OPEC tells EU it’s not possible to replace potential Russian oil supply loss
OPEC told the European Union on Monday that current and future sanctions on Russia could create one of the worst ever oil supply shocks and it would be impossible to replace those volumes, and signalled it would not pump more.
How Meta fumbled propaganda moderation during Russia’s invasion of Ukraine
Days after the March 9 bombing of a maternity and children’s hospital in the Ukrainian city of Mariupol, comments claiming the attack never happened began flooding the queues of workers moderating Facebook and Instagram content on behalf of the apps’ owner, Meta Platforms
Cryptoverse: 10 billion reasons bitcoin could become a reserve currency
A crypto platform’s pledge to amass $10 billion worth of bitcoin to back its own “stablecoin” is firing up the market. It’s part of a wider movement to crown bitcoin as the reserve currency of a new age.
Euro slips vs dollar ahead of expected red-hot U.S. inflation
The euro fell on Tuesday unable to hold on to the post-French election gains, as the dollar held firm supported by high U.S. yields ahead of inflation data expected to reinforce bets of aggressive monetary tightening.
Sri Lanka unilaterally suspends external debt payments, says needs money for essentials
Sri Lanka’s central bank said on Tuesday it had become “challenging and impossible” to repay external debt, as it tries to use its dwindling foreign exchange reserves to import essentials like fuel.
U.S. yields near 3-year high, euro stronger after French election
U.S. Treasury yields rose to multi-year highs on Monday, while the euro strengthened and the spread between French and German bond yields narrowed after French President Emmanuel Macron won a larger than expected vote share in Sunday’s election
Oil slides on release of strategic reserves and China lockdowns
Oil prices dropped by more than $2 a barrel on Monday after a second straight weekly decline on plans to release record volumes of crude and oil products from strategic stocks and on continuing coronavirus lockdowns in China.
SocGen quits Russia with sale of Rosbank to oligarch Potanin
French bank Societe Generale said on Monday it would quit Russia with a deal to sell its stake in Rosbank to Interros Capital, a firm linked to Russian oligarch Vladimir Potanin, the head of mining giant Norilsk Nickel
Rouble falls sharply as Russia relaxes some capital controls
The Russian rouble weakened sharply in jittery trade on Monday, reversing some of the previous week’s gains, after the central bank decided to relax temporary capital control measures aimed at limiting a drop in the currency.
Dollar index touches 100 for first time in nearly two years
The U.S. dollar index strengthened to 100 for the first time in nearly two years on Friday, supported by the prospect of a more aggressive pace of Federal Reserve interest rate hikes.
