Global Recession Risk Increases as Economic Outlook ‘Gets Significantly Darker’, Says IMF | Global economy

The outlook for the global economy has been “significantly obscured” in recent months, the IMF head warned, and the world faces an increasing risk of a recession over the next 12 months. The shock to commodity prices from the war in Ukraine had exacerbated the cost of living for hundreds of millions of people, Kristalina … Read more

Lithuania allows sanctioned Russian trade in goods to Kaliningrad

A view shows trucks, following Lithuania’s ban on the transit of goods under EU sanctions through the Russian Baltic Sea exclave of Kaliningrad, in Kaliningrad, Russia June 21, 2022. REUTERS/Vitaly Nevar/File Photo Register now for FREE unlimited access to Reuters.com Register VILNIUS, July 13 (Reuters) – European Union member Lithuania will allow sanctioned Russian goods … Read more

Oil prices rise ahead of potential major rate hike in the US

Pump jacks pump oil at an oil field on the shores of the Caspian Sea in Baku, Azerbaijan, Oct. 5, 2017. REUTERS/Grigory Dukor Register now for FREE unlimited access to Reuters.com Register SINGAPORE, July 14 (Reuters) – Oil prices rose Thursday, with Brent trading above $100 a barrel as investors weighed tight inventories against the … Read more

India’s economy can’t compete with China’s — and that should worry US policymakers

The Biden administration must be alarmed by the recent decisions by several foreign companies to either withdraw from the Indian market or put their long-term plans on hold. The US has for years hoped to aid India’s rise as a way to curb China’s growing power. But while India is the world’s fastest-growing major economy, … Read more

Copper prices indicate investors are negative about the economy: ANZ

A smelter in Wuzhou, China, in January 2022. Falling copper prices suggest investors are negative about the outlook for the economy, said a commodities strategist at ANZ Bank. He Huawen | Visual China Group | Getty Images Falling copper prices suggest investors are negative about the outlook for the economy, said a commodities strategist at … Read more

Fuel prices should have fallen by an extra 4 cents in the past month

The Competition and Markets Authority (CMA) last week said it would investigate the “growing gap” between the oil price and the wholesale price and gasoline and diesel, which it said was “a cause for concern”. The competition watchdog carried out an urgent market review on behalf of Kwasi Kwarteng, the company secretary, after concerns that … Read more

Bill Gates funnels $20 billion into foundation and plans to lose weight

The foundation, one of the world’s largest charities, plans to increase its payouts by 50% by 2026 from pre-pandemic levels, from nearly $6 billion to $9 billion a year. The foundation focuses primarily on charitable giving aimed at improving global health, gender equality, and education, among others. The Microsoft co-founder and his ex-wife, Melinda French … Read more

Controversial cryptocurrency lender Celsius files for bankruptcy protection

Celsius was sued on Thursday by former investment manager Jason Stone as pressure on the company continues to mount amid a crash in cryptocurrency prices. Among other things, Stone has claimed that Celsius CEO Alex Mashinsky (above) “has been able to significantly enrich himself”. Piaras Midheach | Sports file for Web Summit | Getty Images … Read more

China considers proposed price cap for Russian oil

The United States presented China the idea of ​​limiting the price of Russian oil at a virtual meeting last week, US Treasury Secretary Janet Yellen told The Wall Street Journal in an interview published Wednesday. Minister Yellen is touring Asia this week with stops in Japan, South Korea and Indonesia to seek support for the … Read more