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

Crypto’s latest meltdown leaves punters bruised and bewildered

Crypto's latest meltdown leaves punters bruised and bewildered

LONDON/MUMBAI/ANKARA, June 21 (Reuters) – For Jeremy Fong, US crypto lender Celsius was an ideal place to stash his digital currency holdings – and earn some spending money from its double-digit interest rates along the way. “I was probably earning $100 a week,” at sites like Celsius, said Fong, a 29-year civil aerospace worker who … 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

Oil steadies as recession worry offsets higher demand outlook

Oil steadies as recession worry offsets higher demand outlook

IMF Managing Director says cannot rule recession out US gasoline demand set to climb as driving season approaches White House weighs tapping emergency diesel reserve Shanghai aims to normalize life from June 1 HOUSTON, May 23 (Reuters) – Oil prices were little changed on Monday, as worries over a possible recession offset an outlook for … 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

In it for the long haul: Qantas bets on Sydney-London non-stop with Airbus order

In it for the long haul: Qantas bets on Sydney-London non-stop with Airbus order

Orders 12 Airbus ultra-long haul A350-1000 planes Direct commercial Sydney-London flight to start late in 2025 20-hour trip to be the world’s longest non-stop flight Orders 20 A321XLRs and 20 A220s to renew domestic fleet Overall Airbus deal could be worth more than $4 bln – Barrenjoey SYDNEY, May 2 (Reuters) – Qantas Airways (QAN.AX) … 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

Cryptoverse: 10 billion reasons bitcoin could become a reserve currency

Cryptoverse: 10 billion reasons bitcoin could become a reserve currency

April 12 (Reuters) – A crypto platform’s pledge to amass $10 billion worth of bitcoin to back its own “stablecoin” is firing up the market. It’s part of a wider movement to crown bitcoin as the reserve currency of a new age. Seoul-based Terraform Labs has so far built up nearly 40,000 bitcoin worth $1.7 … Read more

Crypto and gaming collide in high-risk ‘play-to-earn’ economies

Crypto and gaming collide in high-risk 'play-to-earn' economies

April 8 (Reuters) – Jarindr Thitadilaka says he made as much as $2,000 a month last year from his collection of digital pets, which he would breed and send into battle to win cryptocurrencies. The 28-year-old from Bangkok was playing Axie Infinity, one of a new breed of blockchain-based online games, dubbed “play-to-earn”, which blend … Read more

EXCLUSIVE China state refiners shun new Russian oil trades, teapots fly under radar -sources

EXCLUSIVE China state refiners shun new Russian oil trades, teapots fly under radar -sources

Sinopec, CNOOC, PetroChina, Sinochem refrain from new purchases Worries about sanctions keep state firms at bay Some independent refiners continue ESPO crude imports SINGAPORE, April 6 (Reuters) – China’s state refiners are honoring existing Russian oil contracts but avoiding new ones despite steep discounts, heeding Beijing’s call for caution as western sanctions mount against Russia … Read more