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 ›
Geopolitics
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 ›
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 ›
Putin orders retaliatory economic sanctions on unfriendly entities and countries
In a statement on Tuesday, the Kremlin said, Russian President Vladimir Putin has signed a decree on retaliatory economic sanctions in response to “unfriendly actions of certain foreign states and international organisations”. The kremlin did not shed light on which… Read More ›
Hungary and Slovakia will be exempt from Russian oil embargo: EC
According to two EU officials, the European Commission may exempt Hungary and Slovakia from an European embargo on Russian oil, given their dependence on Russian crude. The European Commission is expected to finalise a sixth package of EU sanctions against… Read More ›
Amazon’s Net Loss Raises The Question Of Whether It Has Created Too Many Warehouses
Amazon.com Inc has spent billions of dollars on new warehouses in recent years, slashing earnings while claiming to investors that it had no alternative but to fulfill ever-increasing consumer demand. According to observers, Amazon may have created too much, too… Read More ›
Food Prices Will Continue To Rise, Warns Asda Chairman Stuart Rose
The high cost of raw materials will result in food prices continuing to rise and remain higher “for quite some time,” according to Asda chairman Lord Rose. Many families trying to make ends meet will “suffer,” the Conservative peer said,… Read More ›
Saudi Arabia May Reduce June Crude Prices To Asia From Their All-Time Highs
Saudi Arabia, the world’s largest crude exporter, may drop prices for crude grades supplied to Asia in June after benchmarks fell from records the previous month as COVID lockdowns curtailed demand in China, the world’s largest petroleum importer, traders said… Read More ›
Supply Chain Issues And Uncertainty Over Tariffs To Slowdown U.S. Solar Industry
The solar sector in the United States is predicting a significant slowdown in project instals this year due to global supply chain issues and the potential of new U.S. tariffs on panel imports from Southeast Asia. Southern Co, a U.S…. Read More ›
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