Economy Archives - Page 45 of 58

China Sees ‘Unprecedented’ Cash Outflows after Russia’s Invasion of Ukraine, IIF Reveals

Communist China is seeing "unprecedented" cash outflows since Russia launched its invasion of Ukraine, the Institute of International Finance (IIF) has revealed. High-frequency data detected a decreased confidence of investors amid geopolitical conflict and uncertainty. A “very unusual” shift emerged to global capital flows in emerging markets in late February. China…

Russia to Accept Bitcoin Payments for Oil and Gas Exports

A top Russian government official has just announced that Russia is to begin accepting payments in Bitcoin for its oil and gas exports. Pavel Zavalny, Chairman of the Committee of the State Duma of the Russian Federation on Energy, said that Russia will take Bitcoin while discussing how Russia might…

Reuters Cuts Ties with State-Backed Russian News Agency TASS

International news agency Reuters has cut ties with Russian government-backed news outlet TASS, according to reports. Reuters announced the move in a Wednesday statement. Reuters began listing TASS on its content marketplace in 2020. However, that partnership has been revoked. “We have decided to remove all TASS content from the…

Pfizer Recalls Blood Pressure Drugs for ‘Above Acceptable’ Levels of Cancer-Causing Impurity

Pharmaceutical giant Pfizer has announced that it has recalled batches of its blood pressure drug products due to high levels of cancer-causing impurity. In a statement Monday, Pfizer said that it is voluntarily recalling the products along with two authorized cheaper generic versions of the drug due to elevated levels…

OneWeb Launching Satellites with Elon Musk’s SpaceX after Cutting Ties with Russian Agency

British satellite communications company OneWeb has announced it will resume satellite launches with Elon Musk’s SpaceX after cutting ties with a Russian agency. OneWeb said on Monday that it suspended launches from Russia’s Baikonur Cosmodrome in Kazakhstan. OneWeb did not disclose the terms of the new launch agreement. Earlier in…

Russia Fires 9000mph Hypersonic Missiles at Ukraine for First Time

Russia admitted on Saturday that it has fired hypersonic missiles into Ukraine to destroy Ukrainian military assets. The move marks the first time Moscow has acknowledged using this type of weapon in combat. Russia boasts that the "Kinzhal"- or Dagger - missile is "unstoppable" by current Western defensive weapons. The…

Top Fed Official Calls for Interest Rates Raised above 3% Before End of 2022

Federal Reserve Bank of St. Louis President James Bullard is calling for the Fed to raise interest rates above three percent before the end of 2022. The top Fed official made the call while arguing that the central bank is not doing enough to fight 40-year high inflation. Bullard, who…

Biden to Call Chinese Communist Party Leader, Discuss Ukraine & Economic Competition

Democrat President Joe Biden is scheduled to hold a call with Chinese Communist Party leader Xi Jinping on Friday. Biden plans to discuss a range of urgent issues, including China’s position on Russia’s invasion of Ukraine. The two leaders will also discuss the economic competition between Washington and Beijing. White…

Russians in Turkey Rush to Open Bank Accounts to Protect Savings against Sanctions

Russian nationals living in Turkey are racing to open new bank accounts over fears they will lose their savings due to Western sanctions against Russia amid the invasion of Ukraine. There has been a significant increase in demand from Russian citizens seeking to open bank accounts in Turkey in recent…

Mariupol Evacuation Underway after Multiple Failed Ceasefires, Officials Reveal

An evacuation of the city of Mariupol, Ukraine, is currently underway after multiple failed prior ceasefires amid the Russian invasion. Ukrainian authorities have been trying to secure a ceasefire that would allow for the safe operation of a humanitarian corridor, according to an adviser to Mariupol’s mayor. Petro Andrushenko, an…