Hockey equipment company CCM is dropping Alex Ovechkin and other Russian hockey players from their global marketing campaigns. Live updates on the crisis
But the conflict will have consequences for the whole world as it cuts off crucial energy and crop supplies, disrupts businesses and upsets financial markets, already under extreme stress as central banks prepare to tighten.
But at least one Canadian company, Toronto-headquartered Kinross Gold Corp., which operates a high-grade underground mine in the far east of Russia, has abstained from criticizing Russia and indicated it plans to continue operating there as long as possible.Gold recently pierced a one-year high, reaching US$1,930 per ounce, up eight per cent in the past 30 days, a surge most attribute to the increase in geopolitical tensions as a result of the invasion.
Prices were already rising, but the conflict in Ukraine is adding to inflationary pressures, policy makers said in today’s statement. The bank now expects inflation rates, now at 5.1 per cent, to stay higher for longer.Article content
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