Newsletter
Gasoline prices in the US reach $5 per gallon
The average price of gasoline in the US topped the $5 a gallon mark on Saturday for the first time in history, fueling decades of inflation that has become politically very costly for the Biden administration.
US wants to maintain military capabilities to defend Taiwan
US Secretary of Defense Lloyd Austin accused China of stepping up its coercive measures against Taiwan, stressing that Washington will maintain its military capabilities to resist any force that threatens the country. Speaking at the IISS Shangri-La Dialogue …
ECB plans rate hike in July as inflation problem deepens
The European Central Bank (ECB) has unveiled its plans for the first rate hike in more than a decade. It joins plans by many other ECB countries to raise borrowing costs to combat persistent inflation, which is spreading well beyond the US. The ECB's change of …
EU: Green climate agenda only partially adopted
The EU's ambitions to aggressively cut carbon emissions have suffered a setback after the European Parliament voted against key pieces of climate legislation on Tuesday - after MEPs squabbled over how tough the proposals should be.
Treasury Department bans US investors from buying Russian bonds
The US Treasury has decided to ban US investors from buying Russian debt in the secondary markets. This represents an apparent extension of the previous policy, which only banned the purchase of newly issued Russian government bonds and some Russian corporate …
Because of fake accounts: Twitter deal with Musk is shaking
The lawyers for Elon Musk, the richest man in the world, took to Twitter on Monday in a snappy six-paragraph letter to express their displeasure. Twitter "actively defended and thwarted Mr. Musk's rights" while he was completing a $44 billion deal to buy the …
ECB wants to concretise plans to ward off stress in the bond market
The European Central Bank (ECB) is set to step up its commitment to supporting bond markets in vulnerable euro-zone countries this week should they be hit by a sell-off as policymakers prepare to raise interest rates for the first time in more than a decade. …
Under pressure from the USA, Opec agrees to increase oil production
Opec and its allies on Thursday agreed to increase oil production in July and August after Saudi Arabia, the cartel's fulcrum, caved in to US pressure to stem the rise in crude prices threatens to bring the global economy to a standstill.
Saudi Arabia ready to deliver more oil
Saudi Arabia has indicated to its western allies that it is ready to increase oil production should Russian production fall significantly under the weight of sanctions, according to five people familiar with the talks. The kingdom has resisted White House …
US to deliver longer-range missile systems to Ukraine
The Biden administration on Tuesday said it will provide long-range missiles to Ukraine while the US unveils a $40 billion aid package for the country that is scheduled to run through September.