Author: Steven Sahiounie

Shares in the US financial and brokerage company Charles Schwab tumbled on Monday, as concerns rippled through the financial sector due to the recent collapse of tech and start-up-focused Silicon Valley Bank and crypto-related Signature Bank. The Texas-based financial services corporation’s stock slumped by more than 20% during Monday trading, representing the company’s worst one-day sell-off since April 2000. The wipeout came as the company touted its resilience after a reported 28% decline in average margin balances in February from a year earlier. In a statement, Schwab’s Chief Financial Officer Peter Crawford reassured shareholders and clients that cash outflows hadn’t…

High inflation and energy bills continue to squeeze incomes, a consumer tracker shows As the cost-of-living crisis impacts British households, many are cutting down on food while living in cold homes, according to the latest findings from the ‘Which?’ consumer insight tracker. The monthly survey commissioned by the Food Standards Agency (FSA) revealed that 8.1% of households missed a housing, bill, loan or credit card payment in February. One in seven people (15%) said they had skipped meals due to rising costs. Just over a quarter (27%) said they had gone without some foods, up from 21% in November. Meanwhile, 9% had…

Direct purchases have declined dramatically due to Western sanctions, according to official data German imports of Russian crude oil have ceased almost entirely amid EU sanctions, the country’s statistics service, Destatis, reported on Monday. Deliveries of Russian crude shrank by 99.9% in January to just 3,500 tons, down from 2.8 million tons imported in the same month last year, data showed. The share of Russian crude in Germany’s overall imports of the fuel dropped to 0.1% in January of this year, from 36.5% recorded in the same period in 2022. The numbers come in stark contrast even with…

The growing number of bank collapses signal that entire economies may be failing The US banking industry is reeling from a string of bank failures, which kicked off last week and continue to rattle both domestic and global markets. Economists spell doom and gloom for the economy, despite efforts to stem the fallout. Here are some facts. This article was originally published by RT.

Syria reiterated its support for the global security initiative launched by the President of the People’s Republic of China, Xi Jinping, in 2022. “Syria renews its support for the global security initiative launched by the President of the People’s Republic of China, Xi Jinping, in the year 2022, and asserts that there is an urgent need more than ever before for such constructive initiatives at the global level due to the unprecedented challenges that the world is witnessing today, which increasingly threatens security and stability around the world,” Foreign and Expatriates Ministry said in a statement on Monday. “Syria has…

US occupation forces removed Daesh terrorists from a prison controlled by QSD militia in Hasaka province to their bases inside Iraqi territory. Sources told SANA reporter that the US occupation forces removed terrorists of foreign nationalities from Industrial Secondary Prison controlled by QSD militia via Simalka illegal crossing to places near the occupation bases inside Iraq. The sources affirmed that the move took place hours after the visit of US occupation’s delegation comprising diplomats and military experts to the region, and after a series of meetings between members of this delegation and members of QSD militia. They added that several…

The presidents of Iran and Belarus signed a road map to comprehensive cooperation between the two countries in addition to several agreements in various fields. Following high-profile talks in Tehran on Monday, Iranian President Ebrahim Raisi and his Belarusian counterpart Alexander Lukashenko signed the road map to comprehensive cooperation between the two states. Ministers and ranking officials from the two countries also signed seven other cooperation agreements in the event. The deals entail interaction in the trade sector, transportation, agriculture, cultural and artistic activities, extradition of convicts, and implementation of plans on the occasion of the 30th anniversary of establishment…

The US Defense Department’s fiscal year (FY) 2024 budget request includes $170 billion for procurement, marking the largest such investment in its history, Defense Secretary Lloyd Austin said on Monday. “The FY 2024 president’s budget allows the Defense Department to invest in capabilities that will ensure we maintain a ready, lethal and combat-credible joint force with a laser focus on China as the department’s pacing challenge and addressing the acute threat posed by Russia,” Austin said in a statement. “This budget also funds $170 billion for procurement, the largest in history.” Investments include $61.1 billion for air power development, modernization…

The US Interior Department said on Monday that it is approving three out of five drill sites proposed by ConocoPhillips as part of its Willow Master Development Plan in the National Petroleum Reserve-Alaska. “The Record of Decision denies two of the five drill site pads proposed by ConocoPhillips, reducing the project’s drill pads by 40%,” the Interior Department said in a statement. “[The actions] significantly scale-back the Willow Project within the constraints of valid existing rights under decades-old leases issued by prior administrations.” The Biden administration’s decision to grant partial approval to the energy development project comes despite objections by environmental…

In an attempt to soften his image, Macron is trying to improve his ties with Africa, whose countries France had formerly colonized. Before starting his 18th trip to Africa in a mere eight years, French president Emmanuel Macron boasted of “humility,” “partnership” and “investment” after his country, the previous colonizer of Africa, withdrew its army from multiple African nations. In Gabon’s capital Libreville, Macron expressed: “The days of la Françafrique are well and truly over,” “We have reached the end of a cycle of French history in which military questions held preeminence in Africa,” Macron said. Henceforth, “there will be no…