World
Russia attempts last-ditch dollar bond payments to try to avert historic default
Russia faces renewed threat of debt default on May 4, according to major ratings agencies, as the grace period comes to a close after it attempted to service its dollar bond payments in Russian rubles. Mikhail Tereshchenko | Sputnik | via Reuters Russia’s Finance Ministry said Friday that it had attempted overdue dollar payments on […]
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The Fed’s favorite inflation gauge rose 5.2% in March as worker pay fell further behind
Canned goods are displayed at a Safeway store on April 11, 2022 in San Anselmo, California. Justin Sullivan | Getty Images A measure that the Federal Reserve focuses on to gauge inflation rose in March, likely cementing the central bank’s intention to hike interest rates by half a percentage in May. The core personal consumption […]
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Prosecutors search Deutsche Bank HQ in money laundering investigation
A logo stands on display above the headquarters of Deutsche Bank AG at the Aurora Business Park in Moscow, Russia. Andrey Rudakov | Bloomberg | Getty Images Prosecutors, federal police and other officials searched Deutsche Bank’s headquarters in Frankfurt on Friday in a move Germany’s largest lender said was linked to suspicions of money laundering it […]
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Could there be war between Russia and the West? Strategists predict what could happen next
When relations between the West and Russia were bad, but not so bad: Russian President Vladimir Putin arrives for the U.S. – Russia Summit in 2021 in Switzerland. Mikhail Svetlov | Getty Images News | Getty Images The saber-rattling and rhetoric between Moscow and the West have become notably more aggressive this week, prompting concerns […]
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Russia cuts key interest rate to 14%, says inflation could hit 23% this year
Russia’s President Vladimir Putin (L) and Russian Central Bank Governor Elvira Nabiullina Alexei Nikolsky\TASS via Getty Images However, with the ruble now returning to pre-war levels, policymakers are turning their attention to recalibrating the economy in an effort to absorb the impact of punitive sanctions from international powers. “The external environment for the Russian economy […]
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Euro zone inflation hits record high for the sixth month in a row
Inflation in the euro zone remains well-above the ECB’s target, as energy and food prices soar. Bloomberg | Bloomberg | Getty Images Inflation in the euro zone has hit a record high for the sixth consecutive month, sparking further questions over how the European Central Bank will react. Headline inflation in the 19-member region reached […]
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The Bank of Japan may have limited tools to deal with the weak yen, but that’s not its focus
The Bank of Japan may be limited in its ability to deal with recent weakness in the yen, but experts who spoke with CNBC noted the currency is not really the central bank’s main focus anyway. The Japanese yen went above 130 against the dollar on Thursday after the BOJ reiterated its ultra-easy monetary policy […]
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It’s almost impossible for Europe to replace Russian gas in the short-term, OMV CEO says
Alfred Stern, CEO of OMV, said the energy company is “trying to find sanction-conformed solutions” after Russia demanded payment for gas in rubles. Source
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Top autos CEO warns of battery supply scarcity as EV competition heats up
In 2021, Volvo Cars said it planned to become a “fully electric car company” by the year 2030, a move which will require it to have a consistent and secure supply of batteries for its vehicles. Peerapon Boonyakiat /SOPA Images | LightRocket | Getty Images The new CEO and president of Volvo Cars has predicted […]
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South Korea to lift outdoor mask mandate starting next week
People wearing face masks walk through a railway station in Seoul on Feb. 18, 2022. Prime Minister Kim Boo-kyum announced on Friday South Korea will lift an outdoor face mask mandate starting next week. Jung Yeon-je | Afp | Getty Images South Korea said on Friday it will lift an outdoor face mask mandate next […]
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