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A prominent US oilfield services company is boldly expanding its operations in Russia even as competitors pull back. Investors are increasingly turning to US treasuries amidst rising recession fears. Meanwhile, retail sales in the US made a remarkable rebound, raising hopes for a stable economic future. In a separate financial saga, Coca-Cola faces a staggering potential $16 billion tax bill due to a prolonged dispute with federal authorities, shedding light on their intricate tax strategies.
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Quick takeaways
- SLB's expansion in Russia amid geopolitical tensions highlights the complex interplay between business interests and international politics.
- Investors are returning to U.S. treasuries, viewing them as a safe haven amidst recession fears and shifting interest rate expectations.
Deep dives
US Oil Company Expands in Russia
A major U.S.-based oil field services company, SLB, is expanding its operations in Russia despite many Western firms withdrawing due to geopolitical tensions following the invasion of Ukraine. SLB is signing new contracts and hiring additional staff in the region, filling a gap left by other companies. The absence of sanctions specifically targeting oil field services allows SLB to continue its activities, as countries are apprehensive about the potential impact on global fossil fuel exports and prices. This situation underscores the complexities that lie in balancing business interests with international political considerations.
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