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ECB, BoE weigh ‘two possible mistakes’ as Iran war bites
European Central Bank President Christine Lagarde and Bank of England Governor Andrew Bailey will spend the summer trying to shake off the ghosts of their past inflation mistakes as they move to combat spiraling prices. Europe’s most powerful economic officials face a haunting dilemma: how to respond to the Iran war without repeating the errors that followed the Covid pandemic and Russia’s invasion of Ukraine. Their decisions will shape the continent’s economic future for years to come — and...
Ukraine-Russia war latest: Moscow car bomb kills Putin’s general overseeing ammunition supplies
Ukraine-Russia war latest: Moscow car bomb kills Putin’s general overseeing ammunition supplies Russian general Davydov was handling the defence ministry’s missile and artillery wing - Bookmark - CommentsGo to comments A general in charge of ammunition supplies for the Russian army has been killed in an attack in the Moscow region, officials said. Damir Davydov, the head of the Russian defence ministry’s missile and artillery wing, was reportedly killed in a car explosion in Balashikha. The...
Vladimir Putin warned by his own officials that the mounting cost of the Ukraine war is ‘unsustainable’
Vladimir Putin warned by his own officials that the mounting cost of the Ukraine war is ‘unsustainable’ The Kremlin warns that cutting defence spending now would hurt Russian businesses dependent on lucrative contracts - Bookmark - CommentsGo to comments Vladimir Putin has been warned that he cannot afford to sustain its war in Ukraine at the current pace as Kyiv continues to tally frontline wins and devastate energy infrastructure deep inside Russia. Top finance officials and Russia’s...
Ukraine-Russia war latest: Putin’s UK envoy admits war has ‘cost a lot’ as drone strike overshadows ‘Russian Davos’
Ukraine-Russia war latest: Putin’s UK envoy admits war has ‘cost a lot’ as drone strike overshadows ‘Russian Davos’ Russian diplomat says ‘we cannot lose this war’ as he admits Ukrainian forces have caused major damage to Russian oil infrastructure - Bookmark - CommentsGo to comments Ukraine war cost us a lot, says Russian envoy to the UK The Russian ambassador to the UK has said the war in Ukraine is taking a toll on Moscow and the stakes are now too high for Russian forces to “lose this...
Trump’s ballroom chief, conspiracy theorists and Steven Segal: The surprise US guests attending Putin’s own ‘Davos’
Trump’s ballroom chief, conspiracy theorists and Steven Segal: The surprise US guests attending Putin’s own ‘Davos’ Russia’s version of the international economic forum comes after Moscow’s top finance officials reportedly urged the Kremlin to rein in defence spending. Alex Croft reports on some of the more unexpected attendees - Bookmark - CommentsGo to comments Russia’s answer to the Davos economic summit kicked off on Wednesday, days after Vladimir Putin was warned that he can no longer...
Russian economy 'on brink of collapse' as Putin blows £400m on one Ukraine blitz
Russian economy 'on brink of collapse' as Putin blows £400m on one Ukraine blitz Putin launched one of the largest drone strikes of the year in Ukraine last night, killing 15 civilians and costing the Kremlin around £400,000,000 Russia's wartime economy is reportedly on the verge of collapse, Putin has been warned, after the despot blew over £400m in a single night on a massive drone attack on Ukraine. Last night saw the Kremlin stage one of its largest missile and drone strikes on Ukraine...
‘I’ve lost hope’: Ukraine reels after Russia launches one of the largest attacks of the war
‘I’ve lost hope’: Ukraine reels after Russia launches one of the largest attacks of the war The Kremlin said the war had entered ‘a new paradigm’ as it unleashed a blistering attack on Ukrainian targets with hundreds of drones and missiles - Bookmark - CommentsGo to comments At least 18 people have been killed across Ukraine after Russia launched one of the largest aerial attacks of the four-year war overnight. Russian forces launched 73 missiles and 656 attack drones at targets in Ukraine,...
North Korea needs China for survival: Why does Beijing need Pyongyang?
North Korea needs China for survival: Why does Beijing need Pyongyang? Chinese President Xi Jinping visits North Korea as Beijing aims to boost ties amid Pyongyang’s growing relations with Russia. China’s President Xi Jinping has arrived in Pyongyang on his first overseas trip this year as he aims to boost ties with North Korea, a reclusive nuclear-armed nation opposed to US military expansion in the Asia Pacific region.
Bullion movement: Gold prices to track US–Iran peace talks, Fed signals and key data releases this week
In the upcoming week, gold prices will be shaped by developments in US–Iran peace negotiations, movements in crude oil rates and a series of macroeconomic data releases. Analysts have said that speeches by officials of the US Federal Reserve could also play a key role in shaping interest rate expectations, which in turn may guide the near-term direction of bullion prices. "Momentum for precious metals such as gold and silver still looks sideways to corrective," Pranav Mer, Vice President,...