Watch LIVE: Russian President Vladimir Putin address his nervous nation with no victory in Ukraine in sight May 9, 2022 Russian President Vladimir Putin has addressed his nation in Moscow as millions of Russians are desperate to hear what the leader’s next move will be in Ukraine. While the president speaks, Russian forces have pushed forward in their assault on Ukraine, seeking to capture the crucial southern port city of Mariupol as Moscow prepared to [...]
Seize Russian assets to pay for Ukraine damage, says EU official May 9, 2022 A senior EU official has proposed seizing frozen Russian reserves to cover the costs of rebuilding war torn Ukraine.
Markets bracing for tough week: China trade slows as zero-Covid policy has disastrous impact on economy May 9, 2022 With China continuing to pursue its zero-Covid policy the restrictions in Shanghai are having a chilling effect on economic output there, as well as port activity, or rather the lack of it, as container ships continue to sit off the Chinese coast waiting to be unloaded. This morning’s China trade data for April only serves to reinforce [...]
Coy consumer ‘raises the risk’ of UK recession May 9, 2022 The risk of the UK being thrown into a recession is building, according to closely watched forecasts published today that chime with the Bank of England’s recent contraction warning. Households leaving their £180bn pandemic savings war chests largely untouched in the face of greater uncertainty “raises the risk of recession,” according to new forecasts by [...]
London economy squeezed by inflation grip in sign of looming UK-wide slowdown May 9, 2022 London’s economy is being choked by intensifying inflationary pressures in a sign that the rest of the UK is headed for a period of weaker growth, reveals a fresh survey released today. Concerns about a reduction in consumer spending in response to the worst cost of living crunch in 30 years has pushed London business [...]
US bans accountants and consultants from working with Russia May 8, 2022 The US government has told American citizens they are now banned from providing professional services to anyone in Russia, as part of new sanctions in response to the war in Ukraine. The White House said today that all US persons are now banned from providing accounting, trust and corporate formation, and management consulting services to [...]
G7 leaders commit to phasing out Russian oil May 8, 2022 Leaders of the world’s richest economies today committed to banning imports of Russian oil in a further ratcheting up of sanctions against Vladimir Putin. G7 chiefs have committed “to phase out our dependency on Russian energy, including by phasing out or banning the import of Russian oil,” the White House said in a statement yesterday. [...]
Chelsea agrees terms of £4.5bn takeover bid led by Todd Boehly May 7, 2022 Chelsea has agreed to the terms of a £4.25bn takeover bid from a consortium of investors led by US billionaire Todd Boehly.
Tech Weekly: Matt Hancock on crypto ambitions and lockdown decisions May 6, 2022 This week City A.M. reporters Lily Russell-Jones and Charlie Conchie sit down with Conservative MP and former Health Secretary Matt Hancock. They chat about his outspoken views on crypto, regulation, and the need for accessibiity when it comes to crypto investing; go through his post-Cabinet ambitions; and unpick his decision-making at the height of the [...]
Business of Space: The things you can do with a commercial hand May 6, 2022 City A.M.’s Millie Turner offers up a roundup of the most important news across the space industry, every Friday. This week: SpaceX deepens commercial ties with NASA Artemis: NASA latest stage in returning to the moon Space regulations race to catch up with technology SpaceX and satellite spin-off Starlink SpaceX brought four astronauts back down to Earth last night, as [...]