Gas prices jump 24pc as Putin turns off the taps

Ggood morning. We’ve seen the first sign that Vladimir Putin is serious about his threat to turn off the taps. Gazprom confirmed it’s cut off flows of natural gas to Poland and Bulgaria as they had failed to pay in roubles, adding that supplies will be halted until payment has been made. European gas prices … Read more

IMF warns Russia could use crypto ecosystem to avoid sanctions, cites bitcoin mining

(Kitco News) The International Monetary Fund said that Russia could use the crypto universe to get around the Western sanctions that have been imposed on the country since it invaded Ukraine in February. “The war in Ukraine has brought to the forefront some of the challenges that regulators face in terms of applying sanctions and … Read more

Senate confirms Lael Brainard as Fed vice chair

US Federal Reserve board member Lael Brainard speaks after she was nominated by US President Joe Biden to serve as vice chair of the Federal Reserve, in the Eisenhower Executive Office Building’s South Court Auditorium at the White House in Washington, US, November 22, 2021. Kevin Lamarque | Reuters The US Senate on Tuesday confirmed … Read more

Twitter locks down to stop staff ‘going rogue’ over Elon Musk takeover – live updates

Ggood morning. Twitter has locked down changes to its website in an effort to stop unhappy staff ‘going rogue’ and making unauthorized changes in the wake of Elon Musk’s $44bn takeover. Elsewhere, public sector net borrowing came in under forecast in March, with £18.1bn added to the debt pile. 5 things to start your day … Read more

Investment banks slash China growth outlook — one puts GDP below 4%

Prolonged lockdowns in Shanghai have snarled supply chains and prompted banks to cut China GDP forecasts. Here, a truck leaves a port on April 13, 2022, with healthcare supplies for Shanghai. Tang Ke | Visual China Group | Getty Images BEIJING — In just about a week, several investment banks have cut their China growth … Read more

Markets tumble as panic grows over China’s zero Covid collapse

MArkets tumbled across the world on Monday as fears of a new Chinese lockdown sparked panic buying in Beijing. Around £40bn was wiped off the FTSE 100 which dropped 1.9pc, amid concerns over a wave of draconian restrictions to prevent the collapse of China’s zero Covid policy. Economists warned the world’s second-largest economy may already … Read more

S&P brings Greece one notch from investment grade

Standard & Poor’s upgraded Greece’s credit rating one notch on Friday, taking it one step away from investment grade after more than a decade, with Prime Minister Kyriakos Mitsotakis saying it confirms market confidence in the economy. US agency raised the Greek rating from ‘BB’ to ‘BB+’, with a Positive outlook, it announced, noting that … Read more

EU admits ruble payments for Putin’s gas might not breach sanctions

London’s miners have had another weak day, but this time did not drag the FTSE 100 below the performance of its global peers during a rough day on international markets. The FTSE 100 closed down sharply, and was likely saved from an even more devastating drop by a rapidly falling pound. It ended at 7,521, … Read more

The sliding stock market is headed for a loaded week of tech earnings and economic data

Traders work on the floor of the New York Stock Exchange (NYSE) on March 28, 2022 in New York City. Spencer Platt | Getty Images A rough April for Wall Street has seen the S&P 500 slide for three straight weeks, and now investors will grapple with a loaded slate of earnings reports and key … Read more

Fed’s Mester casts doubt on the need for ‘shock’ interest rate hikes ahead

Cleveland Federal Reserve President Loretta Mester said Friday she’s in favor of raising interest rates quickly to bring down inflation, but not so quickly as to disrupt the economic recovery. That means a strong likelihood of backing a 50 basis point rate hike at the next Fed meeting and perhaps a few more after, but … Read more