukraine-Russian forces launched airstrikes on Ukrainian positions inside the besieged port city of Mariupol early Wednesday, a day after Russian President Vladimir Putin said peace talks with Kyiv had reached a dead end, as troops from both sides exchanged fire ahead of an expected uptick in violence.
Russia is redeploying troops from around the Kyiv area, where its initial attempt to take the capital failed, to southern and eastern Ukraine, where it made early gains in the first weeks of the invasion. Ukraine has used the lull in fighting to boost appeals to the West for more weapons and sanctions on Russia as several European leaders visited the capital Kyiv on Wednesday.
Russia's Oil Industry, Linchpin of Economy, Feels Sting of Ukraine War Disruptions
Oil is backing up through Russia's energy supply chain and leading to a drop in crude-oil production, a blow to Moscow's main economic engine as the war in Ukraine rages.
Refiners are trimming output and in some cases closing down because of falling demand at home and abroad. Storage space is running low in pipelines and tanks. Wells, which pump from some of the world's biggest crude reserves, are dialing down production.
Stellantis Shareholders Reject Executive Pay Packages, Including for CEO
PARIS-Stellantis NV shareholders took the unusual step Wednesday of rejecting the Jeep maker's pay plan for top executives, including Chief Executive Carlos Tavares.
The move follows criticism by the French government and a small French investor that the CEO specifically was earning too much and his pay package was abnormal.
JPMorgan CEO Jamie Dimon Says 'Powerful Forces' Threaten U.S. Economy
JPMorgan Chase & Co.'s pandemic boom ended with a 42% drop in profits and a warning: Rising inflation and the war in Ukraine pose big threats to the U.S. economy.
Chief Executive Jamie Dimon said the economy is strong and growing, citing double-digit growth in card spending, low delinquencies and healthy household and consumer balance sheets. But the bank surprised Wall Street by setting aside $900 million in new funds to prepare for economic turmoil; a year ago, it freed up $5.2 billion it had reserved for potential loan losses in the pandemic's early months.
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Expected Major Events for Thursday
05:00/FIN: Mar CPI
06:00/SWE: Mar CPI
06:30/SWI: Mar Import Price Index
06:30/SWI: Mar PPI
07:00/SVK: Mar CPI
07:00/SVK: Mar Core & net inflation development
07:00/SVK: Feb New orders in industry
08:30/UK: 1Q Bank of England's Bank Liabilities Survey
08:30/UK: 1Q Bank of England Credit Conditions Survey
10:00/IRL: Feb Goods Exports and Imports
11:00/TUR: Turkish interest rate decision
11:45/EU: ECB interest rate announcement
15:59/UKR: Feb Trade
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This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
04-14-22 0036ET
