The Treasury imposed sanctions on the entity, previously called Subsidiary Bank Sberbank of Russia Joint Stock Co, in February last year in response to what Russia calls a "special military operation" in Ukraine. Sberbank, Russia's largest lender, sold its Kazakh subsidiary in August to Kazakh state-owned financial holding company Baiterek.
U.S. stocks seesawed Tuesday afternoon after Federal Jerome Powell signaled in a highly anticipated speech that more rate hikes were needed than the market is pricing in, while embracing the presence of disinflation in the economy.
Zoom is to make 1,300 layoffs, letting go of around 15pc of its workforce as the Covid-19 pandemic’s work-from-home culture comes to a crashing halt.