World economy
Putin talks tough on gas-for-rubles deadline. But European leaders aren’t too worried
Russian President Vladimir Putin has demanded so-called “unfriendly” countries pay for Russian gas in rubles. Mikhail Klimentyev | Afp | Getty Images Russian President Vladimir Putin has sought to ratchet up the pressure on foreign buyers of natural gas, telling so-called “unfriendly” countries to pay in rubles from Friday — or have their supplies cut […]
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European stocks set for muted open to start second quarter; Russia-Ukraine in focus
LONDON — European markets are set for a cautious start to the second quarter on Friday, with talks between Russia and Ukraine continuing to guide investor sentiment. Britain’s FTSE 100 is seen around 4 points lower at 7,512, Germany’s DAX is expected to shed around 15 points to 14,400 and France’s CAC 40 is set […]
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Citi raises its forecast for China’s GDP growth, bringing it closer to the official target
Real estate and related sectors account for at least 25% of China’s economy, according to Moody’s. Costfoto | Future Publishing | Getty Images BEIJING — China’s economy faces so much new pressure from Covid that Beijing may increase stimulus — boosting overall growth, Citi said Thursday. “Given the strong start of the year and the […]
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Putin’s strength now looks like his main weakness, with people too loyal — or scared — to challenge him
Russian President Vladimir Putin marks the Defender of the Fatheland Day in 2015 in central Moscow, Russia, with military officials surrounding him. Sasha Mordovets | Getty Images News | Getty Images President Vladimir Putin’s immense power looks like it might now be a key weakness for the Russian leader, with those around him seemingly too […]
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Investor Kyle Bass: Globalization isn’t over, just don’t invest in countries run by despots
Kyle BassThe Russia’s unprovoked war against Ukraine is not a death knell for globalization but should be a wake-up call about the risks of investing in countries that aren’t democracies, Texas hedge fund manager Kyle Bass said on CNBC on Thursday, “You don’t have to paint it with that broad of a brush,” the founder […]
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Russian troops sabotaging their own equipment and refusing orders in Ukraine, UK spy chief says
Jeremy Fleming, director of U.K. intelligence agency GCHQ, pictured in November 2019. Fleming delivered a speech in Canberra, Australia on Thursday in which he addressed the war in Ukraine. Joe Giddens | PA Images | Getty Images Russian President Vladimir Putin has misjudged the situation in Ukraine, but his advisors are scared of telling him […]
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European stocks muted after a tumultuous month for markets
LONDON — European stocks were mixed on the last trading day of March, a month marked by global geopolitical and economic uncertainty after Russia’s invasion of Ukraine. The pan-European Stoxx 600 hovered 0.2% below the flatline by mid-afternoon, but was on course to eke out a monthly gain for March. Utilities gained 0.9% while retail […]
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Nord Stream 2 cost $11 billion to build. Now, the Russia-Europe gas pipeline is unused and abandoned
A worker adjusts a pipeline valve at the Gazprom PJSC Slavyanskaya compressor station, the starting point of the Nord Stream 2 gas pipeline, in Ust-Luga, Russia, on Thursday, Jan. 28, 2021. Bloomberg | Bloomberg | Getty Images One of the early casualties of Russia’s invasion of Ukraine — and its continuing geopolitical and economic fallout […]
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China’s zero-Covid policy tests small businesses in a make-or-break it year
Shanghai is in a two-part lockdown and has announced about 140 billion yuan ($21.88 billion) in tax relief, according to state media. The eastern half of the Chinese financial hub is in lockdown as authorities test all the city’s population in a bid to contain the epidemic. Yu Ruwen | Future Publishing | Getty Images […]
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BofA says iPhone demand still strong despite reports of production cutback
Tim Cook at the Apple launch event, March 8, 2022 Apple Bank of America analysts said on Wednesday that iPhone demand is still strong despite a recent report that said Apple cut production of its iPhone 13 and new iPhone SE. “While these articles might lead some investors to think there is risk to demand, […]
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