Business

With most Americans focused on economic woes at home, a majority told the survey they were fine with Ukraine losing to Moscow

German officials are quietly preparing for any sudden halt in Russian gas supplies with an emergency package that could include taking control of critical firms, three people familiar with the matter told Reuters. The preparations being led by the Ministry for Economic Affairs show the heightened state of alert about …

Bitcoin fell to its lowest level since July 2021 on Monday as slumping equity markets continued to hurt cryptocurrencies, which are currently trading in line with so-called riskier assets like tech stocks. Bitcoin dropped to as low as $32,763.16 shortly before 1100 GMT, in its fifth consecutive session of falling. …

The entire G7 club of rich nations is “committed to phasing out or banning the import of Russian oil,” the White House said Sunday, escalating pressure on President Vladimir Putin over the invasion of Ukraine. “This will hit hard at the main artery of Putin’s economy and deny him the …

The US on Sunday unveiled sanctions against three Russian television stations, banned Americans from providing accounting and consulting services to Russians, and sanctioned executives from Gazprombank to punish Moscow for its invasion of Ukraine.

The Russian ruble briefly reached its highest level against the dollar since March 2020 on Thursday, supported by capital controls, while stock indexes also climbed as the market watched developments around possible new sanctions against Moscow. The volatile currency hit a high of 65.31 per dollar in early trading on …

OPEC and allied oil-producing countries decided Thursday to stick to a modest increase in production, even as Europe’s proposed phaseout of Russian oil threatens to yank millions of barrels off a global market already thirsty for crude.

The Bank of England warns of recession risk as it hikes interest rate to tackle soaring inflation

The US trade deficit hit a new record of $109.8 billion in March fueled by strong demand for computers, vehicles, and oil, according to a report by the US Census Bureau released on Wednesday.

West Texas Intermediate dropped 3.58 percent while global benchmark Brent slid 3.2 percent. Oil declined in tandem with equities as China’s stringent measures to curb Covid-19 threatened a further hit to economic activity and fuel demand. West Texas Intermediate futures slid 3.4% as data showing a sharp economic contraction in …

Russia said on Saturday it expected commodity flows with China to grow and trade with Beijing to reach $200 billion by 2024, as Moscow faces mounting isolation from the West. China has refused to condemn Russia’s actions in Ukraine and has criticized the unprecedented Western sanctions on Moscow. The two …

The figures come as Beijing doggedly pursues a zero-Covid response leading to lockdown measures in several cities. China’s manufacturing activity slumped to its lowest level since February 2020, official data showed on Saturday, the latest sign of economic pain as Beijing doggedly pursues its zero-Covid response. The official Purchasing Managers’ …

Libya is losing tens of millions of dollars a day from the shutdown of its oil facilities, while global prices are at their highest in years, the country’s oil minister told AFP. Oil is the lifeblood of the North African country trying to move past a decade of conflict since …

Russia’s central bank Friday said it was cutting its key interest rate for a second straight time as risks of price rises and financial instability were no longer rising. The Bank of Russia said it was slashing the rate from 17 percent to 14 percent from May 4, a greater …

Ukraine war takes toll on economy of European countries using the euro as inflation reaches record levels and output weakens. Inflation in the eurozone hit a new record this month while growth slowed during the first quarter of the year, according to official data, as the war in Ukraine takes …

Russia halted gas supplies to Bulgaria and Poland on Wednesday for rejecting its demand for payment in roubles, taking direct aim at European economies in its toughest retaliation so far against international sanctions over the war in Ukraine. The step was denounced by European leaders as “blackmail”, and comes as …

The Russian rouble strengthened on Monday, firming past 77 against the euro to a near two-year high, helped by tax payments that companies are due to make this week and as the market looked ahead to a central bank rate decision on Friday. By 1453 GMT, the rouble had gained …

Twitter’s board is negotiating with CEO Elon Musk over his bid to buy the social media platform and a deal could be announced as early as Monday, according to media reports. Twitter and Musk negotiated into the early hours Monday over his bid to buy the social media platform, The …

Brussels is weighing options after the total oil and gas embargo was met with strong resistance The European Union has failed to reach a consensus on a full ban on Russian oil and gas imports but says that an agreement will be reached in the coming weeks. Member states are …

Amid reports that consumer confidence is touching an all-time low in the UK, the French finance minister has predicted “a new era of higher inflation” for France and partner countries. Bruno Le Maire was quoted as saying by BFM TV on Friday that inflation will be high in 2022 in …