Is the Russia-Ukraine conflict having an effect on the global economy?
The conflict between Russia and Ukraine has now become a worldwide economic issue. It is not only causing economic instability in Russia, but the ramifications are also threatening the world economy, causing financial markets to tremble and making life more dangerous for everyone from Uzbek migrant workers to European customers to hungry Yemeni families. Russia […]
As world scrambles for oil, Canadian producers reluctant to spend on growth
The world is scrambling for oil after Russia’s invasion of Ukraine sent prices rocketing and upended global supply but producers in Canada, home to the world’s third-largest reserves, have no plans to significantly boost output.
Explainer: Russian banks isolated, UK cuts insurance ties with Moscow
Britain will ban Russian companies from London’s multi-billion dollar aviation and space insurance market, the latest restrictions Western allies are imposing to isolate Russia from international financial markets.
Analysis: Crypto exchanges won’t bar Russians, raising fears of sanctions backdoor
LONDON, March 3 (Reuters) – Some of the world’s biggest cryptocurrency exchanges are staying put in Russia, breaking ranks with mainstream finance in a decision that experts say weakens Western attempts to isolate Moscow following the invasion of Ukraine. Western sanctions, which aim to squeeze Russia’s economy and sever it from the global financial system, […]
Arkansas teachers settle with Allianz over fund debacle
FRANKFURT, March 3 (Reuters) – A pension fund for teachers in Arkansas has settled with Allianz and dropped its lawsuit over losses in a multibillion-dollar trading debacle at the German insurer’s funds arm, according to a court document. The Arkansas Teacher Retirement System was the first lawsuit lodged against Allianz in 2020 after the downfall […]
Malaysian financier said he discussed 1MDB probe with Trump allies -testimony
A fugitive Malaysian financier said he won support from allies of former U.S. President Donald Trump for a possible settlement of a probe into the looting of funds from the 1MDB sovereign wealth fund, a former Goldman Sachs banker testified on Tuesday.
Bank of Italy says it is ending COVID-related relief measures for banks
The Bank of Italy said on Tuesday it would remove a number of relief measures on banking requirements that had been introduced to help lenders through the COVID-19 crisis.
Exclusive: U.S. utilities push White House not to sanction Russian uranium
The U.S. nuclear power industry is lobbying the White House to allow uranium imports from Russia to continue despite the escalating conflict in Ukraine, with cheap supplies of the fuel seen as key to keeping American electricity prices low, according to two sources familiar with the matter.
EXCLUSIVE Ford set to announce plans to run EV, ICE as separate businesses -sources
Ford Motor Co (F.N) on Wednesday will announce a reorganization under which its electric vehicle (EV) and internal-combustion engine (ICE) units will be run as separate businesses in a move to fast track growth in EVs, three people familiar with the plan said.
Morning Bid: A turning point for markets
When the yield on Germany’s benchmark Bund, considered one of thea safest assets in the world, posts its biggest one-day fall since 2011 (as it did on Tuesday), something has changed.
