Oil has become the hottest commodity on Wall Street
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Crude oil has been having a great 2021 so far—a very different situation to last year’s when the pandemic devastated demand for all commodities fueling a price rout that lasted well into 2020. Read Full Article at RT.com
US sees biggest inflation surge in 30 yrs, with consumer prices rising 5.4%
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The US consumer price index jumped higher than expected in June, rising 5.4% compared to the same time last year. This marks its largest monthly gain since 2008, and the biggest surge in inflation the country has seen in 30 years. Read Full Article at RT.com
RT’s Keiser Report looks into how government ‘solutions’ to deflation may lead to hyperinflation
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Max Keiser and Stacy Herbert talk to entrepreneur Jeff Booth, author of 'The price of tomorrow,' about the consequences of government money-printing pushing inflation higher while technological advancement is driving prices down. Read Full Article at RT.com
IEA warns of tight global oil supply if OPEC fails to boost production
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Global oil markets are about to “tighten significantly” unless the Organization of Petroleum Exporting Countries (OPEC) and its allies resolve their issues and step up production, the International Energy Agency (IEA) warns. Read Full Article at RT.com
OPEC's spat isn’t even about oil – it's about what comes after oil
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The UAE took oil market watchers by surprise this month when it dug its heels in and refused to agree to an extension of the current OPEC+ production control deal under its original terms. Read Full Article at RT.com
Capital flight from Russia drops nearly 10% in first six months of year
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The net capital outflow from the Russian Federation in January-June this year totaled $28.2 billion, the Central Bank of Russia (CBR) reported on Friday. Read Full Article at RT.com
Russia raises GDP growth outlook as economy recovers faster than expected
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The Russian Ministry of Economic Development and Trade has raised its forecast for the growth of the country’s economy in 2021, despite new administrative restrictions on business activity due to the third wave of the pandemic. Read Full Article at RT.com
Twitter begins complying with new regulations in India
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Twitter Inc.’s unit in India has appointed an interim chief compliance officer and is to assign other executives in the nearest future in order to comply with the country’s new IT regulations. Read Full Article at RT.com
Are ransomware attacks becoming the new norm for global companies? RT’s Boom Bust finds out
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In the wake of the Colonial Pipeline ransomware attack, which caused gasoline shortages on the US east coast this year, global businesses are facing an increasing number of cyberattacks. Read Full Article at RT.com
Nearly a week of formal and side talks and behind-the-scenes negotiations failed to resolve a dispute over baseline production levels at OPEC+. Read Full Article at RT.com
Student mugs teacher? Cyberattack strikes bitcoin education site with hackers demanding ransom in… bitcoin
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Bitcoin.org, an educational platform for trading in bitcoin, was hit by a cyberattack on Monday, which overloaded the site with traffic and prompted it to shut down. Read Full Article at RT.com
Economic activity picks up across India as mobility levels rise
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India's economy picked up pace in June after a sharp decline in May due to the pandemic-induced lockdowns. Mobility levels rose by 24% nationwide after plunging to a 12-month low in May. Read Full Article at RT.com
What’s the problem with neoclassical economics? RT’s Keiser Report explains
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The Keiser Report looks at neoclassical economics, which bases value on a subjective satisfaction of utility, instead of the classical approach, where the value is based on the time and materials it took to create something. Read Full Article at RT.com
Oil prices surge after OPEC+ fails to reach deal to boost global crude production
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The Organization of the Petroleum Exporting Countries (OPEC) and allied producers failed to agree terms on an oil output deal once again on Monday, prompting crude prices to rise to a three-year high. Read Full Article at RT.com
Bezos steps down as Amazon CEO after 27 years as Andy Jassy officially takes over
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Jeff Bezos has officially ended his run as chief executive at Amazon, the online retailing behemoth that made him the world’s richest man, stepping aside to spend more time on his spaceship company and climate-change activism. Read Full Article at RT.com
Crypto market struggles as both bitcoin & ethereum start week in the red
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Major cryptocurrencies are down on Monday despite a slight rally over the weekend, with bitcoin trading around 3% lower at $34,231 and Ethereum losing 3% at $2,272. Read Full Article at RT.com
Covid pandemic propels record growth of Russian e-commerce
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Russian internet commerce spiked by almost 60% at the start of the Covid pandemic in 2020, rising to 3.2 trillion rubles ($44 billion), Prime Minister Mikhail Mishustin revealed at the international industrial exhibition Innoprom. Read Full Article at RT.com
China cracks down on tech firms over their collection and use of personal data
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Chinese regulators have launched a cybersecurity probe into three more US-listed tech companies, following last week’s order to remove the ride-hailing Didi app from China’s app stores, over data security risks. Read Full Article at RT.com
Crude oil exports from Venezuela inched up last month as traders rushed to sell Venezuelan crude to Chinese buyers ahead of the entry into effect of a new tax. Read Full Article at RT.com
UK’s 4th largest supermarket Morrisons agrees to £6.3bn takeover by SoftBank-owned Fortress Investment Group
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Morrisons, one of the biggest supermarket chains in the United Kingdom, has approved a multibillion-pound takeover from SoftBank’s Fortress Investment Group. Read Full Article at RT.com
Russia’s wheat exports surge over 7% during current agricultural season
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Exports of Russian wheat have amounted to 36.2 million tons since the beginning of the current agricultural year, showing an increase of 7.1% against the same period a year ago, the Russian Ministry of Agriculture reports. Read Full Article at RT.com
Jeff Bezos to step down as Amazon CEO after 27 years
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The founder of online shopping giant Amazon, Jeff Bezos, is set to officially step down on July 5 as the company’s chief executive officer. Read Full Article at RT.com
Virgin Galactic stock skyrockets as Richard Branson aims to beat Jeff Bezos into space
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Shares of Richard Branson's aerospace company Virgin Galactic soared 41% overnight on news that the billionaire will be onboard the test flight scheduled for July 11, ahead of rival Jeff Bezos and his Blue Origin group. Read Full Article at RT.com
Chinese yuan’s share of global currency reserves hits new high
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The share of Chinese currency held by global central banks reached a new high of 2.45% in the first quarter of 2021, the IMF’s Currency Composition of Official Foreign Exchange Reserves (COFER) survey states. Read Full Article at RT.com
Inflation hurts American working class as Fed prints money like it’s going out of style – RT’s Keiser Report
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RT’s Keiser Report looks at the US’ quantitative easing measures, which were initially sold to Americans as a temporary emergency measure after the 2008 financial crisis, but have since become permanent. Read Full Article at RT.com
US dollar grabs bigger share in global currency reserves, but broader trend indicates shift away from greenback
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The share of the US dollar held by global central banks totaled 59.5% from January through March, up from 58.9% recorded in the previous quarter, according to data revealed by the International Monetary Fund (IMF). Read Full Article at RT.com
Were Miami building’s owners negligent in deadly collapse? RT’s Boom Bust investigates
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As the death toll continues to climb in the wake of the Miami apartment building’s collapse, the owners of the condo are facing mounting lawsuits. Read Full Article at RT.com
OPEC+ fears significant oil glut after current production cut agreement ends
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The OPEC+ alliance expects a significant overhang of oil supply on the market after April 2022 when the current production cut pact expires, Reuters reported on Wednesday, citing an internal report of an OPEC+ panel it had seen. Read Full Article at RT.com
India to provide new loan guarantees to bolster Covid-battered economy
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India’s Ministry of Finance has announced a 6.3-trillion rupee ($84.9 billion) relief package to support the nation’s economy in the fight against the Covid-19 pandemic. Read Full Article at RT.com
Sudden death of bitcoin billionaire leaves behind controversial crypto legacy
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One of the world’s biggest individual bitcoin holders, Mircea Popescu, has reportedly died in Costa Rica at the age of 41, leading to uncertainty over the $1 billion in cryptocurrency he leaves behind. Read Full Article at RT.com
RT’s Keiser Report examines how money-printing is causing growing wealth disparity in the US
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Max Keiser and Stacy Herbert look into the US’ quantitative easing program, which was meant to be temporary but has now become permanent. Read Full Article at RT.com
S&P Global Ratings expects Russia’s economic growth to reach 3.7% this year. The agency has upgraded its previous forecast of 3.3%, published in March. Read Full Article at RT.com
Russia’s largest gold mining company to boost output amid global production drop
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Russian gold mining company Polyus is planning to ramp up production over the next two years, as the overall global output of the precious metal has fallen during the Covid-19 pandemic. Read Full Article at RT.com
China’s investment in new Silk Road countries exceeds $130 BILLION
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The volume of direct investments by Chinese companies in the economies of the countries participating in the Belt and Road Initiative have continued to grow rapidly, according to Chinese Foreign Minister Wang Yi. Read Full Article at RT.com
Volkswagen to stop selling combustion engine vehicles in Europe by 2035
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German carmaker Volkswagen (VW) has announced it will stop selling combustion engine cars in Europe by 2035 as it shifts to electric vehicles. The automaker’s entire fleet is planned to be carbon neutral by 2050 at the latest. Read Full Article at RT.com
After years of massive losses, US shale eyes a $60-billion year
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With oil prices rising to levels not seen in over two years, US shale, bouncing off one of its worst-ever years, could be looking at record profits in 2021. Read Full Article at RT.com
RT’s Boom Bust looks at accelerating crypto crackdown across the world
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The spreading global crackdown on cryptocurrencies, particularly in China, has forced bitcoin miners to start fleeing the country. Boom Bust co-host and crypto analyst Ben Swann gives his insight. Read Full Article at RT.com
China has replaced the United Arab Emirates as India’s second-biggest export destination in fiscal year 2021, with outbound shipments to the neighboring country rising 27% to over $21 billion despite the pandemic. Read Full Article at RT.com
Crypto per carat! Sotheby's to accept cryptocurrency for diamond auction
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The world's largest broker of fine art and jewelry, Sotheby's, will accept cryptocurrency for the first time as payment for a rare diamond, which is expected to fetch up to $15 million at an auction in Hong Kong next month. Read Full Article at RT.com
Will Germany be forced to pay Ukraine for non-existent gas transit from Russia? RT’s Boom Bust investigates
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The Biden administration continues to slam the Nord Stream 2 natural gas pipeline from Russia to Germany despite its reluctant admission that nothing can be done to stop the project. Read Full Article at RT.com
