On Monday, oil prices spiked after the revolt by Russian mercenaries. The revolt raised worries about the political instability in Russia and its potential impact on the oil supply from one of the world’s biggest producers. Both of the benchmarks, U.S. West Texas Intermediate crude futures and Brent, gained 0.4% on Monday, and in early…
The bank released a statement on Thursday saying that the employees will be held accountable for adhering to the norms of the hybrid work model at Citigroup. According to the report released by Bloomberg, the bank will monitor whether the employees are meeting the requirement of working for at least three days a week in…
Last Monday, European shares declined because of news of weak business activity in the U.S. that boosted economic slowdown worries, which overshadowed the gains in telecom stocks. As a result, investors took their profit from last week’s rebound. A survey was released that showed that the U.S. services sector barely grew in May. On the…
On Monday, European shares dipped as investors awaited further stimulus measures from China to boost demand. They also awaited and watched this week’s hearing from Federal Reserve Chair Jerome Powell for any indication on the U.S. central bank’s rate outlook. The STOXX 600 index for all of Europe decreased by 1.0%, while the DAX index…
The European Chamber of Commerce in China said that the decoupling and political tension with the United States are not the major problems; the Slowing down of both the Chinese and global economies is the biggest issue affecting European firms in China. The Chamber’s annual position paper, which was released on Wednesday, stated that European…
On Sunday, the newly appointed Finance Minister Mehmet Simsek of Turkey said that to ensure predictability in the economy, there is no choice for the country but to return to “rational ground”. Simsek was named to the cabinet of President Tayyip Erdogan on Saturday to tackle Turkey’s cost-of-living crisis. There were clear indications that the…
South Korea’s outlook for the central bank to cut interest rates to boost economic growth is clouded. The reason is that consumer inflation has cooled down for the fourth month. Which hit the lowest in 19 months in May, but core inflation is still elevated. Last Friday, the Statics Korea data was released. The consumer…
Last Wednesday, investors were more focused on an anticipated vote in Congress to raise the U.S. debt ceiling, which caused the U.S. Treasury yields and global equities to decline. The bipartisan deal that would lift the $31.4 trillion ceiling and help the government avoid default is scheduled for a vote on Wednesday in the U.S….
Hawkes, who play a game of cat and mouse with the authorities, are hitting the streets as the sluggish economic recovery is not helping them with their wages. It was reported by many hawkers, one of whom was Wang Chunxiang. She sells pastries in the busy area of Shanghai. She chose to push the cart…
According to a survey released on Tuesday, British shop price inflation hiked this month and reached the highest value since the record was started in 2005, although there was a slight cooldown in the growth of food prices. According to the British Retail Consortium, there was a hike in prices at retail chains and supermarkets….
