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Anchorage Accord Talks: What Was Said Between Putin and Trump — and a Possible Path to Peace in Ukraine 08/17/2025

Americans keep buying jewellery — and here’s why, even as tariffs loom 08/17/2025

Trump says Zelensky could end Ukraine conflict immediately 08/18/2025

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Economics

JP Morgan raises probability of recession in the US from 25% to 35%

Experts at JP Morgan Chase, a US bank, raised the likelihood of a recession in the United States by the year's end from 25% to 35%. Financiers think the economic situation could deteriorate less than initially forecasted due to reduced activity in the job market. JP Morgan predicts that the chances...

Bank of England: Britain's biggest banks would safely undergo bailouts in the event of a crisis

The Bank of England stated that eight of the biggest banks in Britain can receive bailouts in a crisis without needing government funds for their rescue. The second evaluation by the British Central Bank regarding the performance of the top banks in the country during a potential bailout was...

US Energy Department slightly raises forecast for global oil demand in 2024

In its monthly report, the US Department of Energy's Energy Information Administration (EIA) increased its projected global oil demand for 2024 to 102.94 million barrels per day (bpd) from 102.91 million bpd, but decreased the forecast for 2025 by 130,000 bpd. The EIA's current forecast predicts...

Bloomberg learns about fall of oil exports from Russia to the lowest in 19 months

Russian port crude oil exports dropped to nearly 1.8 million barrels per day in July, marking the lowest level in 19 months, Bloomberg reported based on its own calculations using tanker tracking data. The agency indicates that Russia's exports in June were just over 2.2 million bpd. The overall...

U.K. Government Scraps £1.3 Billion AI Projects Amid Budget Cuts And Shifts Focus

The U.K. government has cancelled £1.3 billion ($1.7 billion) worth of computing infrastructure projects, marking a significant shift in the country's approach to becoming a leader in artificial intelligence (AI). The decision, confirmed by a government spokesperson, involves scrapping two major...

U.S. Labor Market Weakness Sparks Expectations Of Federal Reserve Rate Cuts

The U.S. labor market showed signs of a slowdown in July, as the unemployment rate increased to 4.3%, the highest in nearly three years. This rise from 4.1% in June marked the fourth consecutive monthly increase, according to the Labor Department's report on Friday. The increase from a 50-year low...

Eurozone inflation unexpectedly accelerates to 2.6% in July

Preliminary data from Eurostat show that consumer prices in the eurozone rose by 2.6% annually in July. In other words, inflation increased in comparison to June, reaching 2.5%. The anticipated decrease to 2.4% was predicted by analysts' consensus forecast reported by Trading Economics. In...

US To Implement New Chip Export Controls Targeting China, Exempting Key Allies

The Biden administration is set to introduce a new rule expanding U.S. export controls on semiconductor manufacturing equipment to China, aiming to curb the growth of China's advanced chipmaking industry. However, this new measure will exempt key allies, including Japan, the Netherlands, and South...

Interest Rates Hiked by Bank Of Japan, Signals Shift Towards Policy Normalization

In a surprising move, the Bank of Japan (BOJ) raised interest rates on Wednesday and outlined a comprehensive plan to reduce its large-scale bond purchasing program. This decision marks a significant shift towards unwinding a decade of substantial monetary stimulus. The BOJ increased its...

WoodMac expects China's diesel demand to fall threefold by 2050

Sales of liquefied natural gas-powered heavy-duty vehicles in China increased from less than 10% to 30% of the market in the last few months of 2023. In a research titled "The threat to diesel from LNG trucking in China," Wood Mackenzie analysts stated that more than 8% of the diesel demand in the...