Author: Steven Sahiounie

Buoyant demand from abroad is reportedly making the products less affordable domestically Spaniards are facing surging prices for tomatoes and pork amid burgeoning demand for the products from abroad and geopolitical tensions, the Financial Times reported this week, citing the billionaire owner of Spanish supermarket chain Mercadona. According to the businessman, who is ranked as Spain’s fourth-richest person, the Russia-Ukraine conflict has heavily weighed on tomato prices as it resulted in sharp surge in prices for natural gas, forcing farmers to shut down production of vegetables in greenhouses in Northern Europe due to high heating costs. As a result, buyers…

The ICC issued arrest warrants for Putin and Russia’s Children’s Rights Commissioner Maria Lvova-Belova on Friday Chairman of the Russian Investigative Committee Alexander Bastrykin has requested providing the legal assessment of German Justice Minister’s statements on arrest of Russian citizens on German territory, the press service of the Investigative Committee said in a statement. “Chairman of the Russian Investigative has tasked its central office within the framework of the ongoing inspection with providing the required legal assessment of statements by German Justice Minister on fulfilling the International Criminal Court’s unlawful requirement to arrest Russian citizens on German territory,” the statement…

Deputy PM Marat Khusnullin noted that he visited the hospital right after the city’s liberation and witnessed with his own eyes that refugees lived, patients remained and surgeries were performed in adjacent buildings Russian President Vladimir Putin commented on the actions of the Ukrainian troops, which mined medical facilities in Mariupol, saying that it is “not the way normal people do it.” Russian President visited the city together with Deputy Prime Minister Marat Khusnullin, inspecting new residential quarters among other things. Deputy PM said that he visited the hospital right after the city’s liberation and witnessed with his own eyes…

The official representative of the Russian Foreign Ministry commented on the statement by US Secretary of State for Political Affairs Victoria Nuland that “the hearts of Americans bleed for Ukraine, but also for all Russian families affected by this war” The US administration is supplying weapons to the Kiev government and has no pity for Russians and Ukrainians alike, Russian Foreign Ministry spokeswoman Maria Zakharova wrote on Telegram, commenting on recent remarks by a senior US diplomat. Earlier, US Under Secretary of State for Political Affairs Victoria Nuland said that “American hearts bleed for Ukraine, but we also bleed for all…

Shares of First Republic Bank and Credit Suisse dive back deep in the red and stock prices of other major banks also fall, with JP Morgan, Citigroup and Bank of America down at least three percent. Stocks markets have tumbled again as fears of a banking crisis resurfaced despite massive financial lifelines thrown at embattled lenders to prevent contagion across the sector. Markets had rallied on Thursday after Wall Street titans including JP Morgan, Bank of America and Citigroup pledged to inject $30 billion into First Republic Bank. Credit Suisse had also rebounded after it said it would borrow up…

Switzerland’s largest bank, UBS, is reported to be negotiating to buy all or part of Credit Suisse, with the blessing of the Swiss regulatory authorities, according to news reports. The Swiss National Bank (SNB) and Swiss regulator FINMA have told their international counterparts they regard a deal with UBS Group as the only way to prevent a collapse in confidence in Credit Suisse Group, the Financial Times reported. UBS, Credit Suisse and key regulators are rushing to finalise a deal on a possible takeover or merger of the two Swiss banks as soon as Saturday evening, the FT reported, citing…

New YorkCNN—Eggs have gotten too expensive for Dollar Tree. Dollar Tree (DLTR), which sells most products for $1.25 and a small selection of items for $3 or $5, will stop selling eggs at stores because the company can’t make money offering them at flat prices. Egg prices have surged, fueled by short supply caused by the deadly avian flu, high production costs and egg producers increasing their own profits. Egg costs jumped 38% for producers annually in February and 55% for shoppers, although eggs are beginning to get cheaper. The average price for a dozen Grade A large eggs was…

LondonCNN—The fate of Credit Suisse could be decided in the next 24 hours after a torrid week for Switzerland’s second biggest bank. Local media reported that the Swiss cabinet had gathered for a crisis meeting at 5 p.m. local time (12 p.m. ET) Saturday at the finance ministry to discuss the bank’s future, as reports swirled of a possible takeover of the ailing bank by its biggest Swiss rival, UBS (UBS). Investors and customers pulled their money out of Credit Suisse over the past several days as turmoil swept the global banking industry following the collapse of two US lenders.…

Talks reportedly touched on the ‘Oracle of Omaha’s’ possible investment in the banking sector Senior US officials have been in talks with billionaire investor Warren Buffet, discussing the unfolding banking crisis and possible ways out of it, Bloomberg reported on Sunday, citing sources within President Joe Biden’s administration. Known as the “Oracle of Omaha,” Buffett is one of the globe’s most successful investors with a fortune worth roughly $101.6 billion and is head of the Berkshire Hathaway conglomerate, which owns dozens of successful companies, including insurer Geico, battery maker Duracell and restaurant chain Dairy Queen. According to the report, there have been…

Households will get poorer and pay more tax over the coming years, a think tank projects Real wages in the UK will not return to their 2008 level until 2026 despite an easing of inflation, the Resolution Foundation, an independent think tank, reported this week in its analysis of the new budget. According to the report, the country is on track for a “disastrous decade” of stagnant incomes and high taxes, with cuts to public services. The publication highlighted that real wages fell at an annual rate of 3.9% in January, noting that the bigger picture for wages is “one of long-term pay stagnation.” The…