The unpredictable risks of a new Russian debt crisis
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A potential Russian debt crisis carries unpredictable risks
Financial markets rallied Friday after Russian officials made vital transfers to foreign investors, sidestepping what would have been Moscow’s first sovereign debt default in nearly two and half decades. But despite Continue Reading
The World’s Biggest Commodities Markets Are Starting to Seize Up
How Russia-China Relations Could Impact Energy Market It’s getting harder to deal in some of the world’s most important commodities as everything from geopolitical turmoil to exchange snafus prompt traders Continue Reading
The global economy’s growing risks: stagflation, refugees and lockdowns
This was supposed to be the year the world economy recovered from the shock of Covid-19. By the end of 2022, official forecasters expected the US, European and Chinese economies Continue Reading
Retreat from Russia riddled with risks for Western banks
As they switch off the lights in Moscow, the world’s top banks face a risk-ridden retreat, juggling obligations to anxious clients and staff while complying with sanctions that have rewritten Continue Reading
Russia Bonds Rise, Default Risk Tumbles as Payment Sent to Citi
Russian dollar bonds rose, and the cost of insuring the nation’s debt against default dropped after people familiar with the matter said funds earmarked for interest payments on the Russian Continue Reading
Fed Raises Rates and Projects Six More Increases in 2022
The Federal Reserve lifted its key interest rate by a quarter of a percentage point on Wednesday as policymakers took their first decisive step toward trying to tame rapid inflation by raising Continue Reading
Russia Watchers Seek New Indicators to Gauge Impact of Sanctions
In a televised address on March 16, Russian President Vladimir Putin said Western powers have subjected his country to an “ economic blitzkrieg ” of sanctions. But for Russia watchers Continue Reading
Supply Chain Disruptions Force European Automakers To Halt Production
We naturally focus on metals and energy issues when reviewing the Russian invasion of Ukraine. However, metals and energy are not the only commodities or products Russia and Ukraine export Continue Reading
Sanctions-savaged Russia teeters on brink of historic default
The economic cost of Russia’s assault on Ukraine was fully exposed on Wednesday as Vladimir Putin’s sanctions-ravaged government teetered on the brink of its first international debt default since the Continue Reading
World Economy Braces for Supply Hit as China Battles Covid Again
The global economy — already struggling with war in Ukraine and the stagflation risks it’s fanning — is bracing for greater disruption as China scrambles to contain its worst outbreak Continue Reading
China’s Wealthiest Drop $52 Billion in a Day as Stocks Plunge
China’s stock rout cost the nation’s richest tycoons more than $52 billion on Monday. Zhong Shanshan Zhong Shanshan, known as China’s king of bottled water, led the plunge as his Continue Reading
The Inflation Hits Just Keep Coming, Raising Stakes for the Fed
Escalating sanctions by the West to punish Russia for its war against Ukraine are driving fears that an episode of increased inflation, already at its highest levels in 40 years, will become harder Continue Reading
Russia Is Spiraling Toward a $150 Billion Default Nightmare
What happens with bond payments due Wednesday could kickstart Russia’s first foreign-currency default since the 1917 revolution Russian Police officers run to detain a man holding a poster that reads Continue Reading
World’s Central Banks Set Policy for Economies Shaken by the War
Fed takes center stage among eight members out of Group of 20 BOE, Brazil officials may hike rates in wake of U.S. move Zell Says Fed Should Stop Buying Securities, Continue Reading
Dozens of corporations are still in Russia. It’s getting harder for them to leave.
Hundreds of multinational corporations have cut ties with Russia as its military assault on Ukraine intensifies, bolstering the effects of western economic sanctions and redirecting their operations to serve desperate Continue Reading
Russia built an economy like a fortress but the pain is real
Western sanctions are dealing a severe blow to Russia’s economy. The ruble is plunging, foreign businesses are fleeing and sharply higher prices are in the offing. Familiar products may disappear Continue Reading
World Bank official says war-driven oil price hikes to slash growth for big importers
Persistent high oil prices prompted by Russia’s invasion of Ukraine could cut a full percentage point off the growth off large oil-importing developing economies like China, Indonesia, South Africa and Continue Reading
War In Ukraine Leads To Full-Scale Commodities Melt-Up
Crude, natural gas, aluminum, nickel, wheat, and a whole host of other commodities have seen extreme price increases in recent weeks. Massive re-pricing in commodities is causing turmoil in global Continue Reading
Western economies on brink of recession as Russia sanctions escalate: Kemp
Recession in Europe and North America may be the inevitable price for defending freedom, resisting aggression and upholding international law in Ukraine. U.S. and European leaders now face an unpleasant Continue Reading
Will Russian Bonds Default? There’s Debate About That
The headquarters of the Ministry of Finance in Moscow, Russia. War, sanctions, perplexing government decrees and disrupted payment chains are leaving investors in Russian bonds scratching their heads. Payments to Continue Reading
Carmakers face soaring metal costs with Russian supplies at risk
Saving up for a new ride? Better start putting more cash aside. Russia’s invasion of Ukraine is ramping up the price of metals used in cars, from aluminum in the Continue Reading
Russia’s Ukraine invasion could be a global economic ‘game changer’
Russia’s invasion of Ukraine and the financial reckoning imposed on Moscow in response are proof that the triumphant globalization campaign that began more than 30 years ago has reached a dead end. Continue Reading
EU Weighs Looser Aid Rules as Ukraine War Hits Bloc’s Economy
The European Union is weighing how to help stem the economic hit from the war in Ukraine, including a possible relaxation of the bloc’s tough state-aid rules. The European Commission Continue Reading
Stock Market’s ‘Denial Trade’ on Russian Invasion Is Buckling
Equity markets have come round to the idea that Russia’s invasion of Ukraine could have long-term consequences for the global economy. European stocks slumped at the end of the week Continue Reading
Russia supply angst fuels hefty weekly gains for Oil, gas and metals
Commodity markets were on track on Friday for their biggest weekly gains in years as the shuttering of Ukrainian ports and sanctions against Russia sent energy, crop, and metal buyers Continue Reading
Russian Economy Staggers Into 1998 ‘Times Three’ With Foreign Exodus
The international isolating of Russia is leaving local businesses flailing as foreign firms head for the exits, helping to drive the economy deeper into recession. Besieged by international sanctions over Continue Reading
Solid U.S. job gains forecast in February; unemployment rate seen dipping to 3.9%
Nonfarm payrolls forecast increasing 400,000 in February Unemployment rate seen falling to 3.9% from 4.0% Average hourly earnings forecast rising 0.5% Average workweek seen climbing to 34.6 hours WASHINGTON, March Continue Reading
Ukraine War Plunges Auto Makers Into New Supply-Chain Crisis
After a pandemic and a global chip crunch, Russia’s war in Ukraine has unleashed auto makers’ third supply-chain crisis in as many years. The fighting in Ukraine has shut down small but Continue Reading
Economic dangers from Russia’s invasion ripple across globe
Moscow’s war on Ukraine and the ferocious financial backlash it’s unleashed are not only inflicting an economic catastrophe on President Vladimir Putin’s Russia. The repercussions are also menacing the global Continue Reading
Goldman Raises U.S. Inflation Forecasts, Sees More Hikes in 2023
Goldman Sachs Group Inc. has lifted its U.S. inflation forecast and now sees the Federal Reserve lifting rates more than expected in 2023. The U.S. bank now forecasts the Fed’s Continue Reading
European Industry Faces Shrink or Shut Decisions on Energy Pain
Europe’s biggest industrial firms have been banking on spring to bring down soaring energy costs. Those hopes faded this week as Russian tanks rolled into Ukraine. Smelters and chemical factories Continue Reading
Momentum grows to ban Russia from SWIFT payment system
Canada, the United States, Britain, and the European Union on Friday said they could act to exclude Russia from the SWIFT global interbank payments system in a further round of Continue Reading
US inflation might have hit a new 40-year high in January
Energy stocks powered through the broader market’s January 2022 slump and are poised to keep rising as long as oil prices stay high and worries about looming interest rate hikes Continue Reading
China Eases Property Loan Curbs as Housing Market Slumps
Apartment buildings at a residential project in Shanghai, China. Bloomberg News China eased a year-long cap on loans for the real estate sector to fund public rental housing, the latest Continue Reading
U.S. Jobs Surged by 467,000 in January as Economy Weathered Omicron
U.S. employers hired at a rapid pace late last year and in January, bolstering the economy in the face of the Omicron wave of Covid-19 and staffing shortages. Payrolls, change since January Continue Reading
ADP: Private payrolls fell by 301,000 jobs in January
Private payrolls tumbled by 301,000 in January, posting their biggest drop-off since the onset of the pandemic, as the omicron variant set off a spike in coronavirus cases, according to data released Continue Reading
Two Critical Supply Shortages That Could Eviscerate The Global Econopmy
There are two key global shortages that we are going to want to keep a very close eye on this year. According to the International Fertilizer Development Center, exceedingly high Continue Reading
Europe’s Top Two Economies Signal Easing of Manufacturing Pain
A nascent easing of supply bottlenecks helped drive manufacturing activity in Europe’s two largest economies in January, at least partially offsetting the drag from tighter restrictions linked to a surge Continue Reading
German producer prices register record 24.2% jump in December
German producer prices rose 24.2% year on the year in December, with the record annual jump driven by higher energy prices, official data showed on Thursday. The jump from the Continue Reading
U.S. Retail Spending, Manufacturing Drop as Omicron and Inflation Surge
U.S. retail spending and manufacturing slowed at the end of 2021 as the Covid-19 Omicron variant and inflation surged, early signs the latest complications from the pandemic could be weighing Continue Reading
German economy remains below pre-pandemic level as growth slows
The German economy grew 2.7 percent last year but remained well below pre-pandemic levels, after growth slowed sharply in the fourth quarter due to the impact of the coronavirus crisis Continue Reading
U.S. Inflation Hit 7% in December, Fastest Pace Since 1982
U.S. inflation hit its fastest pace in nearly four decades last year as pandemic-related supply and demand imbalances, along with stimulus intended to shore up the economy, pushed prices up Continue Reading
Democrats worry Biden could pay the political price for rising inflation – The Washington Post
President Biden and his advisers for months predicted inflation would be only transitory, a temporary problem that would fade as the economy rebounded and as supply chain issues were alleviated. Continue Reading
Commodities 2022: Vehicle makers face challenging year amid persistent chip shortage
Global vehicle manufacturers found themselves struggling to meet demand in the second half of 2021 as production was hampered by a semiconductor chip shortage — and supply is not likely Continue Reading
Jobless Claims in U.S. Unexpectedly Declined in Latest Week
U.S. Jobless Claims Unexpectedly Decline Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast . Applications for U.S. state unemployment benefits unexpectedly fell Continue Reading
World Economy Now Set to Surpass $100 Trillion in 2022
The world economy is set to surpass $100 trillion for the first time in 2022, two years earlier than previously forecast, according to the Centre for Economics and Business Research. Continue Reading
Europe’s biggest energy users warn soaring costs will hit competitiveness
Some of Europe’s biggest energy users are curbing production as they warned soaring power and gas prices could lead to higher manufacturing costs and hit competitiveness. Dunkirk’s Alvance, Europe’s largest Continue Reading
U.S. Producer Prices Climbed Sharply in November
Prices that suppliers are charging businesses and other customers leapt in November, signaling that broad-based price pressures are still building throughout the U.S. supply chain. The Labor Department said Tuesday Continue Reading
‘Degrowth’ Is a Misguided Way to Decarbonize the Economy
Spend any time discussing climate policy and you’re sure to discover the “degrowth” movement. Its vocal proponents are hard to miss, online and off. Its core tenets might be harder Continue Reading