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Recession in Europe and US is imminent, say economists
The risk of Europe and the United States entering recession has increased sharply, warn economists consulted by the Financial Times, ahead of the G7 Summit that starts this weekend. Specialists are pessimistic in view of the tightening of the monetary policy of the US Federal Reserve (Fed) and the worsening
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Joe Biden wants to bury neoliberalism and promote better-paying jobs
The President of the United States of America (USA), Joe Biden, defended this Thursday before businessmen on the American continent that it is time to bury neoliberalism and adopt policies that promote better-paid jobs. “We have to update our recipe for economic growth. In my opinion, it’s time to bury
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Russian gas supply to Denmark will be suspended this Wednesday
Orsted, the largest Danish company in the energy sector, confirmed this Tuesday that Russia will stop supplying gas to Denmark from this Wednesday, June 1, due to the refusal to pay in rubles. Orsted said it had no contractual obligation to pay Russian state energy giant Gazprom in rubles. The
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Russian consumers already feel the weight of economic sanctions
The economic sanctions from the West are already beginning to be felt by Russian consumers, but more so in Moscow or in big cities. There are fewer job openings and more stores closed. For a large part of the Russian population – the majority are employed by the state –
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There is agreement. European Union approves embargo that will cut 90% of Russian oil imports by the end of the year
The heads of government and state of the European Union (EU) today reached an agreement for an embargo on Russian oil, announced the president of the European Council, explaining that two-thirds of European imports to Russia are at stake. The embargo will reduce the EU’s imports of Russian oil by
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Europe’s rush for natural gas could cause energy crisis, analysts warn
Russian oil embargoes have boosted demand for liquefied natural gas, a source of energy primarily imported by Asia since 2010. Europe’s struggle to find alternatives to Russia’s natural gas is pushing the world to the brink of a winter power shortage, with the worst effects likely to be felt in
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The global economy on the edge of a precipice
IMF says the global economy faces “its biggest test” since World War II. In Davos, the future is debated. Crisis after crisis, the global economy is being pushed to the edge of a precipice. On the day that the first in-person World Economic Forum since 2020 opens in Davos, Switzerland,
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White House recognizes ‘risk’ of recession as US experiences high inflation
The United States Government recognized that there is a “risk” of recession, at the same time that the country is experiencing high inflation, and underlined that the economy is in a period of “transition” after the impact of the pandemic. In an interview on CNN television, the director of the
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Russia fulfills threat and cuts gas to Finland
Finnish company Gasum confirmed on Saturday that Russian gas giant Gazprom had cut off gas supplies, as announced on Friday, for failing to meet the requirement to pay in rubles. The Russian company Gazprom announced the suspension of gas supplies to Finland, justifying it with Helsinki’s refusal to pay in
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Brussels presents 210 billion package to achieve independence from Russia
The Commission launches a €210 billion energy package until 2027 for the EU to be independent from Russian energy and proposes to redirect €300 billion in EU funds to finance it. The European Commission has presented an energy package of 210 billion euros until 2027 for the European Union (EU)
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