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2 mins read
World Bank approves $723 million for Ukraine amid Russian invasion
The World Bank announced that it has approved a $723 million financial package for Ukraine as the c…
11 mins read
Big banks promised to protect the planet. Now they're doing an about-face.
Big banks and asset managers are a powerful force in fighting the climate crisis, but many of them …
Catherine Boudreau
2 mins read
Russia's 'overheating' economy will face a sharp slowdown next year as labor and sanctions crush momentum, central bank says
Russia's central bank projects that the economy's expansion will slow sharply to 0.5% to 1.5% in 20…
Filip De Mott
2 mins read
China's trade with Russia is getting so difficult that payments can take half a year and most bank transfers are returned
Chinese banks are tightening compliance checks, fearing repercussions from Western sanctions.
Huileng Tan
1 min read
Russia shuts down dollar and euro trading after sweeping US sanctions take aim at Moscow's financial lifelines
Russians were lining up at one lender that was still offering dollars after trade was restricted fo…
Filip De Mott
2 mins read
Russia holdout HSBC has cut references to a 'war' in Ukraine from its analyst research reports, the FT says
Committees at the research department at HSBC — which is under pressure to exit Russia — have softe…
Hamza Fareed Malik
2 mins read
Proposed US sanctions will sever financial institutions' ties with Russian banks should Ukraine be invaded: report
Meanwhile, Biden and Putin agreed on Sunday to hold a summit over the Ukraine-Russia crisis, under …
Matthew Loh
1 min read
World Bank slashes global growth forecast due to Russia's invasion of Ukraine and preps a relief package bigger than its COVID-19 funding
"Sixty percent of low-income countries are already in debt distress or at high risk of it," World B…
Phil Rosen
1 min read
China's biggest banks are finally getting scared by the West's sanctions against Russia
Chinese banks are tightening compliance checks with Russian businesses as they fear getting caught …
Huileng Tan
7 mins read
Next year could be even tougher than this last for Ukraine, forcing it to fight irregularly to hold on
It's unlikely Ukraine can launch a full-scale counteroffensive next year, opening the door for spor…
Chris Panella
2 mins read
A US veteran who says he fought in Ukraine accused Mike Johnson and MAGA Republicans of 'supporting the genocide of innocent people'
US veteran John Jackson called out House Speaker Mike Johnson and MAGA Republicans for letting "gen…
Thibault Spirlet
3 mins read
Bank credit is shrinking for the first time since the Great Recession - and that's a red flag for the economy
Businesses are borrowing less, as the Federal Reserve's aggressive interest-rate hikes chip away at…
George Glover
2 mins read
BP falls 8% after cutting ties with Russian oil giant Rosneft, adding to mounting financial woes following the Ukraine invasion
"It has led the BP board to conclude, after a thorough process, that our involvement with Rosneft, …
Matthew Fox
3 mins read
As Fed resumes rate hike, market watchers say RBI policy unlikely to be affected
The United States Federal Reserve raised its benchmark interest rate by 25 basis points on Wednesda…
4 mins read
UK sanctions 5 Russian banks, 3 individuals in 'first tranche' of measures over escalation in Ukraine
Boris Johnson announced a "first tranche" of sanctions against Russian banks and individuals &ndash…
Catherine Neilan
2 mins read
Ukrainian Prime Minister Denys Shmyhal says up to $5 billion a month is needed to keep the war effort in Ukraine afloat
Ukrainian prime minister Denys Shmyhal highlighted the need for weapons and medical support to keep…
Cheryl Teh
1 min read
Russia's central bank has $8 billion frozen in Switzerland, which is still deciding what to do with the funds
The Swiss broke their historically neutral standing last February when they adopted EU sanctions ag…
Phil Rosen
5 mins read
Russian oligarchs: Who they are, why they're so wealthy, why they've been sanctioned, and how they've responded
Russia's oligarchs have seen their yachts, private jets, and luxury property detained under Western…
Kate Duffy,Grace Dean
2 mins read
An exiled oligarch says Russian society hasn't yet felt the 'full brunt' of Western sanctions
Mikhail Khodorkovsky said in an Atlantic Council interview that the sanctions against Russia were i…
Kate Duffy
2 mins read
Billionaire investor Leon Cooperman says the US could enter recession in 2023, thanks to surging oil prices or aggressive Fed tightening
"I think the Fed has totally missed it, and I think we have a lot of wood to chop," Cooperman told …