World economy
Fertilizer prices are at record highs. Here’s what that means for the global economy
Workers spray fertilizer in a sugar cane field in Zacatepec de Hidalgo, in Morelos state, Mexico, May 31, 2017. Picture taken May 31, 2017. Edgard Garrido | Reuters LONDON — Supply shortages fueled by the Ukraine-Russia conflict, along with a host of pre-existing factors, have driven fertilizer prices to record highs. Prices for raw materials […]
Read More
Putin’s Russia looks increasingly desperate as Ukraine war nears stalemate, analysts say
Ukraine soldiers inspect the rubble of a destroyed apartment building in Kyiv on March 15, 2022, after strikes on residential areas killed at least two people, Ukraine emergency services said. Fadel Senna | Afp | Getty Images With Russia’s invasion of Ukraine now approaching its fourth week, President Vladimir Putin’s forces have exerted brutal force […]
Read More
China is managing its Covid outbreak one new local crisis at a time
A worker wearing personal protective equipment disinfects a truck entering JD.com’s logistics park in Shanghai, China, on Wednesday, March 9, 2022. Qilai Shen | Bloomberg | Getty Images BEIJING — As some parts of China reopen, others are imposing new Covid-related restrictions, reflecting the challenge government officials face in controlling the worst outbreak since early […]
Read More
The ‘Great Resignation’ has gone global – and it’s shaking up the labor market for good
Millions of workers worldwide have quit their jobs without something else lined up. So, what is the Big Quit, and how will it change our workforce? Chloe Loh, like many other workers across the world, epitomizes the “Great Resignation.” “I left my job in December,” Loh told CNBC. “I was looking for a role that […]
Read More
Saudi Aramco’s full-year profit more than doubles on soaring oil prices
An employee looks on at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. Maxim Shemetov | Reuters Saudi Arabian oil giant Aramco reported blowout full-year earnings on Sunday, posting a more than doubling in year-on-year net profit to $110 billion. Aramco’s 2021 net income increased by 124% to $110 billion in 2021, […]
Read More
European markets close higher, notch best weekly gain since 2020 amid Russia-Ukraine talks
LONDON — European markets closed higher on Friday, notching their best weekly gain since 2020, as investors tracked negotiations between Russia and Ukraine and digested a big week of central bank decisions. The pan-European Stoxx 600 provisionally ended 0.7% higher, with most sectors in positive territory and major bourses pointing in opposite directions. The index […]
Read More
Over 400 companies have withdrawn from Russia. But some Western brands are locked in
The Burger King name appears in Russian outside a Burger King fast food restaurant in Moscow, Russia, on Friday, April 5, 2013. Bloomberg | Getty Images Ukrainian President Volodymyr Zelelnskyy in his address to U.S. Congress Wednesday reiterated calls for all global brands to exit Russia — a market “flooded with [Ukrainian] blood” — as […]
Read More
Russia seems to have averted its historic bond default — for now
Russian President Vladimir Putin speaks during a meeting with representatives of the business community at the Kremlin in Moscow, Russia February 24, 2022. Aleksey Nikolskyi | Sputnik | via Reuters Russia appears to have sidestepped a historic debt default as it claims to have fulfilled crucial interest payments on two dollar-denominated eurobonds. Russia’s Finance Ministry […]
Read More
Putin’s next target may be Eastern Europe’s Moldova, analysts warn
Noul Neamt Monastery in Chitcani, Moldova, an area controlled by breakaway Transnistrian authorities. Pablo Bonfiglio | Moment | Getty Images Three weeks into the war in Ukraine, as Russia faces staunch and seemingly unexpected resistance on the ground, analysts have warned that President Vladimir Putin may be considering his next target: Moldova. A landlocked Eastern […]
Read More
Russia claims to have ordered crucial bond payment as it seeks to avoid historic debt default
Russian President Vladimir Putin talks to Finance Minister Anton Siluanov during the EEU Summit meeting on December 20, 2019 in Saint Petersburg, Russia. Mikhail Svetlov | Getty Images News | Getty Images Russia made payments on its sovereign bonds in dollars on Thursday and that money would be distributed to bondholders, according to a report […]
Read More