What a new world order might mean for the global economy July 18, 2022 Russia’s invasion of Ukraine has opened fault lines between nations which will affect trade relations and investment for years to come. The war in Ukraine is already having a significant effect on inflation and activity in the world economy as commodity prices have soared and supply chains have been disrupted. Inflation in the G7 was [...]
H&M to wind down business in Russia after reopening stores to get rid of clothes July 18, 2022 The world’s second-largest fashion retailer H&M has said it will start winding down business in Russia, citing “the unpredictability of the future.” The Swedish clothing chain also blamed “current operational problems,” after it suspended sales in the country on 2 March. It is the latest firm to confirm a more permanent withdrawal of business in [...]
Boeing trims airline market forecasts July 17, 2022 US AIRPLANE maker Boeing has trimmed its projected industrywide demand for airplanes over the next 20 years, but said it expects deliveries to be stable excluding the Russian market. Boeing projects airlines worldwide will need 41,170 new airplanes over 20 years with half of the deliveries for replacement aircraft, and with single-aisle aircraft accounting for [...]
Jubilant Kremlin held ‘big party’ when Boris Johnson resigned as Putin expects to break West’s resolve this winter July 16, 2022 RUSSIAN government officials held a party in the Kremlin in Moscow to celebrate the resignation of Boris Johnson, it has been claimed. “What I can tell you is that there was a big party in the Kremlin, when Boris Johnson resigned,” Ukrainian MP Oleksiy Goncharenko said. “It was in all Russian propaganda, it was said [...]
Gazprom demands return of key turbine amid Nord Stream 1 closure July 16, 2022 The prospect of further disruption to Nord Stream 1 escalated today, with Gazprom putting pressure on Siemens to deliver a turbine.
Europe biggest market for US crude oil for first time in six years as Russia-Ukraine war rages on July 15, 2022 For the first time in six years, Europe was the top market for US crude oil as the Russia-Ukraine war continues to impact global markets. Europe overtook Asia, the previous top market, and received 213.1m barrels of crude while Asia received 191.1m barrels of American crude in the first five months of 2022, US Census [...]
Shell boss warns Europe could face energy rationing as ‘tough winter’ approaches July 14, 2022 Germany could have no choice but to ration its energy supplies if Russia turns off the taps, warned asset manager UBS.
British Athletics on mission to buck trend of mediocre Championships July 14, 2022 Just once has the Great Britain and Northern Ireland athletics team left a World Championships with medals tallying into double figures – at Stuttgart in 1993 – and there’s little hope of a repeat at this year’s edition, which gets underway in Eugene, Oregon, tomorrow evening. Of course there is medal hope – notably in [...]
Brussels slashes EU growth forecasts as euro faces ‘end of the beginning’ of US dollar slide July 14, 2022 The worst inflation surge in a generation driven by Russia’s invasion of Ukraine will choke European economic growth, revealed fresh forecasts published today. Predictions for output growth this year among the 27 members of the European Union (EU) remained unchanged at 2.7 per cent, but the European Commission (EC) downgraded expansion in 2023 by nearly [...]
21 killed and 100 wounded in central Ukraine: Russian Army accused of ‘open act of terrorism’ July 14, 2022 Around 21 people were killed and more than 100 wounded after Russian missiles struck a city in central Ukraine. The country’s president called the attack “an open act of terrorism” against civilians in locations without military value. Ukraine’s national police said three missiles hit an office building and damaged nearby residential buildings in Vinnytsia, which [...]