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Economy
‘Everything is gone’: Russian business hit hard by tech sanctions
Russian companies have been plunged into a technological crisis by western sanctions that have created severe bottlenecks in the supply of semiconductors, electrical equipment and the hardware needed to power the nation’s data…
Europe’s Russian Oil Ban Could Mean a New World Order for Energy
HOUSTON — The European Union’s embargo on most Russian oil imports could deliver a fresh jolt to the world economy, propelling a realignment of global energy trading that leaves Russia economically weaker, gives China and India…
US gas prices jump to record high $4.67 a gallon
The national average for regular gasoline climbed by five cents on Wednesday to a fresh record of $4.67 a gallon, according to AAA. That leaves gas prices up by 48 cents in the past month alone.It now costs 32% more to fill up your tank…
Treasury secretary concedes she was wrong on ‘path that inflation would take’
"I think I was wrong then about the path that inflation would take," Yellen told CNN's Wolf Blitzer on "The Situation Room" when asked about her comments from 2021 that inflation posed only a "small risk."The admission was the latest…
Russian space chief says the country should seriously consider printing more money to
Dmitry Rogozin said Russia could print more money to offset the impact of Western sanctions.
The Russian space chief said inflation could be avoided by…
Biden to meet Fed chair as inflation bites pocketbooks
WASHINGTON (AP) — President Joe Biden is set to meet with Federal Reserve Chairman Jerome Powell as soaring inflation takes a bite out of Americans’ pocketbooks.The meeting Tuesday will be the first since Biden renominated Powell to lead…
Live news updates: China’s manufacturing sector contracts at a slower pace
South Korea’s industrial output, consumption and investment all fell in April as higher raw material prices and supply chain disruptions weighed on Asia’s fourth-largest economy, data showed on Tuesday. It was the first time in two years…
India’s imports of cheap Russian crude surge since Ukraine invasion – Times of India
NEW DELHI: India has received 34 million barrels of discounted Russian oil since Moscow invaded Ukraine on February 24, according to Refinitiv Eikon data, more than trebling the value of total imports from Russia, including other…
Pasta, bread and beef mince top list of fastest-rising UK budget grocery prices –
Here are some of the key data on inflation in budget ranges. The pasta surge is by far the most notable, but others include crisps (17%), bread (16%), minced beef (16%) and rice (15%).Yet at the same time for six of the 30 items, the…
Item Aussies should ditch first as prices spike
Financial experts have offered surprising tips on what Aussies should be doing to combat cost of living pressures.Cost of living pressures are continuing to mount for many Australian families, but experts have revealed how you can start…