No Fun in War ☮️

Hi,

If you’re in Nigeria, you probably can’t imagine a scenario like this because of the current fuel scarcity Nigeria is grappling with:

In a Nigeria without scarcity, Tomi be like:

Fuel aside though, the world is still reeling from the War in Ukraine and your favourite companies are reacting.

Let’s dive into this week’s agenda, shall we?!

Russia is being cancelled! 🇷🇺

Companies have taken action to limit, put on hold or exit business activities in Russia following a wave of sanctions imposed after Moscow’s invasion of Ukraine. The whole country is being cancelled, effectively!

Here are some of the companies that have “cancelled” Russia so far:

Entertainment: Hollywood studios – Disney, Warner Bros, and Sony Pictures Entertainment suspended new film releases in Russia 🎬
Sports Apparel: Adidas suspended its partnership with the Russian Football Union with immediate effect. Nike has also made merchandise purchases on its website and app unavailable in Russia as it cannot guarantee delivery. ⚽🏀 Yikes!
Technology Gadgets: Apple paused all product sales in Russia. 📱 No new Iphones/Macbooks?🥶
Apps: Google blocked mobile apps connected to Russian broadcasters

These companies to Russia:

Cars/Machinery: General Motors and Sweden’s Volvo Cars suspended vehicle exports to Russia until further notice. Harley-Davidson suspended its business and shipments of bikes to Russia, while Ford suspended operations in Russia until further notice. 🏍️🚗
Even Big Oil is cancelling too! 🤯 France’s TotalEnergies would no longer provide capital for new projects in Russia. BP abandoned its 19.75% stake in Russian oil giant Rosneft, while Shell would exit all its Russian operations. ExxonMobil will exit Russian oil and gas operations that it has valued at more than $4 billion. This is huge; considering how crucial Oil is to the Russian economy!
Shipment: UPS and FedEx are halting delivery services to Russia and Ukraine.📪 Shipping group Maersk will temporarily halt all container shipping to and from Russia. Deutsche Post has stopped DHL deliveries to Russia. How will Russians get deliveries now?

Where are the Avengers when we need them?

Uber & Airbnb are helping Ukraine! 🇺🇦

Lots of big companies are helping with their humanitarian efforts, but today’s prize has to go to Airbnb & Uber!

There is an estimate of over 500,000 Ukrainians who have fled since the war began. Airbnb said it will offer free, temporary housing for up to 100,000 of these refugees fleeing Ukraine. The company will fund these stays with help from Airbnb hosts and donations to the Airbnb.org Refugee Fund. 🏠

“We need help to meet this goal,” Airbnb co-founder and CEO Brian Chesky said on Twitter. “The greatest need we have is for more people who can offer their homes in nearby countries, including Poland, Germany, Hungary and Romania,” Chesky tweeted. Well said!

Let’s give Airbnb a round of applause:

Uber on Wednesday said it would be offering unlimited free rides between the Ukraine-Poland border and two Polish cities.

The service is part of a broader set of initiatives Uber announced Wednesday to support Ukraine in the face of the Russian invasion. “Our teams are working 24/7 to keep impacted employees, riders, and drivers safe and are partnering with NGOs to support relief efforts on the ground,” the company said.

Kudos to Uber for doing their best for humanity:

The Double Combo Run of Oil and Gold

There is a popular saying that there are no winners in a war.

As much as that’s true, Gold and Oil be killing it out here!

The tension caused by the Russian invasion of Ukraine has caused the price of both Oil and Gold to reach a historical high, as more investors find safe havens in them. On Thursday, U.S. oil prices touched levels not seen since September 2008. Prices for Brent crude oil neared $119 a barrel, before settling back down to $110 a barrel on the day. 🤑🛢️

My people, if you have been following some Oil and Gold ETFs since they started, you should have seen some sweet profit by now oooo. {Not financial advice sha}

Oil prices have surged roughly 20% since Russia’s invasion of Ukraine amid fears of production cuts from Russia and that of Gold has seen 15% a while Palladium rose 5.8%, bringing this week’s gain to about 24%, on concerns over potential supply disruptions. Russia produces about 40% of the metal mined globally. Silver and platinum edged higher.

Sweet, golden profits! 🤑

Investors in Gold & Oil:

We released Trove 2.0!

This week, we successfully released Trove 2.0 to much fanfare!

The new version of Trove comes with many new features such as Stock Gifting, Debit Cards, P2P Transfers and much more to turbocharge your journey as a global investor.

Here’s a recap of our launch event if you missed it: