Bloomberg - Evening Briefing - Global outrage

Bloomberg Evening Briefing

President Joe Biden said Vladimir Putin should be tried for war crimes as the U.S. and European Union consider more sanctions to further punish Russia—this time for an alleged mass killing of civilians that’s fueled global outrage. The EU condemned atrocities committed against Ukrainian civilians that were discovered as Russia withdrew from around Kyiv, including allegations of torture and executions. Ukraine said more than 400 dead civilians have been found in the towns around Kyiv. In a statement on behalf of the 27-nation bloc, EU chief foreign envoy Josep Borrell blamed the occupying Russian forces for the dead bodies seen strewn across the streets of Bucha. “The Russian authorities are responsible for these atrocities, committed while they had effective control of the area,” Borrell said. “The massacres in the town of Bucha and other Ukrainian towns will be inscribed in the list of atrocities committed on European soil.”

A woman walks past destroyed Russian tanks in Bucha, near Kyiv, on April 3. Ukrainian authorities say hundreds of dead civilians have been discovered as Russians move their troops away from the capital. Photographer: Rodrigo Abd/AP Photo

Ukraine said Moscow’s attacks were ongoing, including on the besieged port city of Mariupol as well as Odessa, as the world’s attention focused on what Ukraine’s President Volodymyr Zelenskiy—who just visited Bucha—said was evidence of Russian-perpetrated genocide. The Kremlin has denied the allegations. The Defense Ministry in Kyiv and U.S. officials said Russia is regrouping to gain a tactical advantage in the east and south, storing fuel and organizing hospitals for an influx of wounded as it prepares for a new offensive. Zelenskiy has called for tougher sanctions against Russia when the G-7 meets this week. But despite global condemnation of Putin and a corporate exodus, some Russian products are still in demand. The metals industry, for example, is still buying up Russian supply. 

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Bucha’s atrocities aren’t the first to be attributed to Russia’s military, Clara Ferreira Marques writes in Bloomberg Opinion, and they may not be the last. Retreating soldiers are leaving behind evidence of brutal civilian killings, she writes. Absent further action to make this war too costly for the Kremlin, this will not be a one-off.

Worried about the omicron subvariant? Newer Covid-19 mutations emerging in China and the rise of a potentially more transmissible strain in the U.K. has recast the spotlight on the ongoing risk of the coronavirus. The World Health Organization said a hybrid of two omicron strains—BA.1 and BA.2—that was first detected in the U.K. and dubbed XE could be the most transmissible variant yet. 

Morgan Stanley says “the bear market rally is over.” The recent rebound in equity markets will prove short-lived, one of Wall Street’s most vocal bears said on Monday, advising investors to seek refuge in bonds.

Elon Musk is diversifying the world’s largest fortune with a 9.2% stake in Twitter. Twitter shares surged after the Tesla CEO’s purchase—which now makes him the largest shareholder in the company—was revealed Monday in a regulatory filing.

Elon Musk Photographer: Samuel Corum/Bloomberg

Tech shares drove gains in American stocks Monday, powered by Twitter. But Starbucks declined after founder Howard Schultz suspended a share-buyback plan. Here’s your markets wrap 

The pause on student-loan payments has been a financially transformative experience for many Americans, allowing them to pay down debt, improve their credit scores and save for the first time. But with the forbearance period scheduled to end May 1, those struggling with college debt fear they’ll slip back into precarious financial positions. 

Over a dozen superyachts have been impounded or seized in European ports in the past five weeks as part of sweeping sanctions leveled at Russian billionaires. Authorities have now seized at least 13 Russian superyachts worth a combined $2.25 billion, with vows of more to come.

What you’ll need to know tomorrow

Apple Isn’t Making It Easy To Work Remotely

Apple wants its staff to start coming back to its multibillion-dollar suite of global offices. Employees are required back in the office at least once a week by April 11, twice a week by the end of the month, and on Mondays, Tuesdays, and Thursdays by May 23. But the company’s relatively inflexible remote-work policies are inspiring some employees tolook elsewhere for work. Apple knows corporate employees—using its products as tools—can capably work from home. So why can’t its own staff?

Outside Apple’s flagship store in New York. Photographer: Gabby Jones/Bloomberg

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