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Biden to permanently ban new offshore oil and gas exploration in some US coastal waters
US President Joe Biden The move is certain to complicate...
US surgeon general urges cancer warnings for alcoholic drinks
U.S. Surgeon General Vivek Murthy said alcohol consumption...
Could the Ukraine invasion spark a global financial crisis?
The threat to banks with over US$100 billion of Russian debt in foreign banks, this raises questions about the risks to banks outside Russia – and the potential for a default to kick off a 2008-style liquidity crisis, where banks panic about the state of other banks'...
China’s trade war with US resulted in loss of USD 550 billion: Report
The trade war, accompanied by a slowdown in China's economy and the impact of the COVID-19 pandemic, has resulted in the World Bank predicting a significant slowdown in the global economy as well as a lower prediction for the economic growth in the United States and...
‘Cyberattack’ knocks thousands offline in Europe
“Due to a massive disruption of the satellite connection in Europe, remote monitoring and control of thousands of wind power converters is currently only possible to a limited extent,” mentioned the producer, Germany’s Enercon which mentioned the issues began on...
War in Ukraine, sanctions will have ‘severe impact’ on global economy: IMF
“Price shocks will have an impact worldwide, especially on poor households for whom food and fuel are a higher proportion of expenses,” the IMF said. “Should the conflict escalate, the economic damage would be all the more devastating. The sanctions on Russia will...
Russia-Ukraine turmoil triggers market stress alarms
"The market's liquidity conditions have weakened this week, and were exacerbated overnight after reports of shelling to Europe's largest nuclear plant in Ukraine," said ING currency strategist Francesco Pesole LONDON/NEW YORK: Financial indicators signalled increasing...
China targets slower GDP growth of around 5.5% amid economic headwinds
"A comprehensive analysis of evolving dynamics at home and abroad indicates that this year our country will encounter many more risks and challenges, and we must keep pushing to overcome them," said Premier Li Keqiang at the start of China's annual meeting of...
Fitbit recalls millions of ‘Ionic’ smartwatches after battery burn reports
The Consumer Product Safety Commission (CPSC) in the US said in a statement that at least 115 people in the US -- and 59 globally -- have reported an overheating battery on the device. There were 118 reports of burns, with two reports of third-degree burns and four...
Russia’s invasion of Ukraine leaves global trade in tatters
Since Russia's invasion of Ukraine, hundreds of tankers and bulk carriers have been diverted away from the Black Sea, while dozens more have been stranded at ports and at sea unable to unload their valuable cargoes Only a small handful of Russia's 2,000 cargo and...
Italy’s Generali to pull out of Russia as Intesa reviews business
Europe's No 3 insurer said its exposure to the Russian market in terms of investments and insurance business was under constant evaluation. The moves come as Western countries seek to distance themselves from Russian business after President Vladimir Putin ordered his...
Russia central bank increases capital of reinsurance firm specialising in sanctions risk
MOSCOW: Russia's central bank on Thursday said it was increasing the capital of affiliated reinsurance firm AO RNPK, which specialises in providing protection against international sanctions, to 300 billion roubles ($3.08 billion) from 71 billion roubles.