Business
World Bank issues Ukraine bankruptcy warning
Ukraine could be broke as early as next year unless Western countries agree to write off its debts, the organization has warned
Russians cooling on Dubai – Bloomberg
Russians are slashing investments in Dubai due to a rise in local prices and tighter US sanctions compliance policy, Bloomberg says
America’s top 1% get $2 trillion richer
The combined wealth of the top 1% of Americans has hit a record high, reaching $44.6 trillion, the Federal Reserve has said
China’s electric tech advances ‘unfair competition’ – US Treasury
US Treasury Secretary Janet Yellen has accused China of producing too many electric cars, batteries and solar panels
Sam Bankman-Fried sentenced to 25 years in prison
The disgraced FTX founder “orchestrated one of the largest financial frauds in history,” government prosecutors argued
Russia exits cost Western firms over $100 billion – Reuters
Western companies that left Russia amid Ukraine-related sanctions have suffered $107 billion in losses, Reuters reported
Blackrock boss predicts global ‘retirement crisis’
People will need to retire later because they are living longer and will not have enough savings, Larry Fink has warned
Grim ‘diagnosis’ for German economy
A group of economic institutes have slashed Germany’s growth forecast to 0.1% this year, warning that a rapid recovery is unlikely
US supply chains disrupted by Baltimore bridge collapse
The collapse of the US bridge will have a dramatic impact on the economy across the region, affecting global supply chains
Ukrainian NGO calls for Milka chocolate boycott in Germany
The Ukrainian pressure group Vitsche is demanding that German retailers ban Mondelez brands from their shelves
Russian diamond sanctions creating ‘mayhem’ in EU – The Times
An EU ban on imports of Russian diamonds has reportedly led to supply disruptions, sending European gem markets into ‘mayhem’
Huge black market for Musk’s Starlink – Bloomberg
Elon Musk’s Starlink satellite communication terminals are available for purchase on the black market worldwide, Bloomberg says
Trump platform dominates on stock market debut
Shares of Trump Media & Technology Group went up 50% in their first minute of trading on the NASDAQ exchange
Russia defying UN sanctions on North Korea – FT
Moscow has reportedly been supplying oil directly to Pyongyang in excess of the permitted quota
Cocoa prices hit historic high
Cocoa prices have risen above the $10,000-per-metric-ton mark on Tuesday for the first time ever
EU state doesn’t need Ukraine to get Russian gas – FM
Hungarian FM Peter Szijjarto says Budapest is considering boosting purchases of Russian natural gas through the TurkStream pipeline