Economy

Comment on this story Remark When Russian President Vladimir Putin launched a new council to coordinate supplies to the Russian military last month, he seemed to recognize the magnitude of the economic problems facing the country, and his sense of urgency was palpable. “We need to speed up decisions on issues related to supplying the … Read more

mall people in the UK can’t live without their smartphones and use them to manage all aspects of their lives, from banking to shopping and socializing. But what if the opposite is true, and this smart technology creates invisible barriers that prevent you from doing basic things, such as paying online, contacting your doctor or … Read more

The outlook for Canadian real estate, and the economy in general, looks a little less rosy. Oxford Economics warned clients this week that we are already seeing the early stages of a recession. Higher rates to cool inflation push home prices much lower and prolong the recession. High inflation also means that a stimulus windfall … Read more

By Ewa Krukowska (Bloomberg) European Union diplomats suspended talks on hedging Russian oil prices as Poland and the Baltic states objected to a proposal they deem too generous for Moscow. Diplomats had expected a deal to be struck Friday evening, but positions remained entrenched and talks were postponed until Monday, according to people familiar with … Read more

The European Union kicked off during tense ministerial talks on Thursday, dominated by the divisive issue of imposing a price cap on natural gas to protect citizens and businesses from skyrocketing energy bills. EU energy ministers meeting in Brussels widely endorsed a proposal for a cap from the European Commission, with several denouncing it as … Read more

The gas and electricity watchdog has announced a series of new rules for energy companies, including requiring companies to hold more capital, similar to those imposed on banks in the aftermath of the financial crisis. Ofgem proposed the regulations to protect customers and make businesses more resilient after a number of electricity suppliers went bankrupt … Read more

After the collapse of crypto exchange FTX, which was headquartered in the island state of the Bahamas, Bahamians are reportedly still trying to find a way to make sense of it all while remaining optimistic about the future. According to a report from the Wall Street Journal, the island nation — which had been encouraging … Read more