ECONOMY & MARKETS

Pedestrians wearing protective face masks, amid the coronavirus disease (COVID-19) pandemic, are seen at a shopping district in Osaka, Japan, in this photo taken by Kyodo April 7, 2021. Mandatory credit Kyodo/via REUTERS

Japan Downgrades Q4 GDP On Service Sector Weakness

Japan's economic rebound was softer than initial estimates in the final quarter of 2021, revised data showed on Wednesday, as the pickup seen in consumer and business spending was weaker than first reported.

Markets Stagger As Russia Sanctions Intensify

Traders work on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., March 7, 2022.
Plummeting stocks, soaring commodity prices and tightening global financial conditions following Russia's invasion of Ukraine are clouding the outlook for markets already unsettled by the prospect of a hawkish Federal Reserve.

Refining Margins, Fuel Costs Surge On Fallout From Russian Invasion

IBTimes Logo
Refining profits, or margins, from turning crude oil into products such as gasoline and diesel are ballooning, and could surge further after the United States, the world's top oil consumer, on Tuesday banned all Russian oil imports in retaliation of Moscow's invasion of Ukraine.
More news
People count money at Macy's Herald Square store during the early opening of the Black Friday sales in the Manhattan borough of New York, November 26, 2015.

New Index Shows U.S. Inflation Expectations Shifting Higher

One-year U.S. inflation expectations have rocketed higher since Russia's invasion of Ukraine and the longer-term outlook has begun increasing as well, a development likely to be watched closely by the Federal Reserve as it battles to keep price pressures under control.
Alberta Premier Jason Kenney speaks at an event in Ottawa, Ontario, Canada December 9, 2019.

Canada's Alberta To Drop Provincial Fuel Tax As Oil Prices Surge

Canada's main oil-producing province Alberta will drop its provincial fuel tax to give consumers some relief from soaring energy prices, Premier Jason Kenney said on Monday, as he also urged the United States to revive the cancelled Keystone XL (KXL) oil pipeline.
Full moon rises over the Gazprom Neft's oil refinery in Omsk, Russia February 10, 2020.

EU To Phase Out Russian Gas, Oil, Coal Imports - Leaders' Draft

European Union leaders will agree at a summit this week to phase out the EU's dependency on imports of Russian gas, oil and coal, a draft statement showed, marking a turning point in its policy towards Moscow prompted by Russia's invasion of Ukraine.
Employees process ingots of 99.99 percent pure gold at the Krastsvetmet non-ferrous metals plant, one of the world's largest producers in the precious metals industry, in the Siberian city of Krasnoyarsk, Russia November 22, 2018.

London Bullion Market Bars Russian Gold Refineries

The London Bullion Market Association (LBMA) said on Monday it had suspended its accreditation of six Russian precious metals refiners, meaning they will no longer be able to sell gold and silver in the London market, the world's largest.

Pages

IBT Spotlight

We Help Businesses Find B2B Service Providers They Can Trust.