World economy
Total shutdown of Russian gas pipelines to Europe ‘is not inconceivable’
Russian President Vladimir Putin makes a toast as he takes part in the XIV BRICS summit in virtual format via a video call, in Moscow on June 23, 2022. Mikhail Metzel | AFP | Getty Images The Group of 7 nations need to brace for a complete shutdown of Russian gas pipelines in the near term, […]
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G-7’s infrastructure funding plan offers an alternative to China’s BRI in a ‘deliberate way’
The Group of 7 has announced a new infrastructure funding program that could rival China’s Belt and Road Initiative. One expert says the G-7’s plan offers hope to developing countries but it remains to be seen whether it can match the BRI. On Sunday, the U.S. and the other members of the G-7 including Canada, […]
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Avoidable or inevitable recession? Billionaire investor David Rubenstein on what decides it
Much of the U.S. market focus has been on the Federal Reserve’s more aggressive interest rate hikes as a reason to fear a recession. But Carlyle Group co-founder and co-chairman David Rubenstein, a billionaire investor and philanthropist, says the economy’s path may be beyond the central bank’s control, and two other global players are more […]
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Sri Lanka stops fuel supply to non-essential services as crisis worsens
A closed Ceylon Petroleum Corporation fuel station displays the availability of all fuel types on a board due to fuel shortage, amid the country’s economic crisis, in Colombo, Sri Lanka, June 27, 2022. Dinuka Liyanawatte | Reuters Sri Lanka will shut schools and only allow fuel supplies to services deemed essential like health, trains and […]
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European stocks close slightly higher; Prosus up nearly 16% on Tencent share sale plan
LONDON — European stocks closed slightly higher on Monday, as a positive trend seen at the end of last week’s trading lost some momentum. The pan-European Stoxx 600 index provisionally ended 0.6% higher, having traded up more than 1% earlier in the session. Mining stocks rose over 2% to lead the gains. In terms of […]
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Banking body BIS urges decisive wave of global rate hikes to stem inflation
The world’s central bank umbrella body, the Bank for International Settlements (BIS), has called for interest rates to be raised “quickly and decisively” to prevent the surge in inflation turning into something even more problematic. The Swiss-based BIS has held its annual meeting in recent days, where top central bankers met to discuss their current […]
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Suspected terror-linked shooting in Oslo kills 2, wounds 10
A gunman opened fire in Oslo’s night-life district early Saturday, killing two people and leaving 10 seriously wounded in what police are investigating as a possible terrorist attack during the Norwegian capital’s annual Pride festival. Investigators said the suspect, identified as a 42-year-old Norwegian citizen originally from Iran, was arrested after opening fire at three […]
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The No. 1 city in the world to travel and work remotely is in the US—and it isn’t New York or LA
Americans don’t need a passport to get to the No. 1 global city to take a working vacation. Kansas City, Missouri, was named the best city in the world to work during the day and explore after hours without having to use too much of your PTO time, according to a recent analysis from Icelandair. […]
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European stocks log best session in more than 3 months; tech shares gain 3.8%
LONDON — European markets closed sharply higher on Friday to end a volatile week, as investors around the world assessed inflation and fears of an economic recession. The pan-European Stoxx 600 index closed up by 2.6% provisionally, its best day in more than three months, with tech shares adding 3.8% to lead gains as all […]
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Jordan’s king says he would support a Middle East version of NATO
Jordan’s King Abdullah said he would support the formation of a Middle East military alliance similar to NATO, and that it can be done with countries that are like-minded. Thomas Kronsteiner | Getty Images News | Getty Images Jordan’s King Abdullah II said he would support the formation of a Middle East military alliance similar […]
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