Police with riot shields – More than 100 police with riot shields advanced towards anti-mandate protests down Molesworth St north of parliament this morning, triggering scuffles after a night of riotous behaviour in the streets around parliament. More forklifts arrived to put more concrete blocks in place to block cars from entering and to prevent protestors from driving cars at police from inside.
Ukraine border clash - Russian forces destroyed two Ukrainian army vehicles with anti-tank missiles overnight, killing five people and sparking a 14% fall in Russian stocks as fears grew an invasion was imminent. There had been some relief earlier in the evening after US President Joe Biden agreed “in principle” to a French proposal for a face-to-face last-ditch meeting with Russian President Vladimir Putin. The relief was short-lived after Moscow downplayed the prospects.
Market reaction – US financial markets are closed for George Washington’s birthday, but S&P 500 futures were down 1% around 7.30 am NZT. Earlier, German stocks fell 2% on the news of military action. The Russian stock slump reflects investors' fears that sanctions could cut them off from the global financial system, while retired Russian army generals are worried Russia could become bogged down in an Afghanistan-style guerrilla war inside Ukraine. Oil prices rose about 2% in London trade.
Credit Suisse leak – The Guardian and Germany’s Süddeutsche Zeitung reported overnight from the leak of a data trove detailing secret bank accounts of 30,000 clients holding US$80b in funds connected to human trafficking, money laundering, corruption and other serious crimes. “We can reveal how Credit Suisse repeatedly either opened or maintained bank accounts for a panoramic array of high-risk clients across the world. They include a human trafficker in the Philippines, a Hong Kong stock exchange boss jailed for bribery, a billionaire who ordered the murder of his Lebanese pop star girlfriend and executives who looted Venezuela’s state oil company, as well as corrupt politicians from Egypt to Ukraine,” The Guardian reported.
Overseas funding for protestors – Stuff reported this morning the massive operation to feed, power, and cover the occupation of parliament is partly funded by a Canadian website linked to its ‘Freedom Convoy’. Protesters said they had been told parking tickets could be taken to the occupation information tent and would be paid. Also outing himself as a funder was Marty Verry, of the Red Stag group, which was notable in earlier times for its support of the Labour party.
Fresh on BusinessDesk this morning
Victoria Young reports last calendar year saw fewer liquidations than the year prior, with companies hanging on despite the impact of covid-19.
Trevor McKewen reports on how Israel Adesanya has just signed the second-biggest deal in UFC history behind Conor McGregor’s US$150m deal.
Oliver Lewis reports on how a tuna fishing company has had to forfeit its ship to the government twice in two years for fisheries offences.
Brent Melville reports on how the hospitality sector is pleading for self-isolation removal.
