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Economics News

A collection of 554 issues

State Duma passed a law on the process of converting depositary receipts into shares, - report of the Bank of Russia

The adopted law will allow holders of depositary receipts to be guaranteed to keep their investments and convert them into the underlying asset - Russian shares. Conversion will take place automatically, later the Bank of Russia will determine the date and procedure for its implementation. Conversion will be carried out

The first quarter was even worse for the U.S.: GDP decline has already been overestimated twice downward

The trade deficit and stimulus cuts have had an even more negative impact on the states' economies than expected. Despite increased investment in the corporate sector, indicating a moderate expansion of the economy, consumer spending is slowing significantly amid record inflation. However, analysts expect the second quarter to show

Moody's said that Russia has defaulted on Eurobonds

Earlier the default was reported by Bloomberg agency. However, it is the rating agency that has to officially announce the default. Moody's has done this - Russia has officially defaulted. * In the IF Bonds TG-Channel we explained why Russia's default declaration is not critical for the

Lagarde confirmed her intention to raise the rate by 25 basis points in July, the size of the September rate hike will be larger, if necessary

ECB President Lagarde believes that ECB policy changes are already working in the economy. The ECB still expects positive growth rates, despite the supply shock hitting the economy, it could last longer. At the same time, inflationary pressures are intensifying and spreading through the domestic economy, the ECB must act

Gasoline is stolen and resold in the U.S. - Fox News

The number of gasoline thefts from gas stations in the United States, followed by the resale of fuel to consumers at lower prices on the Internet, is on the rise. "All this is very sad, because in this situation the owner of the gas station loses. You can literally

A number of European manufacturers of equipment for the pharmaceutical industry began to refuse to supply spare parts to Russia - Kommersant

Companies such as Syntegon and GEA are suspending cooperation, although they are not under Western sanctions. This could lead to problems with the production of new drugs, market participants warn. They are forced to copy the necessary parts and look for alternative suppliers of equipment in China and India.

Beverage producers face carbon dioxide shortage - Vedomosti

Producers fear disruptions in the supply of carbonated beverages due to a shortage of carbon dioxide. Problems with the purchase of carbon dioxide began in late May - early June, the deficit is 10-15%. Gas supplies are confirmed every month, but the problem could become more serious if the situation

Gasoline prices drop in the U.S. amid plans for tax breaks

President Biden plans to repeal the federal gasoline tax, which should help consumers cope with rising prices. A gallon of fuel has cost more than $5 in recent weeks. U.S. gasoline futures have already retreated from their highs by 13%. This is the biggest series of losses since April.

Russian brokers will try to get clients' assets blocked at NSD out of sanctions, but chances are extremely low, - Frank RG

According to the sources, the imposition of sanctions against NSD will leave an opportunity to obtain licenses to unblock assets. At least Freedom Finance and Finam are planning to try to unblock their assets. However the probability of a positive outcome remains low. Assets of too many brokers' clients

Inflation in Britain broke a 40-year record - Reuters

In April it was 9%, and in May it already reached 9.1%. This is the highest figure among the G7 countries. Many investors agree that Britain is at risk of recession. The country has to pay large sums for energy imports, as well as the possible costly consequences of