Economy

Russia has become the largest foreign investor in Iran over the past year, according to Iranian officials, as the two heavily sanctioned nations stepped up cooperation since Russian forces invaded Ukraine. Ehsan Khandouzi, Iran’s finance minister, said Russia had invested $2.76 billion in the country during the current fiscal year that ended this week, citing …

Iran’s finance minister trumpets increase in investment from Russia Read More »

When Jay Powell fielded questions from reporters Wednesday after the Fed’s decision to plow ahead with another rate hike, he joked that it had been “a pretty interesting seven weeks.” The Fed chair spoke after the bank raised interest rates by a quarter of a point, signaling it could be close to ending its campaign …

‘Close to thin ice’: looming credit crisis puts pressure on the Fed Read More »

The great global battle for minerals to feed the green transition is well under way. Rare earths, lithium, cobalt, nickel: the major economies compete fiercely for the raw materials essential to their industrial transformation. Given that many are mined in developing countries – cobalt in the Democratic Republic of Congo, nickel in Indonesia – it …

The EU seeks to tone down the imperial style in the search for critical minerals Read More »

Berlin’s energy watchdog has warned that businesses and households will have to further cut gas consumption if Germany is to avoid an energy crisis next winter. Klaus Müller, head of the Federal Network Agency, said Germany’s power crisis was “not over” and much depended on whether next winter would be colder than the last. “The …

Germany risks running out of gas next winter, warns regulator Read More »

By Annabelle Liang Business reporter 48 minutes ago image source, Getty Images Embattled Chinese property giant Evergrande has announced plans to restructure around $20bn (£16.2bn) of offshore debt, which could be seen as a model for other struggling developers. The firm said the measures will help “efforts to resume operations and resolve issues onshore”. Evergrande …

Evergrande: Troubled Chinese property giant offers debt restructuring plan Read More »

Gold, XAU/USD, Federal Reserve, Jobless Claims – Briefing: Gold prices won at Fed as USD and treasury rates fell Everyone is now focusing on US initial jobless claims to gauge the SVB effect XAU/USD bounced back against key resistance, where to next? Recommended by Daniel Dubrovsky How to trade gold Gold prices rose about 1.6% …

Gold prices turn to US initial jobless claims to gauge SVB economic shock Read More »

As the city debates how to bring in more progressive revenue to fill its ever-growing budget hole, Seattle’s biggest business players proposed a way to protect their profits: suspending the JumpStart payroll tax for three years and, for new businesses, suspending the city’s Business and Occupation Tax ( B&O). In a letter to the mayor …

Big Business wants a three-year hiatus from JumpStart Read More »