Business
Judge cancels Elon Musk’s $56 billion pay package
Tesla’s shareholders overpaid Elon Musk because they were “beholden” to the billionaire, a Delaware judge has ruled
EU to extend tariff-free entry for Ukrainian grain – official
The European Commission is seeking to extend the suspension of customs duties for Ukrainian farm produce for another year
British investment minister urges caution on seizing Russian assets
The UK’s investment minister, Dominic Johnson, has called for the seizure of Russian frozen reserves to be done in a completely legal manner
Kremlin finds IMF’s change of tune on Russian economy ‘interesting’
The latest upgrade of Russia’s economic outlook is “very interesting,” according to Dmitry Peskov
IMF improves Russia’s 2024 GDP growth forecast
The IMF now sees the Russian economy expanding much more rapidly this year than previously expected
Germany sees sharp rise in fake euros
Germany saw a surge in counterfeit euros in circulation last year, according to the Bundesbank
IMF slashes Argentina’s growth forecast over Milei’s ‘shock therapy’
The economy in Argentina, Latin America’s third-biggest, is now expected to contract for a second year in a row, latest IMF update says
EU agrees to tap profits from frozen Russian assets
EU diplomats have agreed to direct the income generated by the frozen reserves of Russia’s central bank
BRICS’ share in global economy overtakes G7 – Russian central bank
The BRICS group now boasts 35% of global GDP in PPP terms, surpassing the G7 group, according to the Bank of Russia
Most Russian companies reporting staff shortages – recruiters
About 86% of Russian businesses are short of workers in areas including transport, financing, IT and biotechnologies, survey says
EU pledges to spend billions on trade route bypassing Russia
Brussels is seeking to raise funds to create a transport corridor to Central Asia
EU living standards depend on Russia – deputy PM
The bloc’s spurning of Russian energy has triggered a slowdown of its economy
Debt-ridden Chinese developer Evergrande liquidated
A Hong Kong court has ordered the liquidation of Chinese property giant Evergrande, which is over $300 billion in debt
Western Europe’s energy supply ‘vulnerable’ – Bloomberg
Having jettisoned Russian gas, the EU has increasingly relied on US LNG for its energy needs
Nuclear power generation to hit all-time high – IEA
Global nuclear power output is set to break records in 2025 as more countries move toward a low-carbon economy, the IEA forecasts
UK poverty deepens – charity
Levels of hardship have deepened for millions of people across the UK since the mid-1990s, according to research