Boom Bust looks into Facebook’s ‘toxic’ Instagram Kids project
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Facebook said this week it is “pausing” its Instagram Kids project in order to “work with parents, experts and policymakers to demonstrate the value and need for this product.” Read Full Article at RT.com
‘Street brawl’ between France & AUKUS part of de-dollarization & deglobalization trend – RT’s Keiser Report
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The new AUKUS submarine pact between the US, UK and Australia, which saw France lose a major ship-building deal with Canberra last week, has led to a verbal fire exchange and diplomatic snubbing between Washington and Paris. Read Full Article at RT.com
Oil rallies above $80 for the first time since 2018 amid tight supply
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The Brent crude oil price for November exceeded $80 per barrel for the first time in three years, trading data shows. The rally comes as energy demand runs ahead of supply amid post-pandemic recovery. Read Full Article at RT.com
Two top US central bankers resign after reports of controversial investment trades
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Presidents of the Federal Reserve banks of Boston and Dallas are stepping down, after recent reports of potentially unethical investments in 2020 drew criticism and prompted the Fed to launch an ethics review. Read Full Article at RT.com
Taliban calls on airlines to resume international flights to Afghanistan
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The Taliban government in Afghanistan has appealed for international flights to be restored, claiming that all the problems at the Kabul airport have been resolved while promising full cooperation with airlines. Read Full Article at RT.com
Global energy supply crunch pushes oil prices to three-year high
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Crude prices extended gains on Monday, rallying to their highest levels since 2018 as global refineries fail to keep up with fuel demand that is projected to reach pre-pandemic levels by early next year. Read Full Article at RT.com
China to plunge into power crunch as looming Evergrande default sends shockwaves through financial sector – media
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An imminent power-supply shock is reportedly expected to hit China just as the world’s second-biggest economy is gripped with uncertainty over the probable bankruptcy of one of the country’s real estate majors, Evergrande. Read Full Article at RT.com
Food spending in Asian countries to double by 2030 – report
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Asian states are on course to double their spending on food by 2030 to some $8 trillion, with over $1.5 trillion of investment needed to keep up with the demand, a new report finds. Read Full Article at RT.com
Russia to commission 15 new nuclear power units by 2035 – Rosatom
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The number of nuclear power units in Russia will be increased at most of the country’s operational nuclear power plants, according to Director General of the State Atomic Energy Corporation Rosatom, Aleksey Likhachev. Read Full Article at RT.com
US firms’ direct investments in Russia 9 times higher than official figures indicate – survey
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American companies operating in Russia have made direct investments amounting to a total of $96.05 billion, according to the sixth annual joint survey of the American Chamber of Commerce in Russia (AmCham) and Ernst & Young. Read Full Article at RT.com
Gas or gaslighting? Ukraine accuses Russia of weaponizing energy resources
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The head of Ukraine’s state-controlled energy corporation Naftogaz is calling on Washington and Berlin to take decisive action against Russia, accusing the country of using its natural gas as a geopolitical weapon. Read Full Article at RT.com
Poland has no power to veto certification of Nord Stream 2 – Germany
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Poland’s energy company PGNiG will not have the right to veto the certification of Russia’s Nord Stream 2 gas pipeline, says German energy regulator Bundesnetzagentur (BNetzA). Read Full Article at RT.com
Strong exports to speed up China’s economic recovery – report
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The Chinese economy is expected to maintain its recovery over the rest of 2021 thanks to the country’s strong exports, according to research by the Asian Development Bank (ADB). Read Full Article at RT.com
Poland claims Russia’s Nord Stream 2 pipeline does not meet European certification requirements
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Polish energy company PGNiG has claimed Russia’s Nord Stream 2 gas pipeline does not meet EU requirements, possibly causing further delays to the certification process needed to launch gas deliveries. Read Full Article at RT.com
JPMorgan facing oil bribery probe in Brazil – media
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An investigation is underway in Brazil into whether JPMorgan Chase took part in an alleged bribery and money laundering scheme, dating back to 2011, involving state-run oil company Petrobras. Read Full Article at RT.com
Cryptocurrencies continue to slide amid global market uncertainty
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The world's most popular cryptocurrency, bitcoin, continued trading in the red on Wednesday, after a day which saw it briefly drop below $40,000 for the first time since August. Other leading cryptos are also trading lower. Read Full Article at RT.com
Could new ransomware attack threaten US food supply? Boom Bust finds out
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Another massive cyberattack on a major US agriculture group has forced the services provider’s systems to go offline. The attack is believed to have been carried out by a successor of the Colonial Pipeline hacker. Read Full Article at RT.com
India to resume Covid vaccine exports to developing nations
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The world’s largest vaccine producer, India, has announced that starting from October it will resume coronavirus vaccine exports to developing countries that have struggled to inoculate their populations. Read Full Article at RT.com
Russian economy ‘completely restored’ to pre-pandemic level – Putin
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Russia has completely overcome the economic decline caused by the Covid-19 pandemic, President Vladimir Putin said on Tuesday during a meeting on economic issues. Read Full Article at RT.com
Indian stock market on course to become world’s 5th largest by 2024 – Goldman Sachs
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With Indian start-ups raising $10 billion through IPOs so far in 2021 and some 150 private firms lined up to list on the country’s stock market, India could soon increase $400 billion in market value, Goldman Sachs predicts. Read Full Article at RT.com
Electricity prices to spike 10% in France this winter, consumer group warns
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With European natural gas prices hitting record highs in recent weeks, French consumer organization UFC-Que Choisir has warned of an unprecedented rise in electricity prices for the country. Read Full Article at RT.com
Bitcoin leads cryptocurrency market meltdown amid concerns over global equity markets
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The world’s largest cryptocurrency, bitcoin, dropped below the $44,000 level on Monday as concerns over global equities spilled over into crypto markets. Read Full Article at RT.com
Gas prices in Europe spike on news of no extra transit through Ukraine
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European gas prices surpassed $900 per 1,000 cubic meters on Monday, following reports about Gazprom’s decision not to book additional capacities for gas transit through Ukrainian territory. Read Full Article at RT.com
Russian pipeline gas exports to China nearly triple in 2021
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Deliveries of pipeline gas from Russia to China in January-August 2021 jumped 2.7 times year on year to 4.73 million tons. According to Russia’s state energy giant Gazprom, China’s gas demand has “stunning” growth potential. Read Full Article at RT.co
Russian stocks booming as ruble becomes best-performing emerging market currency
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Global investors have been pouring money into the Russian stock market thanks to the country’s drive to curb inflation and conservative fiscal policy, rebounding commodity prices and the easing of US sanctions. Read Full Article at RT.com
European energy crisis could get ugly with winter coming and EU delaying Russian gas supplies
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Europe is bracing for a difficult winter, having turned to weather-dependent sources of energy like wind and solar power over fossil fuels while natural gas storages have run low. Read Full Article at RT.com
Asia-Pacific stock markets sink on concerns around Evergrande bankruptcy
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Major stock indices in the Asia-Pacific region (APR) are mostly declining on Monday on fears around Chinese property developer Evergrande’s looming bankruptcy. Read Full Article at RT.com
German toy factory reveals teddy bear dedicated to Angela Merkel ahead of her resignation
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A German toy manufacturer has introduced a teddy bear created in tribute to Angela Merkel’s time in office as the chancellor steps down at the end of this year after serving 16 years as the head of Germany’s government. Read Full Article at RT.com
Bank of China: Beijing to steadily expand cross-border use of yuan in 2021
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China is planning to “steadily and prudently” promote internationalization of its currency, the yuan, the country’s central bank said, pledging to strengthen the monitoring of cross-border capital flows and prevent systemic risks. Read Full Article at R
Bitcoin's power consumption for 2021 has already surpassed the whole of 2020 – study
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The world’s top cryptocurrency, bitcoin, is set to consume some 95.68 TW/h (terawatt-hours, or one trillion watts per hour) by the end of the year, according to the Cambridge Bitcoin Electricity Consumption Index. Read Full Article at RT.com
Chinese real estate developer Evergrande has reportedly begun repaying investors in its wealth management products with property, as the giant appeared to be on the brink of collapse. Read Full Article at RT.com
Russian gold production dips slightly, silver output grows
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Gold production in Russia in January to June decreased by 1.9% compared to the same period last year, amounting to 135.51 tons, the country’s Ministry of Finance said. Read Full Article at RT.com
Energy crisis stretches to UK food-supply chain, already bruised by labour shortage amid Brexit & Covid-19
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British meat processors have become the latest casualty of the growing energy crisis that threatens to result in a dire shortage of carbon dioxide gas, which is widely used throughout the food and drinks industry. Read Full Article at RT.com
Russia resumes wheat exports to Algeria after 5yr break
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Algeria has allowed Russian grain imports for the first time in more than five years. The first shipment of 30,000 tons of wheat is on its way to the North African nation. Read Full Article at RT.com
Boeing improves its jet demand forecast, but next 10 years still expected to be below pre-pandemic levels
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US planemaker Boeing has upgraded its long-term demand forecasts on the expectation that domestic travel will recover to pre-Covid crisis levels in 2022 and international flying will rebound in 2024. Read Full Article at RT.com
US fight against Nord Stream 2 is part of proxy war against Russia in Washington's attempt to hold on to power – analyst
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Construction of Russia’s Nord Stream 2 gas pipeline was completed a week ago. However, the US continues to pressure its European allies to delay the project’s certification. Read Full Article at RT.com
Russian natural gas reserves to last another century – Gazprom
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Russia’s state-run energy giant Gazprom estimates the country’s reserves of natural gas will last 100 years with some deposits capable of delivering the fuel until 2132. Read Full Article at RT.com
AMC cinemas to accept other cryptocurrencies in addition to bitcoin
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The world’s largest cinema chain AMC Entertainment has announced it is expanding the range of cryptocurrencies it will accept for online ticket and concession payments. Read Full Article at RT.com
Boom Bust looks at EU’s infrastructure plan to rival China’s Belt and Road Initiative
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European Commission President Ursula von der Leyen has called on the EU to counter rising Chinese investment with a new infrastructure program, Global Gate. “We want to create links and not dependencies,” she said in her address. Read Full Article at RT.c
Natural gas deficit may force Europeans to switch back to coal – expert
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Rising gas prices will force European countries to restrain their ambitions to phase out coal and fossil fuels, according to an expert on EU energy markets, Simonas Vileikis. Read Full Article at RT.com
