Oil prices continue to decline amid fears of a global economic slowdown, intensified after statements by Federal Reserve (Fed) Chairman Jerome Powell. Powell, who appeared before the Senate Banking Committee the previous day, said the Fed’s battle with high inflation would require a rate hike high enough to trigger a recession in the U.S. economy. […]

American holding PPG Industries, Inc. which includes Finnish paint and varnish producer Tikkurila, is leaving their Russia due to the situation in Ukraine, Tikkurila’s press service reports. “Currently, we continue to sell only the minimum volume in Russia, sufficient to obtain the necessary amount of local currency to pay our employees. Previously, we stopped all […]

US President Joe Biden has appealed to gasoline producers and suppliers to lower prices in the current environment, which he described as challenging. “I have a very simple message to fuel companies: these are extraordinary times, lower your prices, do it now, today. Your consumers, American citizens, should feel lighter,” he said. Earlier, Biden demonstrated […]

On Wednesday, the U.S. stock market showed modest growth after the head of the Federal Reserve Jerome Powell told the Senate that the central bank is determined to curb inflation and has the necessary tools to accomplish this task. Recession fears have intensified in recent weeks, weighing on stocks, but this week investors have tried […]

Promsvyazbank is considering the possibility of buying Northern Sea Route Bank (SMP Bank), Kommersant writes, citing sources familiar with the situation. According to the publication’s interlocutors, the parties have been discussing the deal since December 2021, and in early 2022 PSB conducted due diligence of SMP Bank, which took about two months. Neither analysts nor […]

The S&P 500 is now poised for its worst first half of the year since Richard Nixon’s presidency. About it writes Bloomberg. With only seven trading days left until the end of June, the index has fallen 21% since the beginning of the year amid expectations that the “toxic mix” of high inflation and aggressive […]

Bloomberg wrote about Russia forcing Iraq out of the Asian oil market, and crypto market players are selling off bitcoin mining cards en masse – these and other important news for Thursday morning, June 23, in our daily review. Due to large discounts on Russian energy resources, Asian importers began to favor Russia, weakening the […]

During today’s trading, the US dollar is getting cheaper against the euro and yen after the statements of the head of the Federal Reserve System (Fed) Jerome Powell about the risks of recession and rising unemployment. Calculated by ICE index, showing the dynamics of the dollar against six currencies (euro, Swiss franc, yen, Canadian dollar, […]

Japanese automaker Toyota Motor Corp. is recalling about 2,700 electric SUVs of the bZ4X model due to the threat of spontaneous unscrewing of wheels. According to the company, unscrewing of wheels in electric cars of this model may be due to loosening of bolts fixing them. The recall covers 2,200 cars sold in Europe and […]

In May, retail sales in the UK decreased by 0.5% compared to the previous month, according to data from the country’s National Statistics Office (ONS). The consensus forecast of experts surveyed by Bloomberg provided for a decrease in the indicator by 0.7%. Respondents Trading Economics also predicted its decrease by 0.7%. In annual terms, sales […]

Leonard Birnbaum, head of German concern E.ON, believes that in the conditions of reduced natural gas supplies from Russia, the Federal Republic of Germany should find ways to fully increase domestic production, including fracking. “We must now look for all solutions without taboos to help us improve the situation,” Birnbaum told the WirtschaftsWoche podcast. “We […]

In May, consumer prices in Japan increased by 2.5% compared to the same month a year earlier, according to data from the country’s Ministry of Internal Affairs and Communications. Inflation remained at the April level, which was the highest in 7.5 years and exceeded the 2% mark for the first time since September 2008, excluding […]

U.S. stock indexes fluctuated on Thursday, eventually closing in the plus side after U.S. Federal Reserve Chairman Jerome Powell wrapped up his two-day economic address to Congress. Powell told lawmakers that the central bank is determined to tame inflation, assuring them it has the tools to do so, although he acknowledged that recession is one […]

Hedge fund Dalio doubled its bet on the collapse of European stocks, and analysts estimated the share of Russians able to service loans at 23% – these and other important news for the morning of Friday, June 24, in our daily review. The Bank of Russia will lift acquiring restrictions at the level of 1% […]

German authorities will be forced to shut down some sectors of the economy if they face a gas shortage, Economy Minister and Vice Chancellor Robert Habeck said in an interview with Spiegel. “All market processes will be suspended. It will be a disaster for some sectors. And we are not talking about two days or […]

The Bank of Russia is extending for the period from July 1 to December 31, 2022 the previously introduced relaxation on non-application of measures to banks subject to foreign sanctions in case of non-compliance with open currency position limits (OCP), the regulator said in a statement. The decision was made to maintain financial stability of […]

Russia and China will continue to increase the share of settlements in national currencies, but a complete abandonment of the dollar is impossible, Russian Ambassador to China Andrei Denisov said on air of the Rossiya-24 TV channel (VGTRK). “It is impossible to completely abandon the dollar in principle, and no one sets such a goal, […]

The Russian stock market started today’s trading in a slight plus on the back of improving external stock market conditions. Stock indices of the largest countries in the Asia-Pacific region are rising today, following the dynamics of the U.S. stock market, which ended the previous day’s trading with a steady rise. Thursday’s trading in the […]