MOSCOW—President Vladimir Putin is open to talks on a possible settlement to the conflict in Ukraine and believes in a diplomatic solution, the Kremlin said on Friday after Joe Biden suggested he was prepared to speak to the Russian leader. Biden, speaking beside French President Emmanuel Macron, said the only way to end the war…
Air Defenses Activated in Crimea, 2 Drones Shot Down: Russian-Installed Official
LONDON—Russian air defenses were activated on Tuesday in the city of Sevastopol in Crimea, which Russia annexed from Ukraine in 2014, and two drones were shot down, the regional governor said in a statement, urging people to keep calm. Sevastopol is the headquarters of Russia’s Black Sea fleet. Russia blamed Ukraine for an attack on…
Inflation Top Worry for G20 Countries: Survey
Runaway inflation, an unfolding debt crisis, and cost-of-living problems pose the biggest threats to doing business for G20 countries in the next two years, data from the World Economic Forum showed on Monday. Inflation has surged to levels not seen in several decades, prompting a third of G20 countries to identify rising prices as their…
Iran Acknowledges Drone Shipments to Russia Before War, Kyiv Claims Tehran Is Lying
Iran acknowledged for the first time on Saturday that it had supplied Moscow with drones but said they were sent before the war in Ukraine, where Russia has used them to target power stations and civilian infrastructure. Iranian Foreign Minister Hossein Amirabdollahian said a “small number” of drones had been shipped a few months before…
Into a Global Debt Crisis
Commentary There have been three major sovereign debt crisis episodes during the past 200 years. The first one occurred after the Napoleonic wars between 1827 and 1860. The second one occurred during and after the Great Depression and World War II, and the third one during the era of commodity-price and banking crises from around…
IEA Says Europe Must Act Now to Avoid Winter 2023 Gas Shortages
November 4, 2022
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BirolBusiness & Marketscrisiseconomic policieseconomyenergyEuropeGasGold and CommoditiesIEAMarketsRussia-Ukraine WarUkraineWorld
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OSLO—Europe needs to act now to avoid a natural gas shortage next year given the loss of Russian supply and expectations Chinese demand will increase, the International Energy Agency (IEA) said on Thursday. The European Union has succeeded in filling storages to 95 percent ahead of this winter, 5 percent or 5 bcm above their…
Could Auto Loans Be the Source of the Next Crash?
News Analysis During the COVID flash recession, annual vehicle sales bottomed at 8.9 million in April 2020—only to rebound to 18.7 million by April 2021, the fastest yearly change on record. Prices rose as well, eating into the discretionary income of the average consumer. As of mid October, “The number of median weeks of income…
World Food Supplies at Risk as Russia Withdraws From Black Sea Deal
October 31, 2022
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Business & Marketscrisiseconomic policieseconomyenergyEuropeFoodGold and CommoditiesinflationInternationalMarketsRussiaRussia-Ukraine WarshipmentsU.N.UkraineWorld
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SINGAPORE—Russia’s weekend backtrack from a U.N.-brokered deal to export Black Sea grains is likely to hit shipments to import-dependent countries, deepening a global food crisis and sparking gains in prices. Hundreds of thousands of tonnes of wheat booked for delivery to Africa and the Middle East are at risk following Russia’s withdrawal, while Ukrainian corn…
Russia Hits Ukrainian Hydropower Plants in New Missile Strikes
KYIV—Russia fired dozens of missiles at Ukrainian energy facilities including hydroelectric power stations on Monday, causing widespread blackouts, mobile phone outages, and reductions in water supplies. Explosions rocked Kyiv and thick black smoke billowed over the capital in a wave of attacks on Monday morning that Prime Minister Denys Shmyhal said targeted 10 Ukrainian regions…
Russia Announces Completion of Call-Up for Ukraine
FRONTLINES NORTH OF KHERSON, Ukraine—Russia announced on Friday it was finished calling up reservists to fight in Ukraine, having drafted 300,000 people in a month, with more than a quarter of them already sent to the battlefield. Defence Minister Sergei Shoigu was shown on state television informing President Vladimir Putin that 82,000 reservists were now…
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