MOSCOW—Russian gas exports to Europe via pipelines plummeted to a post-Soviet low in 2022 as its largest customer cut imports due to the conflict in Ukraine and a major pipeline was damaged by mysterious blasts, Gazprom data and Reuters calculations showed. The European Union, traditionally Russia’s largest consumer for oil and gas, has for years…
Russian Pipeline Gas Exports to Europe Collapse to a Post-Soviet Low
December 28, 2022
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Business & MarketseconomyenergyEuropeexportGasGold and CommoditiesMarketsRussiaRussia-Ukraine WarWorld
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Wall Street Opens Subdued as Investors Digest China Reopening
Wall Street’s main indexes opened muted on Wednesday as optimism around unwinding of pandemic restrictions by China was offset by worries about rising COVID-19 cases in the world’s second-largest economy. The Dow Jones Industrial Average rose 23.20 points, or 0.07 percent, at the open to 33,264.76. The S&P 500 opened higher by 0.31 points, or…
Authorities Warn of ‘Pig Butchering’ Cryptocurrency Scam
December 28, 2022
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Business & MarketsCrime and Incidentscrypto fraudCrypto ScamscryptocurrencyMarketsonline scampig butcheringUS
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Americans are being defrauded by “pig butchering” cryptocurrency investment scams, with criminals utilizing social media to cheat thousands of people into losing hundreds of millions of dollars, according to U.S. authorities. “Pig butchering” involves scammers tricking a victim, referred to as a “pig,” into investing money in cryptocurrencies by promising a high rate of return….
Inflation, Recession, and Earnings Among Factors to Drive US Stocks in 2023
December 28, 2022
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Business & MarketsCompanieseconomic policieseconomyenergyinflationMarketsMedia & Big TechrecessionstocksUSUS News
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NEW YORK—U.S. stock investors could not be more eager to turn the page on 2022, a brutal year dominated by market-punishing Federal Reserve rate hikes designed to tamp down the steepest inflation in 40 years. The S&P 500 is down nearly 20 percent year-to-date with only a few trading days left in 2022, on pace…
Dollar Touches 1-week High Versus Yen Thanks to Rise in Bond Yields
LONDON/TOKYO—The dollar touched its highest in over a week against the yen on Wednesday, boosted by a jump in Treasury yields and by anticipation among investors of a rebound in Chinese growth as COVID-19 curbs loosen. The yen also came under pressure after the Bank of Japan signaled that a surprise policy shift last week…
Oil Prices Fall on Worries About China COVID-19 Surge, Global Recession
December 28, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices fell on Wednesday on concerns that rising COVID-19 cases in China, the world’s top oil importer, will disrupt its economic recovery and fuel demand growth as it unwinds its pandemic restrictions. Brent futures for February delivery fell 78 cents, or 0.9 percent, to $83.55 a barrel, by 0900 GMT. U.S. crude fell 75…
Global Shares Muted as Investors Fret Over China Reopening
December 28, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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SINGAPORE, LONDON—Global equities traded sideways on Wednesday after China took further steps towards reopening its COVID-battered economy, with hopes for an economic rebound tempered by near-term worries over rising cases. MSCI’s broadest index of global stocks was flat as investors stayed on the sidelines at the end of a brutal year for equities. The global…
Double-Digit US Home Price Growth Streak Skids to an End
Annual price growth in the increasingly fragile U.S. housing market slid into the single digits in October for the first time in about two years when mortgage rates that month surged above 7 percent and further stifled demand, a pair of closely watched surveys showed on Tuesday. The S&P CoreLogic Case Shiller national home price…
Stocks Close Lower on Wall Street, Adding to Recent Losses
Stocks closed lower Tuesday, adding to the market’s recent losses as Wall Street counts down its final days of a painful year for investors. The S&P 500 fell 0.4 percent, while the Nasdaq composite finished 1.4 percent lower. Both indexes were coming off their third straight weekly loss. The Dow Jones Industrial Average eked out…
Tesla Shares Extend Losses on Demand Worries in China
Tesla Inc. shares fell 11.4 percent on Tuesday after a Reuters report that Tesla was planning to run a reduced production schedule in January at its Shanghai plant sparked worries of a drop in demand in the world’s biggest car market. The stock, which fell to its lowest in more than two years and had…
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