ELMAU, Germany (AP) — The Group of Seven economic powers are set to announce an agreement to pursue a price cap on Russian oil, aiming to curb Moscow’s energy revenues, a U.S. official said Monday. The move is part of a joint effort of support for Ukraine that includes raising tariffs on Russian goods and … Read more
G7 leaders meeting in Germany discuss plans to reduce Russian revenues from oil exports amid a surge in energy prices. Leaders of Group of Seven (G7) nations have discussed plans to cap the price of Russian oil in order to put the squeeze on Moscow, which is benefiting from soaring energy prices, and cut off … Read more
Switzerland is a global hub for precious metals with the country’s handful of refineries handling about two-thirds of the world’s gold. Swiss customs authorities are tracking three tonnes of gold of Russian origin that entered Switzerland from the UK last month to watch for potential violations of economic sanctions against Russia following President Vladimir Putin’s … Read more
Vienna ranked first in 2018 and 2019, but was overtaken by Auckland, New Zealand, during the pandemic and slipped to 12th place in 2021, according to the Global Liveability Index 2022. Sylvain Sonnet | The Image Bank | Getty Images After two years, Vienna has overtaken Auckland as the world’s most livable city, according to … Read more
COLOMBO, Sri Lanka (AP) — Sri Lanka’s prime minister says the island nation’s debt-laden economy has “collapsed” as it runs out of money to pay for food and fuel. Short of cash to pay for imports of such necessities and already defaulting on its debt, it is seeking help from neighboring India and China and … Read more
Forty thousand U.K. Network Rail staff and workers at 13 train operators have staged walkouts over pay in Britain’s biggest rail strike in 30 years. Jeff J Mitchell | Getty Images News | Getty Images LONDON — A days-long rail walkout that is causing severe travel disruption across Britain could be just the beginning of … Read more
Russia’s war in Ukraine is preventing grain from leaving the “breadbasket of the world” and making food more expensive across the globe, threatening to worsen shortages, hunger, and political instability in developing countries. Together, Russia and Ukraine export nearly a third of the world’s wheat and barley, more than 70 percent of its sunflower oil … Read more
The Federal Reserve on Wednesday launched its biggest broadside yet against inflation, raising benchmark interest rates three-quarters of a percentage point in a move that equates to the most aggressive hike since 1994. Ending weeks of speculation, the rate-setting Federal Open Market Committee took the level of its benchmark funds rate to a range of … Read more
Former McDonald’s restaurants set to reopen under new branding and ownership in Russia. The new fast-food chain that will take over McDonald’s in Russia has unveiled its new logo before its relaunch. The new logo design shows a red-orange circle and two orange lines against a green background, the image reportedly represents two sticks of … Read more
LOS ANGELES (AP) — President Joe Biden tried to present a unifying vision for the Western Hemisphere on Thursday even as the Summit of the Americas has been wracked by divisions and absences that make it hard to bring North and South America together around shared goals on migration, the economy and climate. The disparities … Read more