Source link The country’s public finances are in a “catastrophic” state, a source from the organization has told TASS Ukraine could go bankrupt as early as next year unless Western countries agree to write off or restructure its debts, an official from the World Bank told TASS on Saturday. Kiev is reliant on financial aid […]
Source link Russians are scaling back their property investments in Dubai due to a rise in local prices and tighter US sanctions compliance policy in the emirate, Bloomberg reported on Thursday. Dubai’s property boom in the years following the Covid-19 pandemic has been one of the fastest in the world, fueled by investor-friendly reforms and […]
Source link The combined wealth of the richest people in the US has grown to $44.6 trillion, according to the Federal Reserve The wealthiest Americans got even richer last year and now possess $44.6 trillion in combined assets, thanks to the skyrocketing stock market, CNBC reported on Thursday, citing new data from the Federal Reserve. […]
Source link Chinese companies are producing too many batteries, solar panels and electric cars, harming American workers, US Treasury Secretary Janet Yellen has said. She intends to bring up the issue on her trip to Beijing next month. Yellen spoke on Wednesday at a solar cell manufacturing facility in Georgia, which closed in 2017 due […]
Source link The disgraced crypto mogul “orchestrated one of the largest financial frauds in history,” government prosecutors argued FTX co-founder Sam Bankman-Fried has been sentenced to 25 years in a US federal prison for stealing billions of dollars from customers and defrauding investors. The one-time cryptocurrency guru has also been ordered to pay $11 billion […]
Source link Moscow has introduced tight requirements for companies wishing to divest, ensuring local buyers receive major discounts on businesses that are leaving Western companies that have left the Russian market amid sanctions have suffered billions in write-downs and lost revenue, Reuters reported on Thursday, citing calculations based on company filings and statements. The US […]
Source link GDP is now expected to grow by just 0.1% this year, leading economic think tanks say A group of leading German economic institutes have slashed growth forecasts for the EU’s top economy in 2024 to 0.1% from an earlier projection of 1.3%. In a “Joint Diagnosis” report published on Wednesday, the economic think […]
Source link Pension savings will run out because people are living longer, Larry Fink has warned Larry Fink, the head of BlackRock, the world’s largest asset management firm, has warned that demographics will inevitably strain pension systems and that longer lives are projected to force workers to retire later. In his annual letter to chief […]
Source link The collapse of Baltimore’s Francis Scott Key Bridge, which has cut off ocean routes to the city’s major port, is expected to cause severe disruptions to local transport and logistics, producing ripple effects on global supply chains. The four-lane bridge collapsed on Tuesday after being hit by the Singapore-registered container ship Dali, operated […]
Source link Attacks on companies that do business in Russia continue despite Kiev shutting down its list of ‘international war sponsors’ A Ukrainian group in Germany is pressuring retailers in the country to remove Milka chocolate from their shelves because its international producer continues to do business in Russia. Kiev and NGOs supporting its cause […]
Source link The commodity broke above the $10,000-per-metric-ton mark on Tuesday for the first time ever The price of cocoa beans surged to an all-time high on Tuesday, amid supply constraints in West Africa, which produces about 70% of the crop globally. Benchmark cocoa futures for May delivery on the Intercontinental Exchange (ICE) in New […]
Source link Russia has started supplying oil directly to North Korea in defiance of UN sanctions, the Financial Times reported on Tuesday, citing satellite images as evidence. According to the report, the images that were shared with the outlet by a UK think-tank – the Royal United Services Institute (RUSI) – show that at least […]
Source link Shares of Truth Social’s parent company soared by 50% in the first minute of trading Trump Media & Technology Group, the parent company of Truth Social, former US President Donald Trump’s online platform, began trading on the NASDAQ stock market on Tuesday. Shares rose so quickly they triggered the fail-safe mechanism. Shares of […]
Source link The news agency has reported numerous cases of illegal trade and activation of satellite terminals Starlink satellite communication terminals can be purchased illegally in countries where no agreement exists for the use of Elon Musk’s SpaceX network – including nations that are subject to international sanctions, Bloomberg reported on Tuesday. A growing black-market […]
Source link European traders face delays and extra costs as business heads elsewhere, the newspaper has reported Western restrictions on Russian diamond imports have destabilized the entire industry, as traders struggle to verify gems heading to the EU, the Sunday Times has reported, citing market players. A direct EU and G7 ban on Russian diamonds […]