Economies boom with Russian wealth, migration

Economies boom with Russian wealth, migration

Russians cross the border between Russia and Georgia days after President Vladimir Putin announced a mobilization drive on September 21. Daro Sulakauri Getty Images News | Getty Images As many economies reel from the impact of Russia’s invasion of Ukraine, a select few countries are benefiting from an influx of Russian migrants and their accompanying … Read more

China’s COVID cases to smash records as video shows workers rebel | Business and Economy News

Taipei, Taiwan – China’s COVID-19 cases are surging towards record highs, signaling more pain for the world’s second-largest economy as hopes fade for a quick exit from Beijing’s draconian “zero-COVID” policies. The National Health Commission on Wednesday reported 29,157 infections nationwide for the previous day, close to April’s peak. China’s daily caseload peaked at 29,411 … Read more

Britain’s austerity budget had a ‘massive’ hole which will hurt growth: Michael Saunders

Finance Minister Jeremy Hunt, in his hotly anticipated inaugural Autumn Statement, unveiled a sweeping £55 billion ($66 billion) fiscal plan. Anadolu Agency | Anadolu Agency | Getty Images LONDON — UK Finance Minister Jeremy Hunt’s recent fiscal announcement had a “massive” hole where an economic growth strategy should be, according to former Bank of England … Read more

‘Betrayed’: FTX meltdown signals end to crypto’s ‘Wild West’ days | Crypto

Boston, United States – FTX was one of the largest cryptocurrency exchanges in the world – until, earlier this month, it fell apart in a matter of days. In the wake of the collapse of Sam Bankman-Fried’s crypto empire, heightened governmental scrutiny and calls for greater regulation threaten to spell the end of the freewheeling, … Read more

In Brazil, Twitter users fear effect of Musk’s rule Business and Economy News

It was Easter, and Lola Aronovich, a Brazilian literature professor, was enjoying a break at a beach with no internet access, totally unaware of the defamation campaign being orchestrated against her on Twitter. That day in April 2015, the son of Geraldo Alckmin, the former São Paulo governor and currently Brazil’s vice-president-elect, tragically died in … Read more

Opinion: Vladimir Putin isn’t just losing in Ukraine — he’s set Russia’s economy back 40 years

To win a war you need will and means. I am cautiously optimistic that Ukraine has both in its fight against Russia. Ukrainian will increase with every mass grave of murdered civilians uncovered and with every liberated Ukrainian village. For Ukrainians this war is no longer about territory but about survival as a nation — … Read more

Collapse of Carvana, the ‘Amazon of Used Cars’, continues

The sky is not clearing up for Carvana. On the contrary, big clouds continue to gather over the company which was one of the big winners of the covid-19 pandemic, with a massive growth. Since announcing its quarterly results on Nov. 3, Carvana (CVNA) – Get Free Report shares have lost 44% of their value … Read more

Is the Fed ‘going rogue’? Calls heat up to back off quest for 2% inflation

For at least a decade, the Federal Reserve’s position that a 2% inflation rate is where the economy functions best has been taken as gospel. But with a recession potentially on the horizon and the Fed continuing to slam on the brakes, calls are rising that the central bank should re-examine what has been essentially … Read more

Asia-Pacific leaders condemn war, renew calls for open trade

BANGKOK (AP) — Leaders from around the Asia-Pacific called for an end to Russia’s war on Ukraine and pledged to steer the region’s economies towards sustainable growth as they wrapped up summit meetings Saturday. Host Thailand garnered a diplomatic coup in managing to bridge divisions among the 21 members of the Asia-Pacific Economic Cooperation forum … Read more

G-20 leaders end summit condemning Russia despite divisions

NUSA DUA, Indonesia (AP) — Members of the Group of 20 leading economies ended their summit Wednesday with a declaration of firm condemnation of the war in Ukraine. and a warning that the conflict is making an already delicate world economy worse. The summit’s closing statement was noteworthy because world leaders managed to highlight a … Read more