Oil surges amid warnings of supply shortages
Oil prices climbed 6% on Thursday after the International Energy Agency (IEA) said three million barrels a day (bpd) of Russian oil and products could be shut in from next month and despite the U.S. Federal Reserve’s decision to raise interest rates.
Exclusive: Moscow sets out new controls on foreigners trading Russia assets
Russia has set out strict rules for foreigners seeking permits to buy and sell Russian securities and real estate, a client memo by Citigroup (C.N) showed, as details emerge of new state controls on investment in response to Western sanctions.
NASA’s big, new moon rocket set for debut in the rollout to Florida launchpad
CAPE CANAVERAL, Fla., March 17 (Reuters) – NASA’s next-generation moon rocket was due on Thursday to make a highly anticipated, slow-motion journey from an assembly plant to its launch pad in Florida for a final round of tests in the coming weeks that will determine how soon the spacecraft can fly. Rollout of the towering […]
Tesla fired an employee who reviewed their driverless technology on YouTube
Last month Tesla fired an Autopilot employee. He was fired for sharing driverless tech reviews on his YouTube channel. John Bernal runs the YouTube channel AI Addict, where he posts videos of himself driving a Tesla and using its Full Self-Driving (FSD) feature. He was being candid about how Tesla’s Full Self Driving Beta system […]
Analysis: SPACs splash the cash to salvage deals as market unravels
SPACs are turning to costly new tactics to keep investors from jumping ship as market confidence wanes in the once red-hot alternative to IPOs.
Exclusive: ECB puts Russians in EU, even residents, under scanner
FRANKFURT/MADRID, March 15 (Reuters) – European Union regulators have told some banks to scrutinise transactions by all Russian and Belarusian clients, including EU residents, to ensure that they are not used to circumvent Western sanctions against Moscow, three sources told Reuters. The instructions from European Central Bank (ECB) supervisors mean tens of thousands of Russians […]
Explainer: Can Russia pay its creditors, and what happens if not?
Russia is due to pay $117 million in interest on two dollar-denominated sovereign bonds on Wednesday – the first such payments since its invasion of Ukraine which sparked a raft of sanctions from Western capitals and countermeasures from Moscow.
Sanctioned Russia teeters on brink of historic default
The economic cost of Russia’s assault on Ukraine was further exposed on Wednesday as the sanctions-hit country teetered on the brink of its first default on international debt since the Bolshevik revolution.
The current status of the job market in the United States is improving: finding workers remains a challenge
The world’s economy was thrown into chaos as the Covid-19 outbreak wreaked havoc on the globe just when everything appeared to be settling down. However, the Russia-Ukraine conflict has once again hampered the global economy. Oil and other commodities are becoming more expensive. As Covid-19 brought with it a sense of foreboding terror, dread, and […]
UniCredit considers quitting Russia as markets watch for sovereign debt payment
UniCredit (CRDI.MI) is urgently reviewing its Russian business and could decide on a costly exit of the country after its invasion of Ukraine, the Italian bank’s CEO said on Tuesday, as markets watch for a payment on Russian sovereign debt.
