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Economics News

A collection of 554 issues

The pound sterling loses about 1% again

The new Chancellor of the Exchequer, Hunt, says he will raise taxes on the rich but remove tax breaks for the masses. The Treasury also sees the risks of rising inflation and a severe recession in 2023. The pound did not like the Treasury chief's speech.

The Ministry of Finance has no plans to extend preferential mortgages, and this is a dangerous decision

Earlier Marat Khusnullin said that the government must support the industry, otherwise we will have a crisis. The increase in concessional mortgage rates could lead to a sharp drop in housing costs and a crisis of "non-payment" by developers. Demand for mortgages is already low: Russians are not

The Central Bank will introduce new investor protection rules - Izvestia

Investors will be able to forbid brokers to conduct transactions with their money with leverage, as well as with derivative financial instruments. Citizens will be able to independently determine what transactions brokers can perform with their assets. Brokers will also have to warn their clients about the risks of the

Russian market grows by 1% amid rumors about the US-Russia talks in Turkey

Financial sector stocks, which have been one of the worst performers since the beginning of the year, are doing best. The "run-up" of shares from Gref is helping Sber shares grow. Sber reported a profit for the third quarter. The Russian stock market is approaching pre-mobilization levels. New

Herman Gref believes that the current dollar exchange rate is not killing anyone, exporters are already making a lot of profits

"I do not see that this dollar exchange rate is killing anyone. Yes, the exporters would like to have even higher profits than they have, they are making good money now. But nothing terrible is happening," said the head of Sber.

Sberbank proposed that the central bank should cancel mandatory reserve requirements - Vedomosti

At present, credit institutions must always keep a minimum percentage of their ruble and foreign currency liabilities in their accounts with the regulator. Sberbank proposes to rely on the experience of regulators in leading countries as the central banks in England, Canada, Australia, Sweden, New Zealand, and Hong Kong cancelled

Meta is laying off more than 11,000 employees, a 13 percent drop.

The company is laying off employees because of huge costs and declining advertising revenue. During the year, the company's stock plummeted 70%. Meta plans to implement additional cost-cutting changes in the coming months.

On November 1, Turkey banned overflight of airliners registered abroad

Aircraft that were leased and not returned to their owners may no longer enter Turkish airspace. Back in May, China adopted a similar decision prohibiting flights of Boeing and Airbus airliners from Russia. The Russian carriers were never able to confirm to the Chinese authorities that they had deregistered the

Europe will buy gas jointly, Le Figaro

European countries have agreed on joint gas purchases to curb prices, planning to set up a system by the end of November. European authorities have supported the introduction of a temporary mechanism to limit gas prices for power generation. The initiative is already working in Spain and Portugal, and now

AMD presented next generation graphics cards

Novelties are built on graphics processor with RDNA 3 architecture. New graphics processor on RDNA 3 includes 58 billion transistors, and their density is increased by 165% compared to graphics processors on RDNA 2. Radeon RX 7900 XTX has 24 GB of GDDR6 video memory. The power consumption level of