Russia swerves default as Putin forced into dollar U-turn – live updates

Good morning. BP has introduced plans to make share buybacks of $2.5bn this quarter after surging oil costs helped its money flows surge.

The vitality large mentioned booming costs had helped it offset a $25.5bn cost incurred after exiting its stake in Russian producer Rosneft. It posted a first-quarter revenue of $6.2bn, the best in a decade.

5 issues to begin your day 

1) Brussels accuses Apple of competitors breach over contactless funds The iPhone maker has been accused of breaking competitors legislation by limiting rivals’ means to create contactless cost apps.

2) Why London’s Russian restaurateurs concern a backlash over Ukraine Dining hotspots that after boasted of their hyperlinks to Putin are actually talking out in opposition to invasion.

3) London is battered by the rise of work at home Capital lags behind different cities as commuters shun the workplace.

4) Britain turns to South Korea in scramble to spice up nuclear energy Kwasi Kwarteng in talks over new era of reactors as UK seeks stronger vitality safety

5) Julian Jessop: Brexit is to not blame for the surge in inflation and hovering meals costs Experts are relying extra on predictions and fashions than exhausting details in current commentary on Britain.

What occurred in a single day 

Asia shares principally fell on Tuesday as markets brace for a pointy US rate of interest hike. Hong Kong returned from an extended weekend break to guide the retreat, shedding greater than 2pc at one level. Sydney additionally fell forward of an anticipated rate of interest hike by the Reserve Bank of Australia later within the day, whereas Taipei and Wellington have been additionally down. Seoul edged up barely, whereas Tokyo, Shanghai, Mumbai, Singapore and Jakarta have been closed.

Coming up at present

Full-year outcomes: Card manufacturing unit

Interims: BP

Economics: Manufacturing PMI, BRC store worth index (UK); unemployment charge (EU); manufacturing unit orders (US)

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