Davos, once a rollcall of decision makers, has sagged under the weight of its ambition May 31, 2022 HAS Davos lost its mojo? While it was great to be able to stroll around taking in the Swiss air last week without struggling through crowds of Nobel Prize winners, CEOs and billionaires in snow gear, it also felt like a turning point. What sets the World Economic Forum annual meeting apart from other events, [...]
Oil prices rise above $120 milestone as China finally lifts oppressive lockdown measures May 30, 2022 Oil prices breached the $120 milestone today - hitting a two-month high as China eased Covid-19 restrictions in its biggest city.
Supply security: Government holds talks with Centrica over gas storage while EU delays oil ban May 30, 2022 The government is holding talks with Centrica about re-opening a gas facility, in case European supplies from Russia are cut off.
Marine and aviation insurance premiums more double as policyholders feel hit from Ukraine war May 30, 2022 The cost of insuring certain marine and aviation businesses has more than doubled due to rising costs and the risks associated with the war in Ukraine. Global insurance premiums increased 11 per cent in the first quarter 2022, as conflict in Ukraine pushed up insurance costs worldwide, Reuters said. However, insurance costs have soared particularly [...]
NIESR top economist: Bank of England has tools to fight inflation May 30, 2022 The UK economy is in a bit of a bind. Households are being squeezed by historic rises in their living costs, while businesses’ margins are thinning due to expenses soaring. A much higher than expected inflation crunch – primarily the result of Russia’s unforeseen invasion of Ukraine – is forecast to trigger a spending pull [...]
EU prepared to water down oil ban to secure agreement ahead of summit May 29, 2022 The EU is edging towards a watered down package of sanctions on Russia after weeks of talks with holdout country Hungary.
Ukraine puts pressure on Germany to limit Russian gas through Nord Stream 1 pipeline May 29, 2022 Germany is under pressure to reduce its consumption from the Nord Stream 1 pipeline, as Ukraine looks to fund its war efforts through transit fees.
Iran seizes Greek oil tankers in escalation of Tehran’s spat with Western powers May 28, 2022 Iran’s Revolutionary Guards have seized two Greek oil tankers, after the Iranian government said it would take “punitive action” against Greece over its seizure of an Iranian oil cargo last month. Iran’s Islamic Revolutionary Guard Corp (IRGC) said it had seized two Greek tankers sailing in international waters off the coast of Iran. The seizures [...]
Russian Army is ‘chewing through ground’ in Donbas as Kremlin makes ‘palpable progress’ in Ukraine this week May 28, 2022 Vladimir Putin’s Russian Army is making “palpable progress” in the Donbas region after abandoning the attempt to encircle Kyiv, Boris Johnson said this morning. Johnson argued, in an interview with Bloomberg, that more offensive weapons including long-range multiple-launch rocket systems (MLRSs) are needed. He stressed the “vital” need to provide Ukraine with fresh military support [...]
Anchors away: Princess Yachts on the lookout for new owners May 27, 2022 City sources have suggested that Princess Yachts is up for sale as more and more Russian-owned luxury boats are seized by the government.