Source link The Biden administration’s fiscal policy is a cause for concern, according to a report The International Monetary Fund (IMF) has raised concerns about overspending by the US government, warning it has been reigniting inflation risks and undermining financial stability around the world. The US federal budget deficit jumped from $1.4 trillion in fiscal […]
Source link Exports from the country’s major ports surged to 3.95 million barrels a day in the week to April 14, data is showing Maritime exports of Russian crude almost climbed to a year-on-year high in the second week of April, Bloomberg reported on Tuesday, adding that flows from the country’s major ports were near […]
Source link Berlin remains highly dependent on Beijing for various products and raw materials, data shows It would take decades for German businesses to end their reliance on imports from China, the chief financial officer of industrial giant Siemens told the Financial Times on Sunday. Last year Berlin drew up a strategy that policymakers called […]
Source link Tesla will lay off more than 10% of its salaried workforce, according to an internal company-wide email sent to employees by CEO Elon Musk and seen by media outlets. Reuters on Monday cited an email sent to at least three US employees notifying them that their dismissal was effective immediately. According to EV […]
Source link The category outpaced vodka in quarterly growth at the beginning of this year, according to the regulator Vodka, Russia’s stereotypical national beverage, is beginning to lose out to lower-alcohol alternatives in terms of domestic sales, according to newly released data. Among alcoholic beverages, those classified as low-alcohol (meaning up to 9% alcohol content) […]
Source link Expropriating frozen funds would have long-ranging legal ramifications, experts warn The UK might not actually confiscate Russia’s immobilized assets despite political pledges to do so because such a step would violate the rule of law and lead to a litany of legal quandaries, according to sanctions experts cited by Politico in an article […]
Source link New Western sanctions against Russian metals are a weapon that cuts both ways, Kremlin spokesman Dmitry Peskov has said. The US and UK have targeted Russian-origin aluminum, copper, and nickel, aiming to reduce Moscow’s export revenues. The “illegal” restrictions introduced last week will backfire on the countries that imposed them, Peskov claimed on […]
Source link Samsung has regained the leading position as iPhone sales slide amid the US-China trade spat Samsung has overtaken Apple to reclaim its position as the globe’s top smartphone maker, preliminary data released by the research firm International Data Corporation (IDC) on Sunday showed. The South Korean tech giant lost the top spot to […]
Source link Speaking in Shanghai, Olaf Scholz has said the only prerequisite is that “competition must be fair” German Chancellor Olaf Scholz has spoken in favor of opening the European market to Chinese automakers as long as they compete “fairly” with other manufacturers. Scholz arrived in China on Sunday for his second visit to the […]
Source link Austrian Energy Minister Leonor Gewessler has revealed a plan to eliminate the country’s energy reliance on Moscow in less than half a decade, the Kurier newspaper reported on Friday, citing the draft legislation. The sanctions imposed by the EU on Russia due to the Ukraine conflict do not target gas imports. Nevertheless, Russian […]
Source link Washington and London have limited trading of Russian aluminum, copper and nickel on their exchanges Washington has banned the import of Russian-origin aluminum, copper and nickel into the United States, and coordinated with the UK to crack down on the trade of those metals on global exchanges. The decision will affect metals produced […]
Source link American air carriers have argued that use of Russian air space gives their Chinese rivals an “artificial” cost advantage US airlines have tried to fend off increased competition from Chinese rivals by appealing to President Joe Biden’s administration for help, arguing that Beijing has given its carriers unfair advantages through “anti-competitive” policies and […]
Source link Carrying out prohibited transactions and trade with Russia will now be considered a criminal offence, according to a new law The Council of the European Union adopted a law on Friday that criminalizes the violation and circumvention of EU sanctions. According to a press release published on the council’s website, the law covers […]
Source link The rally has been attributed to rising tensions in the Middle East that have spurred safe-haven demand The price of gold reached an all-time high on Friday, soaring above $2,400 per ounce as a global safe-haven rush continues. Spot gold prices rose 2.4% to a record high of $2,431.52 per ounce before pairing […]
Source link The tech giant has reportedly complied with an Indian request to drop the term ‘state-sponsored’ from malware attack notifications US tech giant Apple has warned its users in 92 countries that they were possible victims of a “mercenary spyware attack,” backtracking on the term ‘state-sponsored’ it had used in previous alerts to refer […]