World economy
European stocks slide 1.2% after undisclosed investor sells stakes in German banks; Deutsche Bank tanks 9.5%
LONDON — European markets sank Tuesday morning as traders monitored heaving selling in the banking sector, and looked ahead to key central bank meetings and U.S. inflation prints. The pan-European Euro Stoxx 600 index was down 1.2% in early deals, with the German DAX dropping 1.8% and the banking sector falling 2.3%. Reports on Monday […]
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In the U.S., consumers are paying more for everything. In China, the inflation problem is very different
Transportation fuel prices rose by 24.1% in China in March 2022 from a year ago, the largest increase within the country’s consumer price index. Vcg | Visual China Group | Getty Images BEIJING — Persistent inflation in China narrows the window for when the People’s Bank of China can cut interest rates and support growth, […]
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New omicron XE Covid variant first detected in the UK spreads to Japan as cases rise
As of April 5 2022, 1,125 cases of XE — a new scombinant subvariant — have been identified in the U.K., up from 637 on March 25. Dominic Lipinski | Pa Images | Getty Images Japan has reported its first case of omicron XE — a new Covid-19 strain first detected in the U.K. — […]
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War crime charges may not be enough to deter Putin — even as evidence of Russian atrocities mounts
The remains of a Russian rocket, one of two to be launched at a railway station in Kramatorsk, eastern Ukraine, killing 30 and injuring 100 more. Anatolii Stepanov | Afp | Getty Images In a week that uncovered the extent of Russian atrocities against Ukrainian civilians, an indiscriminate attack on a train station Friday appeared […]
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Senate votes to strip Russia of ‘most favored nation’ trade status
Russian President Vladimir Putin chairs a meeting with members of the Security Council at the Novo-Ogaryovo state residence outside Moscow, Russia April 7, 2022. Mikhail Klimentyev | Sputnik | Reuters The Senate voted unanimously on Thursday to revoke Russia’s “most-favored-nation” trade status, an economic downgrade that opens the door to new damaging tariffs on Moscow […]
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UK has detected a new Covid variant. Here’s what we know so far about omicron XE
According to the Office for National Statistics, 4.9 million people in Britain, or 1 in 13, were infected with Covid-19 as of March 26 — a record high since its survey began in April 2020. Bloomberg | Getty Images LONDON — A new omicron sub-variant has been detected in the U.K. as the country faces […]
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European stocks fall amid hawkish Fed comments, new Russia sanctions; Stoxx 600 down 1.6%
LONDON — European markets declined on Wednesday against a backdrop of hawkish comments from U.S. Federal Reserve officials and further sanctions against Russia. The pan-European Stoxx 600 fell 1.6% by early afternoon trade, with autos dropping 3.5% to lead losses as all sectors and major bourses slid into negative territory. Fed Governor Lael Brainard said […]
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Global government debt set to soar to record $71 trillion this year, new research says
People wearing protective face masks wait at a bus stop with a display of the current national debt amid the coronavirus disease (COVID-19) pandemic in Washington, January 31, 2022. Sarah Silbiger | Reuters LONDON — Global sovereign debt is expected to climb by 9.5% to a record $71.6 trillion in 2022, according to a new […]
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EU’s new Russia sanctions to likely include steel, luxury goods, jet fuel and more, sources say
European Commission President Ursula von der Leyen delivers a speech during a plenary session of the European Parliament at the EU headquarters in Brussels, on March 23, 2022. John Thys | AFP | Getty Images LUXEMBOURG — The European Union is working on a new package of sanctions against Russia that is likely to restrict […]
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Photos show world’s largest cargo plane destroyed in Ukraine
A Ukrainian serviceman walks by the wreckage of a cargo aircraft at the military airport in the town of Hostomel, on the outskirts of Kyiv, on April 3, 2022. Narciso Contreras | Anadolu Agency | Getty Images New images have shown the destruction to what was the world’s largest cargo plane, the Antonov An-225, following […]
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