After oil and gas prices skyrocketed, BP’s profits for the first three months of this year more than doubled. The energy behemoth posted an underlying profit of $6.2 billion, up from $2.6 billion in the previous quarter and well ahead… Read More ›
Month: May 2022
EU bans 3 Russian state-owned broadcasters as part of 6th sanction package
On Wednesday, in a significant development, European Commission President Ursula von der Leyen told EU lawmakers in Strasbourg, the EU will ban three Russian state-owned broadcasters as part of its sixth sanctions package. “They will not be allowed to distribute… Read More ›
ECB may raise interest rates in July to check extreme high inflation: board member
In an interview to German newspaper Handelsblatt, Isabel Schnabel, a board member on the European Central Bank said, the ECB may have to raise interest rates as early as July to stop “extremely high” inflation from getting entrenched. In March,… Read More ›
Risk of default by big US banks high: Wall Street
In a significant development, fears over the Federal Reserve’s aggressive moves to tame inflation might tip the economy into recession have pushed up costs to insure bonds of Goldman Sachs, Morgan Stanley and Citigroup, which have hit a two-year high. Following… Read More ›
US companies may have to disclose impact of Ukrainian war: SEC
In a statement the US Securities and Exchange Commission said its Division of Corporation Finance has told companies to disclose the impact of Russia’s invasion of Ukraine on their business, including nationalization of assets. In a guidance posted on its website, the… Read More ›
Twitter may charge nominal fee for commercial and government users: Elon Musk
In a significant development Elon Musk said, Twitter Inc will always be free for casual users but may charge a nominal fee for commercial and government users. “Twitter will always be free for casual users, but maybe a slight cost for… Read More ›
EU Is Split On How To Transition Away From Russian Energy
The European Union countries are divided on how quickly they should reduce their reliance on Russian energy supply. Despite the imposition of sanctions in other areas of commerce, the EU continues to rely substantially on Russian oil and gas. Germany’s… Read More ›
Australia Hikes Interest Rates For First Time In More Than A Decade
For the first time in more than a decade, Australia’s central bank has hiked interest rates. As Australia prepares for an election that will be primarily focused on the rising cost of living, the increase will put additional strain on… Read More ›
German prosecutors raid Morgan Stanley’s German branch
As per a spokesperson for Morgan Stanley’s German branch, German prosecutors in Frankfurt searched its office in relation to a “past activity” on Tuesday. Earlier on Tuesday German prosecutors said, they were searching a bank in Frankfurt as well as… Read More ›
Ukraine facing significant shortage in agricultural produce storing capacity
According to analysts at APK-Inform, Ukraine is likely to face a significant shortage of storing facilities in the 2022-2023 season following a sharp fall in exports as a fallout of the Russian invasion. Since late February, Ukraine has been forced… Read More ›
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