Economy Mar 15 Credit Suisse shares plunge, drag down European lenders Shares in the globally connected Swiss bank Credit Suisse plunged and dragged down other major European lenders.
Economy Feb 15 Global economy shows resilience, pain 1 year since the start of Ukraine war One year after Russia invaded Ukraine, the global economy is still enduring the consequences — crunched supplies of grain, fertilizer and energy along with more inflation and economic uncertainty in a world already contending with too much of both.
World Feb 10 Russia cuts oil output in response to Western price caps Russia has announced it will cut oil production by 500,000 barrels per day next month after Western countries capped the price of its crude over its action in Ukraine.
World Feb 05 European Union begins ban on Russian diesel over war in Ukraine Starting Sunday, the 27-country EU is taking the step to further slash its energy dependency on Moscow. The measure also aims to crimp the Kremlin’s fossil fuel earnings as punishment for invading Ukraine.
World Jan 31 Europe shows slight economic growth in final quarter of 2022 Europe’s economy scraped out meager gains at the end of last year as galloping inflation fed by high energy prices and Russia’s invasion of Ukraine deterred people from spending in shops and restaurants.
Economy Dec 16 Gas prices have dropped but still strain some drivers Drivers now hope the situation doesn’t get worse after a series of cutbacks tied to Russia’s war in Ukraine, accidents and the slowing global economy have strained the world’s oil supply.
World Dec 05 European Union implements Russian oil price cap to limit Kremlin war chest The impact may be blunted because Russia has been able reroute much of its European seaborne shipments to China, India and Turkey, although at steep discounts. Plus, the price cap is near what Russian oil already cost.
World Nov 29 IMF director urges targeted COVID approach in China to ease global economic impact IMF Managing Director Kristalina Georgieva urged a “recalibration” of China's tough “zero-COVID" approach aimed at isolating every case “exactly because of the impact it has on both people and on the economy…
World Nov 16 European Central Bank says a recession ‘has become more likely’ It's looking more like a recession is coming in Europe. That's the takeaway from a financial stability report that the European Central Bank released Wednesday.
World Nov 11 EU forecasts recession this year amid persistent inflation The European Union's executive commission slashed its forecast for economic growth next year. It says spreading the message that the countries that use the euro currency will slide into recession over the winter will erode consumer purchasing power.