EXPLAINER: Why is Wall Street close to a bear market?

EXPLAINER: Why is Wall Street close to a bear market?

NEW YORK (AP) – The bears are rumbling toward Wall Street. The stock market’s skid this year has pulled the S&P 500 close to what’s known as a bear market. Rising interest rates, high inflation, the war in Ukraine and a slowdown in China’s economy have caused investors to reconsider the prices they’re willing to … Read more

EU rushes out $ 300 billion roadmap to ditch Russian energy

EU rushes out $ 300 billion roadmap to ditch Russian energy

BRUSSELS (AP) – The European Union’s executive arm moved Wednesday to jump-start plans for the 27-nation bloc to abandon Russian energy amid the Kremlin’s war in Ukraineproposing a nearly 300 billion-euro ($ 315 billion) package that includes more efficient use of fuels and a faster rollout of renewable power. The European Commission’s investment initiative is … Read more

Zelenskyy opens Cannes Film Festival, links war and cinema

Zelenskyy opens Cannes Film Festival, links war and cinema

CANNES, France (AP) – The 75th Cannes Film Festival kicked off Tuesday with an eye turned to Russia’s war in Ukraine and a live satellite video address from Ukrainian President Volodymyr Zelenskyy, who called on a new generation of filmmakers to confront dictators as Charlie Chaplin satirized Adolf Hitler. After tributes and musical numbers, Zelenskyy … Read more

Ukrainian band Kalush Orchestra wins Eurovision amid war

Ukrainian band Kalush Orchestra wins Eurovision amid war

TURIN, Italy (AP) – Ukrainian band Kalush Orchestra won the Eurovision Song Contest in the early hours of Sunday in a clear show of popular support for the war-ravaged nation that went beyond the music. Ukrainian President Volodymyr Zelenskyy welcomed the victory, Ukraine’s third since its 2003 Eurovision debut, and said “we will do our … Read more

‘Colossal uncertainty’: Russia surprises with bigger rate cut | Business and Economy News

‘Colossal uncertainty’: Russia surprises with bigger rate cut |  Business and Economy News

Russia’s central bank cut interest rates more than forecast and indicated that borrowing costs may fall even lower, as priorities shift to supporting an economy derailed by international sanctions over the invasion of Ukraine. Three weeks after reversing part of the emergency hike delivered after the attack, the Bank of Russia again lowered its benchmark … Read more

How to Target Russian Oil Exports Without Upending Global Energy Markets

How to Target Russian Oil Exports Without Upending Global Energy Markets

Mounting evidence of Russian war crimes against Ukrainian civilians has spurred calls for sanctions against Russian energy exports, from which Bloomberg projects Russia will earn $ 321 billion this year — more than a one-third increase from 2021. While many in the West are understandably wary of roiling oil markets, there is a way for … Read more