Cryptocurrency exchange Binance said it will set aside $1 billion for a crypto industry recovery initiative to invest in companies in the digital asset sector, Reuters writes. The cryptocurrency market is currently teetering on the brink following the collapse of FTX, which has filed for bankruptcy protection in the US. The collapse of one of […]

Russia has recorded an alarming trend in the number of coronavirus infections, presidential spokesman Dmitry Peskov said. “The figures are really growing. We see that the curve has crept upward, it is not only in our country, but in a number of countries such dynamics is alarming is observed,” he said. Peskov advised those citizens […]

Oil prices are falling on Monday amid a general decline in investor appetite for risk due to information about the ongoing protests in China against covid restrictions. The cost of January futures for Brent crude oil on the London-based ICE Futures exchange by 8:10 Moscow time on Monday is $81.31 per barrel, which is $2.32 […]

U.S. online retailer Amazon.com Inc. is winding down some of its operations in India, including the company will stop delivering food, Bloomberg reports, citing sources. That indicates that even Amazon’s critical growing Indian market of 1.4 billion consumers is not immune to Chief Executive Officer Andy Jassy’s cost-cutting campaign, the agency said. Several projects under […]

The EU Council decided on Monday to include the violation of sanctions imposed by the European Union in the list of criminal “crimes in the EU.” “The EU has adopted an unprecedented number of sanctions targeting the Russian economy (…). To achieve results, their implementation requires joint efforts, and today’s decision is an important tool […]

The pace of economic recovery in India will slow down and will be about 6% for several years, analysts of Barclays Plc (LON:BARC) and Goldman Sachs Group Inc. forecast. According to experts, the growth rate at this level will be the best option for India, as it will allow to slow inflation in the country […]

European indices are trading lower on Monday: Ibex 35, Cac 40, DAX, as protests in major Chinese cities against China’s strict restrictions under its zero-tolerance COVID-19 policy heighten investor concerns about the growth implications for the world’s second-largest economy. Major Asian stock exchanges: the Nikkei, Shanghai Composite and Hang Seng are also down. According to […]

Friday’s US jobs report for November will be the main event this week as investors remain hopeful that the Federal Reserve will soon slow the pace of rate hikes. Fed chief Jerome Powell’s remarks in the middle of the week will be closely watched. Eurozone inflation data will also be in focus, as will China’s […]

According to analyst Amrita Sen of Energy Aspects, the European Union’s upcoming ban on Russian oil imports removes the price cap, which means that the bloc will still not buy Russian oil regardless of the price ceiling, writes Business insider. Recall that starting December 5, the EU will ban the importation by sea of oil […]

Analysts at Deutsche Bank predict the onset of a recession in the U.S. by mid-2023, when major stock indexes will fall 25% from levels slightly above today’s levels, Yahoo writes. Analysts also said earnings per share in the S&P 500 index would fall from $222 in 2022 to $195 in 2023. With its actions to […]

The head of the Accounts Chamber, Alexei Kudrin, will leave his post. This he reported in his Telegram-channel. “In total, I spent about 25 years in the public sector. Now I would like to focus on large projects that are related to the development in a broad sense of private initiatives, but at the same […]

Despite Brussels’ best efforts to shift away from Russian fuel, the region has so far failed to completely shake off its dependence on Russia for a vital source of energy, even though pipeline flows have all but stopped, The Financial Times reports. Imports of Russian liquefied natural gas transported by tankers rose by more than […]

Energy is one of those sectors that is connected to all spheres of everyday life. The ubiquity of electricity is one of the main factors that attract investors, as energy companies will always be able to find buyers for their products and will never lack sales. This is one of the reasons why energy companies […]

The island nation has warned of a potential blow to semiconductor production due to recent U.S. moves to reduce dependence on Taiwan’s advanced technology in this area, Bloomberg writes. The recently passed semiconductor law in the U.S., along with a similar proposal in Europe, “could directly or indirectly affect Taiwan’s exports of critical industries,” according […]

Consumer prices in France rose 6.2% year-on-year in November 2022, calculated by French standards, after the same increase in October, preliminary data from the national statistics office Insee showed. Consensus had suggested an increase of 6.1%. Relative to the previous month, prices rose by 0.4%. Food prices in France in November increased by 12.2% year-on-year […]

Ex-director of crypto exchange FTX Sam Bankman-Fried, whose fortune once totaled $26 billion, said that the last time he checked his bank account there was $100k, Business Insider writes. After the crypto exchange collapse, the bulk of his equity dropped from $15.6 billion to $1 billion in one day following news that the cryptocurrency exchange […]

Information technology giant Yahoo is planning to launch a stock trading platform to support growth – sort of becoming a Bloomberg analog for retail investors – and to get into sports betting as one of its many strategic moves, Business Insider writes. Yahoo reported annual revenue of $7.1 billion in 2020. Yahoo and AOL were […]

Mohammad El-Erian, chief economic advisor at Allianz (ETR:ALVG), said that the current forecasts of a recession in the U.S. are too bold, as there is not enough evidence yet that the coming downturn in the country’s economy will be short and shallow, Business Insider writes. In his view, many experts dismissed rising inflation last year […]