Business
Global bankruptcies exceed 2008 level – FT
Corporate bankruptcies in most advanced economies are rising at rapid rates as borrowing costs grow and pandemic-era aid is eliminated
US national debt jumps $2.6 trillion in six months
Surging public debt is fueling concerns over America’s fiscal health and economic sustainability
Siemens reveals huge Russian exit losses
Germany’s Siemens recorded losses of €600 million due to its decision to wind down operations in Russia
Israel-linked hackers claim cyberattack on Iran
An Israeli hacking group has reportedly knocked out the majority of gas stations in the Islamic Republic of Iran
EU state bans imports of Russian oil
Bulgaria has prematurely scrapped its exemption from the EU ban on Russian oil but lifted the transit tax on natural gas from the country
More oil shippers halt passage via Red Sea due to rebel attacks
BP and other oil companies stop shipments via the Red Sea amid recent attacks in the region
American steelmaking giant sold to foreign company
US Steel agrees to $14.9 billion buyout by Japan’s Nippon Steel months after rejecting an offer from a domestic rival
EU sets date for Russian diamond ban
The EU has agreed a new sanctions package against Russia, including a ban on the country’s diamonds
Biden cancels UK trade deal – media
The US will not go through with plans for a “foundational” trade agreement with Britain, Politico reports, citing sources
Russia calls on BRICS to ditch dollar
BRICS member-states should strengthen ties to withstand economic headwinds, Russian finance minister says
Russia redirecting trade to Asia – finance minister
Russia is rerouting its foreign trade to Asian markets, with most of its exports going to China, the finance minister has said
Record debt levels threaten developing countries – World Bank
Developing economies are at risk of a debt crisis and lost decade as interest rates continue to rise, a report shows
Taliban winning war against opium trade
The Islamist group has succeeded in rooting out opium poppy farming in Afghanistan, UN data shows
German customs threatens to seize Russian Christmas gifts
Authorities in Germany may confiscate parcels from Russia if they contain sanctioned goods, according to the country’s customs service
Production of traditional Russian delicacy surges
The production of red caviar in Russia has reached its highest level since 2010 for the January-October period, an industry group has said
Hungary threatens to block Bulgaria’s Schengen bid
Hungary will veto Bulgaria’s entry into the Schengen area unless Sofia scraps its transit tax on Russian gas, FM Peter Szijjarto has warned