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FT: UBS to postpone publication of Q2 results due to Credit Suisse deal 06/05/2023

US Congress Adopts A Suspension Of The Debt Ceiling To Avoid A Historic Default 06/02/2023

Bank of Italy Head forecasts GDP growth in 2023 06/01/2023

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Economics

IEA: China's influence on oil prices more important than decisions by Russia and OPEC

According to the chairman of the IEA, China's economy now influences oil prices more than those made by OPEC and Russia. International Energy Agency (IEA) executive director Fatih Birol says that although oil production curbs by Russia, Saudi Arabia, and other OPEC+ members may put more pressure on...

Forbes: Russian stock market holds blocked €3bn of European investors

As a result of sanctions last year, €3 billion worth of assets of European securities depositories Euroclear and Clearstream were blocked in Russia's National Settlement Depository, writes Forbes. According to Forbes calculations based on reports from Euroclear and Clearstream, the amount of...

May Saw A Decline In China's Exports Due To Weak Global Demand

With a bleak prognosis for global demand, particularly from developed countries, China's exports decreased much more quickly than anticipated in May while imports continued to decline, casting doubt on the fragile economic recovery. A backlog of orders following years of COVID...

Global airlines raise overall industry profit forecast for 2023

IATA: international airlines doubled forecast for industry profits in 2023. According to a press release from the International Air Transport Association (IATA), global airlines might report a net profit of $9.8 billion this year, nearly doubling the previous projection, with revenue expected to...

US Debt Ceiling Agreement Leaves $16 Billion In Unfinished Defence Projects

After the United States enacted a historic bill that raises the debt ceiling but limits federal spending, a $16 billion list of lower priority defence equipment like tanks, helicopter upgrades, and a ship that would typically be funded as part of the defence budget may no longer be purchased....

Despite The Challenges Of 109% Inflation, Argentines Grill More Steak

According to a Rosario grains exchange report released on Friday, Argentines are anticipated to consume the most beef in five years in 2023, maintaining their position as the world's top consumer of steaks per capita despite the severe effects of 109% inflation on food costs. The country...

OPEC+ Reportedly Discussing Tightening Oil Production Cuts: Reuters

As oil prices dipped towards $70 per barrel and market experts talked about a fresh supply glut on Friday, OPEC and its allies are talking about further reducing oil production, possibly by as much as 1 million barrels per day, according to a report by Reuters quoting information from sources....

US Congress Adopts A Suspension Of The Debt Ceiling To Avoid A Historic Default

Bipartisan legislation that raises the government's $31.4 trillion debt ceiling was approved by the U.S. Senate on Thursday, preventing what would have been a first-ever default and having the support of President Joe Biden. After months of partisan fighting between Democrats and...

EU Watchdogs Notice Greenwashing Throughout The Whole Financial Sector Of The Union

EU watchdogs said in progress reports on Thursday to combat greenwashing that banks, insurers, and financial businesses around the European Union have made "misleading claims" about their sustainable credentials to investors. The European Commission requested EU banking, insurance, and...

Bank of Italy Head forecasts GDP growth in 2023

According to projections, Italy's GDP will rise by roughly 1% in 2023. Bank of Italy Governor Ignazio Visco noted that the Italian economy has fared better than anticipated in overcoming recent setbacks. He presented economic data for the previous year and added, "The forecasts available today for...