Oil gains 3% on global economic optimism, despite surprise U.S. crude build

Reuters | January 11, 2023

By Scott DiSavino NEW YORK (Reuters) -Oil prices rose 3% to a one-week high on Wednesday as hopes for an improved global economic outlook and concern over the impact of sanctions on Russian crude output outweighed a massive surprise build in U.S. crude stocks. Brent futures rose $2.57, or 3.2%, to settle at $82.67 a […]

U.S. dollar down, still set for best year since 2015

Reuters | December 30, 2022

By Hannah Lang WASHINGTON (Reuters) – The dollar was on track to post its best year since 2015 on Friday in the last trading day of a year dominated by Federal Reserve rate hikes and fears of a sharp slowdown in global growth. As 2022 draws to a close, the dollar was set to notch […]

Germany’s energy crisis powers hydrogen switch

Reuters | December 29, 2022

By Louisa Off and Riham Alkousaa KELHEIM, Germany (Reuters) – From the moment Russian gas exports to Germany were first disrupted in June, German firm Kelheim Fibers began casting around for alternative options to keep its engines running. As a result, the Bavarian-based firm, whose fibres are used in anything from teabags to tampons, will […]

Russian rouble slumps again as volatile year-end trade continues

Reuters | December 28, 2022

By Alexander Marrow MOSCOW (Reuters) -The Rouble weakened sharply on Wednesday, sliding to the 72 mark against the dollar, as sanctions on Russian oil and their probable impact on export revenues put pressure on the Russian currency. The Rouble lost about 8% against the dollar last week and is on course for a hefty monthly […]

FTX’s Bankman-Fried, charged with ‘epic’ fraud, released on $250 million bond

Reuters | December 23, 2022

By Luc Cohen and Jody Godoy NEW YORK (Reuters) – Sam Bankman-Fried was released on a $250 million bond package on Thursday while he awaits trial over the collapse of the FTX crypto exchange, which a U.S. prosecutor called a “fraud of epic proportions.” Federal prosecutors in Manhattan have accused the FTX founder of stealing […]

Russian mobile calls, internet seen deteriorating after Nokia, Ericsson leave

Reuters | December 21, 2022

By Supantha Mukherjee and Alexander Marrow STOCKHOLM/MOSCOW (Reuters) -When telecoms gear makers Nokia and Ericsson leave Russia at the end of the year, their departure could steadily cripple the country’s mobile networks over the long-term, setting off a deterioration in communication for everyday Russians. Five senior telecoms executives and other industry sources said Russian mobile […]

Putin says Russia will fight sanctions with shift in trade and energy flows

Reuters | December 15, 2022

(Reuters) -President Vladimir Putin said on Thursday that Russia would expand trade cooperation with new partners, including by sharply increasing gas exports to China, to combat Western sanctions. When spending on the war in Ukraine is squeezing funds for health and education, Putin promised Russians in a major televised speech on the economy that pensions […]

The year Russia turbocharged a global energy crisis

Reuters | December 15, 2022

By David Gaffen (Reuters) – For the energy industry, 2022 will be remembered as the year Russia’s invasion of Ukraine accelerated a global energy crisis. The invasion, and subsequent Western sanctions, heaped new pressures on oil and gas supplies already strained from the rapid economic rebound from the pandemic. The world’s top energy companies beat […]

FTX founder Bankman-Fried in custody after fraud charges, bail denied

Reuters | December 14, 2022

By Jared Higgs, Luc Cohen and Chris Prentice NASSAU, Bahamas/NEW YORK (Reuters) -A Bahamian judge denied FTX founder Sam Bankman-Fried bail on Tuesday, hours after U.S. prosecutors accused the 30-year-old of misappropriating billions of dollars and violating campaign laws in what has been described as one of America’s biggest financial frauds. The former CEO of […]

Britain eyes trade agreements with California, Utah

Reuters | December 10, 2022

By Andrea Shalal WASHINGTON (Reuters) – Britain this week inked an agreement aimed at boosting trade and investment with South Carolina, its third such deal with a U.S. state, and is seeking similar deals with California and Utah, the UK junior trade minister, Greg Hands, said on Friday. Britain remains convinced that a comprehensive free […]

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