1. Ukraine update: Biden calls for Russia to be removed from G-20
President Joe Biden has called for Russia’s removal from the G-20 group of major economies, with the US and its allies warning Vladimir Putin against the use of biological, chemical or nuclear weapons. In other developments, Ukrainian President Volodymyr Zelensky scolded NATO leaders for not responding to his plea for a no-fly zone over his country and called for more weapons deliveries and tighter sanctions on Russia. Biden warns against “real” global food shortages due to Russia and Ukraine being major wheat exporters, the UN General Assembly has condemned the Russian invasion, Pentagon says other nations free to send military aircraft, US is set to welcome up to 100,000 Ukrainian refugees.

2. Crypto claws back to $2 trillion market cap
A crypto rally overnight has seen the total value of digital assets cross the $2 trillion threshold for the first time in three weeks, gaining over 7% since Monday. “The crypto market’s apparent shift in sentiment follows months of downward price action for Bitcoin and altcoins, which led some investors to speculate about the possibility of a full-fledged bear market. Amid geopolitical unrest, however, members of the legacy finance community have identified crypto as a potential opportunity,” CoinTelegraph reports. Investment bank giant Goldman Sachs has reportedly put crypto on its radar. Bitcoin on bitstamp.net +3.7% to $US43,927.55 at 7.15am AEDT.

3. Yet another subscription to add to your laundry list of Netflix, Spotify, etc
Apple Inc is reportedly working on a subscription service for the iPhone and other mainstay hardware products. “The service would be Apple’s biggest push yet into automatically recurring sales, allowing users to subscribe to hardware for the first time -- rather than just digital services,” Bloomberg reports. With what is known so far, “the program would differ from an installment program in that the monthly charge wouldn’t be the price of the device split across 12 or 24 months. Rather, it would be a yet-to-be-determined monthly fee that depends on which device the user chooses”. Perhaps just a better way for Apple to lock-in pre-existing customers for the long term. Heads up, Android.

4. Russia-Ukraine war ending globalisation, according to BlackRock CEO
Larry Fink, CEO and chairman of the world’s biggest asset manager, BlackRock, which oversees some $US10 trillion in portfolios, says the current war in Ukraine is reversing the long-running trend of globalisation. "I believe this has exacerbated the polarization and extremist behavior we are seeing across society today," Fink said in his 2022 letter to shareholders. He also announced that BlackRock has suspended the purchase of any Russian securities in both its active and index portfolios. "I remain a long-term believer in the benefits of globalization and the power of global capital markets. Access to global capital enables companies to fund growth, countries to increase economic development, and more people to experience financial well-being," Fink said.

The CEO said BlackRock is committed to monitoring the direct and indirect impacts of the crisis and aimed to understand how to navigate this new investment environment.

5. ASX on the up as oil slips
ASX futures were up 38 points or 0.5% to 7386 near 7am AEDT, with the AUD +0.2% to 75.13 US cents. On Wall St: Dow +1% S&P 500 +1.4% Nasdaq +1.9%. Brent crude -1.4% to $US119.89 a barrel. 2-year yield: US +0.03% (2.13%) Australia -0.06% (1.47%). 10-year yield: US +0.08% (2.36%) Australia -0.01% (2.76%)