Russia seizes control of Sakhalin gas project, raises stakes with West

Russia seizes control of Sakhalin gas project, raises stakes with West

Putin signed decree to secure all rights on Thursday Five-page decree follows tightening Western sanctions Move raises risks for Western firms still in Russia Shell was already in talks to sell up Sakhalin stake TOKYO/LONDON, July 1 (Reuters) – President Vladimir Putin has raised the stakes in an economic war with the West and its … Read more

US consumer spending, underlying inflation slow in May

US consumer spending, underlying inflation slow in May

Consumer spending increases 0.2% in May Inflation adjusted consumers spending drops 0.4% Core PCE price index rises 0.3%; up 4.7% year-on-year Weekly jobless claims fall 2,000 to 231,000 WASHINGTON, June 30 (Reuters) – US consumer spending rose less than expected in May as motor vehicles remained scarce while higher prices forced cutbacks on purchases of … Read more

Crypto crash threatens North Korea’s stolen funds as it ramps up weapons tests

Crypto crash threatens North Korea's stolen funds as it ramps up weapons tests

SEOUL, June 29 (Reuters) – The nosedive in cryptocurrency markets has wiped out millions of dollars in funds stolen by North Korean hackers, four digital investigators say, threatening a key source of funding for the sanctions-stricken country and its weapons programmes. North Korea has poured resources into stealing cryptocurrencies in recent years, making it a … Read more

Tasty name but no Big Mac: Russia opens rebranded McDonald’s restaurants

Tasty name but no Big Mac: Russia opens rebranded McDonald's restaurants

June 12 (Reuters) – It might look and smell like McDonald’s but now it’s Vkusno & tochka. The golden arches are gone, the Filet-O-Fish is simply a fish burger. The Big Mac has left Russia. A new era for Russia’s fast-food and economic scene dawned on Sunday, as McDonald’s (MCD.N) restaurants flung open their doors … Read more

US gasoline average price tops $5 per gallon in historic first

US gasoline average price tops $5 per gallon in historic first

June 11 (Reuters) – The price of US gasoline averaged more than $5 a gallon for the first time on Saturday, data from the AAA showed, extending a surge in fuel costs that is driving rising inflation. The national average price for regular unleaded gas rose to $5.004 a gallon on June 11 from $4.986 … Read more

TerraUSD backer says will compensate some users; bitcoin back below $30,000

TerraUSD backer says will compensate some users;  bitcoin back below $30,000

Representations of cryptocurrencies Bitcoin, Ethereum, DogeCoin, Ripple, Litecoin are placed on PC motherboard in this illustration taken, June 29, 2021. REUTERS/Dado Ruvic/Illustration/File Photo Register now for FREE unlimited access to Reuters.com Register ECB officials warn of risks from cryptocurrencies Luna Foundation Guard says spent bulk of assets last week trying to prop up TerraUSD LFG … Read more

Global shares fall on fears of global economic slowdown

Global shares fall on fears of global economic slowdown

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, US, May 12, 2022. REUTERS/Brendan McDermid Register now for FREE unlimited access to Reuters.com Register World stocks drop to 1-1/2 yr low, down almost 20% YTD Europe down over 2%, US equity futures struggle Dollar hits 2yr highs, accelerates … Read more

Stocks see slight recovery but negative outlook persists

Stocks see slight recovery but negative outlook persists

A woman wearing a protective mask, amid the coronavirus disease (COVID-19) outbreak, looks at an electronic board displaying Japan’s Nikkei index outside a brokerage in Tokyo, Japan, March 7, 2022. REUTERS/Kim Kyung-Hoon Register now for FREE unlimited access to Reuters.com Register LONDON, May 10 (Reuters) – European stock indexes opened higher on Tuesday, with risk … Read more

Shanghai factories sputter towards reopening as city aims to ease lockdown

Shanghai factories sputter towards reopening as city aims to ease lockdown

SHANGHAI, April 18 (Reuters) – Manufacturers including Tesla (TSLA.O) began preparing on Monday to reopen their Shanghai plants as China’s most populous city speeds up efforts to get back to normal after a nearly three-week COVID shutdown. Still, most workers will have to live onsite, and there was no immediate word how factories will deal … Read more

Exclusive: China’s oil champion prepares Western retreat over sanctions fear

Exclusive: China's oil champion prepares Western retreat over sanctions fear

Men wearing face masks walk past a sign of China National Offshore Oil Corp (CNOOC) outside its headquarters in Beijing, China March 8, 2021. REUTERS/Tingshu Wang Register now for FREE unlimited access to Reuters.com Register CNOOC preparing to exit Britain, Canada, US -sources Beijing concerned over growing tension with West Production in three countries reached … Read more