on tuesday the beleaguered swiss lender warned that additional litigation provisions and more subdued trading meant it only broke even in the quarter through december excluding an already announced goodwill writedown of 16 billion swiss francs equivalent to 175 billion the most worrying news was that its international wealth management businessits strategic focus and crown jewelhad net asset outflows in the period us plans sanctions export controls against russia if it invades ukraine the us is prepared to impose export controls on critical sectors of the russian economy if russian president vladimir putin invades ukraine and is working to soften market shocks if russia withholds energy supplies in retaliation officials said taking a page out of the trump administration playbook to pressure chinese telecom giant huawei technologies co senior administration officials on tuesday said the us could ban the export to russia of various products that use microelectronics based on us equipment software or technology opec and its russialed partners have promised to increase oil production to prepandemic levels this year but are falling short of those public commitments stoking fastrising global crude markets last month the organization of the petroleum exporting countries and its russialed allies increased their collective production by 250000 barrels a day or 60 of what the two groups promised for the month according to the international energy agency overall the group is pumping 790000 barrels a day below its publicly stated targets said the parisbased watchdog which advises industrialized nations on energy microsoft earnings grew last quarter with demand for cloud services microsoft corp said its earnings continued to grow last quarter as its cloudservices business stayed strong on tuesday the redmond wash software giant said its sales in the quarter ended in december hit 517 billion up 20 from a year earlier its net income rose 21 to 188 billion supplychain software provider o9 solutions inc has raised a new round of private funding that has more than doubled the dallasbased companys value to 27 billion in less than two years o9 said it received a 295 million equity investment from growthequity firm general atlantic its climatefocused investment strategy beyondnetzero and generation investment management a sustainability investor cofounded by former vice president al gore the latest funding comes as more companies focus on supplychain initiatives canadian national railway co named a new chief executive officer and made changes to its board tuesday moves that will allow the railroad operator to avert a proxy fight the canadian railroad operator named longtime railroad executive tracy robinson as ceo and president also ukbased activist tci fund management ltd agreed to drop its proxy contest at canadian national which named a new independent director and plans to appoint two new independent directors with north american railroad experience by its annual meeting all times in gmt powered by kantar media and dow jones write to us at newslettersdowjonescom we offer an enhanced version of this briefing that is optimized for viewing on mobile devices and sent directly to your email inbox if you would like to sign up please go to httpsnewspluswsjcomsubscriptions this article is a text version of a wall street journal newsletter published earlier today