23 h. ago Why Russia’s economy is unlikely to collapse even if oil prices fall

Hopes that tougher sanctions and lower oil prices could derail Putin’s war effort underestimate how far the Kremlin has rewired its economyPacing inside the Kremlin last weekend, as news feeds churned out minute-by-minute reports of Donald’s Trump’s Venezuelan coup, Vladimir Putin may have been wondering what it would mean for the price of oil.Crude oil has lubricated the Russian economy for decades – far more than gas exports to Europe – and so the threat of falling oil prices, prompted by US plans for control of Venezuela’s rigs, will have been a source of concern. Continue reading...

Economics

23 h. ago Why Russia’s economy is unlikely to collapse even if oil prices fall | Phillip Inman

Hopes that tougher sanctions and lower oil prices could derail Putin’s war effort underestimate how far the Kremlin has rewired its economyPacing inside the Kremlin last weekend, as news feeds churned out minute-by-minute reports of Donald’s Trump’s Venezuelan coup, Vladimir Putin may have been wondering what it would mean for the price of oil.Crude oil has lubricated the Russian economy for decades – far more than gas exports to Europe – and so the threat of falling oil prices, prompted by US plans for control of Venezuela’s rigs, will have been a source of concern. Continue reading...

Economics

4 d. ago Oil prices fall after Trump says Venezuela will send up to 50m barrels to US

Deal would give US president power to sell up to $3bn-worth of crude stranded in tankers and storage facilitiesBusiness live – latest updatesGlobal oil prices have fallen by more than 1% after Donald Trump said Venezuela would hand over 30m to 50m barrels of the country’s blockaded crude to the US.The deal would give the US president the power to sell up to $3bn (£2.2bn) worth of Venezuelan crude stranded in tankers and storage facilities into an already oversupplied global market. Continue reading...

Politics

5 d. ago Asian shares and US futures advance and oil prices fall back

Asian shares and U.S. futures have advanced after stocks closed higher on Wall Street

Politics

6 d. ago Gold and defence stocks rise after Trump's Venezuela strikes

Gold and defence stocks are rising this morning after the surprise capture of the Venezuelan president over the weekend.

Politics

2 w. ago US capitalism casts millions of citizens aside, yet Badenoch and Farage still laud it | Phillip Inman

Rightwing parties want to follow in US’s footsteps of minimal government intervention, but at what cost?Next month, Donald Trump will welcome a poverty-stricken family to peruse his plans for a $300m glitzy state ballroom in the White House. The event will be staged as part of National Poverty in America Awareness Month, the time every year when charities document the number of US residents surviving on low incomes.Of course, the president will do no such thing, preferring to summon the press to watch him rub shoulders with the billionaire class as he did at last month’s black tie dinner for the Saudi ruler and his entourage. Continue reading...

Politics

3 w. ago FTSE 100 Live 17 December: Inflation rate shows surprise fall, oil price steadies

The rate of inflation fell far more quickly than expected last month paving the way for another cut in interest rates tomorrow.

Economics