Several of Wall Street's biggest banks are planning on keeping a limited presence and holding on to banking licenses in Russia for the foreseeable future, even as they wind down their broader operations in the country, sources at those banks said.
Britain said on Tuesday it would ban the export of luxury goods to Russia and impose a new 35% tariff on 900 million pounds ($1.2 billion) worth of Russian imports, including vodka, metals, fertilisers and other commodities.
Britain imposed sanctions on hundreds of Russian individuals and entities on Tuesday, using a new law to catch up with the European Union and United States in targeting people accused of propping up Russian President Vladimir Putin.
European stocks fell more than 2% on Tuesday, with commodity-linked sectors leading the losses, as concerns about surging coronavirus cases in China added to nerves ahead of a widely expected U.S.
Britain's unemployment rate dropped below its pre-pandemic rate in the three months to January while pay rose faster than expected, according to official figures that are likely to bolster the Bank of England's plans to raise interest rates.
Sri Lanka will start official talks with the International Monetary Fund (IMF) next month, a cabinet spokesman said on Tuesday, as the government seeks to stave off the island nation's worst economic crisis in years amid growing protests.
Opposition leaders led a march of hundreds of protesters through Sri Lanka's main city of Colombo on Tuesday as anger grows over a worsening economic crisis that has brought fuel shortages and spiralling food prices.
China's economy perked up in the first two months of 2022, with key indicators all exceeding analysts' expectations, although a surge in Omicron cases, property weakness and heightened global uncertainties are weighing on the outlook.
The three main Wall Street stock indexes rallied on Tuesday, a day before an expected interest rate hike by the U.S.
The U.S. dollar index recovered after falling on Tuesday as volatile oil prices impacted the euro and markets grappled with the significance of talks between Russia and Ukraine and indications that COVID lockdowns will crimp economic growth in China.
Japan will closely watch exchange-rate moves as market stability was "very important," Finance Minister Shunichi Suzuki said on Tuesday in the wake of the yen's decline to a five-year low against the dollar.
A default on Russia's sovereign debt would add further pain to Russia's economy and financial system, making it harder for Moscow to find new lending sources and raising future borrowing costs, a U.S.
In a rare public warning, the U.S. Securities and Exchange Commission on Monday told broker-dealers and other market participants to "remain vigilant to market and counterparty risk" amid heightened volatility and global uncertainties.
Brazil's federal government plans to announce on Thursday a program providing some 165 billion reais ($32 billion) of economic stimulus during the current election year, three people familiar with the plan told Reuters.
U.S. consumers upped their outlook for where inflation will be a year from now and in three years time, and they expect to spend substantially more on food, gas and rent in the next 12 months, according to a survey released on Monday by the New York Federal Reserve.
India's annual retail inflation in February for a second consecutive month exceeded 6%, above the central bank's tolerance limit, while economists said policy rates were unlikely to rise soon given worries over economic recovery.
Palladium slumped nearly 17% in a sharp correction after rallying to an all-time high on the Ukraine crisis, as worries eased that supplies of the autocatalyst metal from top producer Russia may be hit.
Sri Lanka's finance minister held talks with a top International Monetary Fund (IMF) official on Monday, two sources said, as the island nation seeks help to deal with its plunging reserves, a sliding currency and surging inflation.
Gains in financial and healthcare shares bolstered the three main U.S.
Gains in financial and healthcare shares bolstered the Dow and the S&P 500 index on Monday, as investors pinned their hopes on Russia-Ukraine peace talks, while shifting their focus to the upcoming Federal Reserve policy meeting.
Staff turnover on Wall Street is set to surge in coming weeks as investment bankers who held off job-hunting during the pandemic cash in their record bonus checks and leave for new opportunities in the red-hot labor market, said recruiters.
Surging inflation is disrupting everything from carpools to the ability to quote prices on new business at already-strained U.S. factories.
European stocks rose on Monday, clinging to hopes of diplomatic efforts by Ukraine and Russia to end weeks-long conflict, while shares in Volkswagen surged after the German carmaker doubled its operating profit.
In what now seem the simpler days of December, when there was only a pandemic to worry about, Federal Reserve officials rallied around the view they could tame inflation with modest interest rate hikes while the economy and labor market thrived.
The yen slid to a new five-year low on Monday, ahead of a bumper week of central bank meetings around the world which will almost certainly reaffirm the Bank of Japan's position as one of the last dovish central banks standing.
The dollar hit a five-year high against the yen on Monday, as traders braced for the U.S. Federal Reserve to begin hiking rates, while reckoning the Bank of Japan remains dovish.
The dollar index slipped on Monday and the yen hit new five-year lows as global markets experienced some re-emergence of risk appetite and investors braced for central bank meetings this week in the United States, Britain and Japan.
The dollar edged lower against a basket of currencies on Monday, but held near a 21-month high hit last week, as investors eyed Russia-Ukraine peace talks, while major central bank meetings this week kept a lid on large moves in foreign exchange.
The dollar dipped modestly against a basket of currencies on Monday but remained near a 21-month high hit last week as investors eyed Russia-Ukraine peace talks, while major central bank meetings this week kept large moves in foreign exchange in check.
Euro zone finance ministers are likely to endorse on Monday the European Commission's view that fiscal policy should move from supportive to neutral next year, but agree they must be ready with more cash should the war in Ukraine make it necessary.
