Russia’s senior security official, Dmitry Medvedev, has made it clear that if the U.S. proceeds with confiscating its frozen currency reserves in the West, Russia will retaliate by seizing the assets of U.S. citizens and investors within its borders. This tit-for-tat escalation comes in response to a bill passed by the U.S. House of Representatives
Economy
According to a report from the Centre for Macroeconomic Analysis and Short-Term Forecasting, Russia is facing a stagnation in its industrial production and investments. This stagnation is coupled with a deterioration in exports, declining profitability in most industries, and a shortage of imported components and raw materials. The transition to stagnation is already visible in
BHP Group’s initial proposal of $39 billion to acquire Anglo American was met with rejection by the London-listed miner. Anglo American deemed the offer as significantly undervaluing the miner and its future prospects. This rejection has prompted BHP to consider making an improved offer in the coming weeks. According to a source familiar with the
China’s industrial profits posted smaller gains in the first quarter compared to the first two months, according to official data released by the National Bureau of Statistics (NBS). The data showed a 4.3% increase in profits in the first quarter from a year earlier, which was slower than the 10.2% rise in the first two
The upcoming U.S. Federal Reserve meeting is expected to shed light on the central bank’s stance towards interest rate cuts in 2024. Market participants will be closely watching Fed Chair Jerome Powell’s comments regarding potential policy easing later in the year. The Fed’s previous projection of three rate cuts seems uncertain now due to stronger-than-expected
The recent rally in megacap growth stocks such as Alphabet and Microsoft has had a significant impact on the overall performance of the stock market. Following robust quarterly results from these technology heavyweights, investors have been buoyed by the positive news. Alphabet’s announcement of its first-ever dividend, coupled with a $70 billion stock buyback program,
The U.S. Treasury Department is set to reveal its refunding plans for the upcoming quarter, with expectations of keeping auction sizes stable after several quarters of increases. This news comes as a relief to investors who have been closely monitoring the rapidly rising U.S. debt and its impact on the market. While there may be
A recent U.S. proposal to use the future interest on approximately $300 billion in frozen Russian assets to assist Ukraine, rather than seizing the assets outright, has been gaining traction among the Group of Seven (G7) nations, according to two G7 officials. The idea is to collateralize the interest earned on these assets, which could
The U.S. economic growth in the first quarter fell below the Federal Reserve’s estimates of the economy’s potential for the first time in nearly two years. The 1.6% rate of expansion registered in the first quarter met that mark after a period above the central bank’s median 1.8% estimate of noninflationary potential. This slowing growth
The current market scenario reflects a mix of positive and negative indicators across different regions. Strong business activity data in Europe has led to a rise in the euro against the dollar, surpassing $1.07. This increase was further supported by Tesla’s announcement of new models, propelling its shares up by 13% in after-hours trading. Despite
The recent strengthening of the euro and sterling against the dollar can be attributed to the release of surprisingly robust European activity data. Business activity in the euro zone expanded at its fastest pace in nearly a year, primarily due to a recovery in services. This positive economic data has led to a 0.45% rally
German Chancellor Olaf Scholz and Finance Minister Christian Lindner have both expressed skepticism regarding the reform of Germany’s ‘debt brake’. The ‘debt brake’ is a constitutional provision that limits public deficits to 0.35% of the country’s GDP. Scholz mentioned that he does not see any imminent solutions coming from reforming the debt brake and pointed