Late fees... After a slew of Western sanctions, Russia’s hurtling toward default as it struggles to pay off foreign debts in USD. Moscow said it paid $117M due in interest last week, avoiding its first default since 1998. But it’s unclear whether Russia will make its $2B payment in April. Experts say a default likely won’t drag down global markets as it did in ’98, since banks have reduced Russian exposure. Still, Russia’s central bank says sanctions will cripple the country’s economy. Russian-linked entities owe international banks $121B.
The golden honor… This could be the year Netflix breaks its Oscar curse. The streamer’s favored to nab its first best-picture trophy on Sunday for “The Power of the Dog.” A win for the Flix would be a milestone for the Oscars, which have been slow to recognize streamer-made films in top categories. Another scoreboard to watch: ratings. Last year’s Oscars drew 10.4M viewers — 60% fewer than a year earlier (and 80% fewer from 1998’s high). ABC paid $1B in 2016 for rights to the Oscars, which now get a quarter of the viewers of NFL playoff games.