Tag Archives: Business

It was not immediately clear based off Musk’s tweet if any official steps had been taken to halt the acquisition. There’s another twist in the Twitter deal.

Applications for unemployment benefits rose by 1,000 to 203,000 for the week ending May 7, the US Department of Labor reported Thursday.

The meltdown in TerraUSD, one of the world’s largest stablecoins, sent shockwaves through cryptocurrency markets on Thursday, pushing another stablecoin Tether below its dollar peg and sending bitcoin to 16-month lows. Cryptocurrencies have been swept up in a sell-off across higher risk assets, which has picked up steam this week …

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 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.

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’ …

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 …

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 …

Oil prices rose on Thursday amid concerns about supply as the European Union (EU) mulls a potential ban on Russian oil imports days after diminished supplies from Libya rocked the market. Brent crude futures rose $1.13, or 1.1%, to $107.93 a barrel at 1228 GMT. U.S. West Texas Intermediate (WTI) …

The ongoing conflict has not interrupted energy supplies Russia continues to supply natural gas to Europe through Ukrainian territory without interruptions, the spokesman for Russian energy major Gazprom, Sergey Kupriyanov, told the media on Monday. “Gazprom supplies Russian gas for transit through Ukrainian territory in accordance with requests of European …

The Tesla owner has questioned Saudi Arabia’s role in the tech company after the prince ‘rejects’ the proposed deal. Elon Musk has questioned Saudi Arabia’s role in Twitter Inc after Saudi Arabia’s Prince Alwaleed bin Talal tweeted his opposition to the billionaire entrepreneur’s offer to buy the social media company. …

Oil prices extended gains on Wednesday after Moscow said peace talks with Ukraine had reached a dead end, feeding worries about tight supplies even after U.S. crude stocks rose by more than 9 million barrels. Brent crude was up $1.94, or 1.9%, to $106.58 a barrel by 11:03 a.m. (1508 …

A Twitter investor claims Elon Musk has gained millions of dollars by ‘deflating’ share prices through delayed disclosure A Twitter investor, Marc Rasella, has accused the SpaceX founder and the world’s richest man, Elon Musk of causing him to lose money through “misleading statements” about his purchase of a large …

Inflation hit a fresh 40-year record in March as U.S. consumer prices rose 8.5% from a year ago, the Labor Department said on Tuesday. The Consumer Price Index, which tracks a basket of goods and services, jumped 1.2% in March after increasing 0.8% in February, showing that inflation gained speed …

Oil prices drifted lower on Friday and were set to drop around 3% for the week as consuming countries’ planned release of 240 million barrels from emergency stocks offset some concerns over reduced supplies from Russia due to western sanctions. Brent crude futures edged lower by 55 cents, or 0.6% …

Oil prices rose on Thursday from a three-week low touched in the previous session after consuming nations announced a huge release of oil from emergency reserves, as worries over tight supplies still clouded the market outlook. Brent crude futures climbed $1.42 or 1.4%, to $102.52 a barrel at 0651 GMT, …

French President Emmanuel Macron and Italian Prime Minister Mario Draghi called Thursday on the EU to reform its fiscal rules in order to allow greater investment spending while acknowledging the necessity to reduce debts. “Just as the rules could not be allowed to stand in the way of our response …