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OpenAI starts talks with Microsoft about new funding and future IPO 05/12/2025

Bayer to cut more than 200 employees in German crop protection products segment 05/13/2025

Markets Rally on US–China 90-Day Tariff Pause as Investors Brace for Protracted Talks 05/12/2025

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Economics

EU to allocate €9B in aid to Ukraine

The European Union (EU) will complete terms of a €9 billion financing package for Ukraine in the next days, according to Bloomberg, citing three European officials. Ursula von der Leyen, the President of the European Commission, stated that the EU will provide Ukraine with a €9 billion loan by the...

China's May Oil Imports From Russia Set A New High, Surpassing Top Supplier Saudi Arabia

China's crude oil imports from Russia increased by 55 per cent year on year in May, surpassing Saudi Arabia as the leading supplier, as refiners took advantage of discounted supplies amid sanctions imposed on Moscow for its invasion of Ukraine. According to Chinese General Administration...

Crypto Market Concerned Of Contagion With Bitcoin Falling Below $20,000

On Monday, the cryptocurrency industry was in anxiety as bitcoin fought to hold above a critical level, with investors concerned that issues at prominent crypto companies may spark a larger market shakeout. In early London trading hours, Bitcoin, the world's largest cryptocurrency, was...

Reuters: China increases Russian oil imports to record levels

According to Reuters, China raised its oil imports from Russia by nearly 25% on a monthly basis and by 55 percent on an annual basis in May, bringing purchases to a record high. Oil shipments from Russia to China totaled about 8.42 million tonnes (or 1.98 million barrels per day) in May, according...

Withdrawals At Babel Finance Halted As Cryptocurrency Markets Fall

On Friday, Hong Kong-based Babel Finance briefly banned crypto asset withdrawals and redemptions as the crypto lender scrambled to pay its clients following the recent downturn in the digital currency market. Cryptocurrency valuations have plummeted in recent weeks as investors flee...

EU Cannot Agree On Reforms In Corporate Tax Since Hungary Vetoes Changes

Hungary's Finance Minister, Mihaly Varga, informed his EU counterparts on Friday that his country could not support corporation tax reform at this time, essentially thwarting an agreement at the EU level. An EU agreement was expected on Friday after Poland withdrew its opposition to...

Eurogroup approves Croatia's entry into the eurozone

Croatia's membership in the European Union will begin on January 1, 2023, according to the Eurogroup. This is the first stage in the EU Council's process of adopting legal measures that would allow Croatia to join the eurozone and profit from the euro's use. "Ministers agreed with the European...

Poland's PKN Orlen invests $435M in Czech energy sector

According to Czech Prime Minister Petr Fiala, Polish oil refiner PKN Orlen plans to spend more than 10 billion crowns (about $435 million) in the Czech energy sector. "During our discussions with PKN Orlen executives, we talked over a number of energy-related initiatives. The main topic of debate...

Europe's Central Banks Raise Interest Rates To Combat A Surge In Inflation

On Thursday, central banks across Europe hiked interest rates, a few by rates that shocked markets, and hinted at much higher borrowing costs to come in order to manage skyrocketing inflation, which is eroding savings and squeezing corporate profits. Inflation has spread to...

Russia, The World's Largest Producer, Opposes A Move To Redefine "Conflict Diamonds"

Russia has thwarted a Western-backed initiative to investigate whether its diamonds are supporting war before of an international conflict diamond summit in Botswana, according to letters obtained by Reuters. The Russian effort was supported by Belarus, Central African Republic, Kyrgyzstan and...