At a time when the prices of groceries, gas and other essentials have soared to new heights, nearly one-third of U.S workers earn “poverty-level wages” of less than $15 an hour. That’s according to a new data analysis from the global poverty charity Oxfam, which found that 51.9 million U.S. workers make less than $15...Read More
The consequences for the global financial system if Russia cannot pay its foreign debts are likely to be “limited,” a senior official at the International Monetary Fund said Tuesday. The United States and its allies have imposed tough financial sanctions on Russia in retaliation for its invasion of Ukraine, but Moscow so far has made...Read More
That all changed at 8 a.m. on Feb. 24, when his wife shook him awake to say that Russian bombs were raining down on Ukraine. Udodov quickly opened his company’s group chat and urged his Ukrainian programmers to head west to the safest location. “My employees sent me a map of the aerial bombardment,” Udodov...Read More
USD: Fed’s tough love on inflation could send USD/JPY to 125 Hawkish comments from Fed Chair Jerome Powell yesterday have injected another wave of re-pricing into US rates markets. US 10 year yields are up 18bp to 2.33%, but the short-end has sold off more and the US 2-10 year curve has now narrowed down...Read More
Joe Biden has warned a Russian cyber attack on the US is coming and told business executives it is their “patriotic obligation” to strengthen their digital defences. “Today my administration issued new warnings that based on evolving intelligence Russia may be planning a cyber attack against us,” the president said at a meeting on Monday...Read More
During a pandemic that has ravaged economies, tested health systems to the limit, unbalanced finances, and strained global supply chains, it is no surprise that governments around the world are reeling. Sadly, this too often means that the government’s priority for supporting entrepreneurship is underplayed and neglected. But the government’s role in promoting entrepreneurs...Read More
In a press conference Monday, Chief Executive Carrie Lam said that residents of nine countries, including India, the United Kingdom and the United States would be allowed to return home starting April 1. The other nations are Australia, Canada, France, Nepal, Pakistan and the Philippines. Only vaccinated residents of Hong Kong will be eligible to...Read More
By PTI MUMBAI: The rupee declined 26 paise to 76.10 against the US dollar in opening trade on Monday, following its Asian peers after crude oil prices and the American dollar reversed their recent declines. Besides, a lacklustre trend in domestic equities also weighed on investor sentiment. At the interbank foreign exchange, the rupee opened...Read More
Tom Burgis: ‘To confront his kleptocracy, we must first cease our complicity in it’ Tom Burgis is investigations correspondent at the Financial Times and author of Kleptopia (William Collins) There lived a man whose land was rich with oil and gas but who grew up surrounded by poverty and knew every day that things could,...Read More
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