Russia-Ukraine war to wipe $1.5 trillion off global economy May 11, 2022 Russia’s invasion of Ukraine will wipe $1.5 trillion off the global economy this year, reveals new analysis released today. Soaring energy and food prices triggered by concerns about supply security as Moscow continues its assault on Ukraine will deliver a heavy blow to global economic activity, according to the National Institute of Economic and Social [...]
US Federal Reserve achieving soft landing will be challenging but doable May 10, 2022 Hiking interest rates to tame a 40-year high inflation spike without throwing the US economy off course will be difficult, but doable, a top stateside rate setter said today. “The ongoing pandemic and war in Ukraine bring a tremendous amount of complexity and uncertainty” to the trajectory of prices, John Williams, president of the New [...]
Viktor Oil Ban: Hungary digs in heels as EU pushes for sanctions May 10, 2022 French President Emmanuel Macron has held talks with Viktor Orban as the EU looks to finalise its ban on Russian oil imports.
British Gas profits and Heathrow’s growth keeps FTSE 100 stable May 10, 2022 A strong April for Heathrow and British Gas’s owner Centrica expecting higher profits has helped the FTSE 100 remain steady, up 0.8 per cent at the open this morning. London rose 63 points despite fears about rising inflation, as the UK’s biggest airport lifted its forecast for passenger growth after a spike in travel over [...]
China raises alarm over military capabilities of Elon Musk’s Starlink May 10, 2022 The official newspaper for China's military has taken aim at Elon Musk's Starlink satellites over concerns about their military capabilities.
Inside the Kremlin: Putin living in an alternate reality with Russia in Ukraine ‘for the long haul’ May 10, 2022 Russia’s President Vladimir Putin has created an alternative reality to convince the population that the country is under siege from its enemies, according to a leading security expert. Keir Giles, a senior consulting fellow at Chatham House, the international affairs think tank, said Putin’s speech at the Victory Day parade in Moscow was “the same [...]
Renishaw revenue jumps by a fifth despite Russia pullout May 10, 2022 British engineering firm Renishaw reported revenue of £492m in the first nine months of the year, up by a fifth compared to last year.
EU can’t always get what you want: Hungary stalls progress towards Russian oil ban May 10, 2022 Hungary has continued to withhold its backing from a long-proposed European Union ban on imports of Russian oil supplies.
London won’t throw out fraud until we put transparency at the core of finance May 10, 2022 Today the Queen’s annual speech will be delivered to parliament. Amid all the pomp and ceremony that surrounds this event, one very important piece of legislation to be expected is a second Economic Crime Bill. The first bill had to be fast-tracked through parliament as part of the government’s immediate response to Russia’s invasion of [...]
EU mulls plans to ban insurers from insuring ships carrying Russian oil May 9, 2022 The European Union is considering banning insurers from insuring ships carrying Russian oil, as another means of draining Russia of the financial resources it needs to continue bankrolling its war in Ukraine. If brought into force, the new sanctions would come as another blow to Russia’s energy export industry, as the EU also weighs up [...]