Warren Buffett gets permission to buy up to half of Occidental Petroleum, boosting the shares
Warren Buffett’s Berkshire Hathaway received permission to purchase up to 50% of oil giant Occidental Petroleum.
Financial News
‘You’ve got to eat’: Energy bills are squeezing businesses and people as UK costs soar
Facing soaring energy bills, rising costs and rapidly declining consumer purchasing power, small businesses across the U.K. are struggling to make ends meet.
Germany has worked hard to shore up winter gas supplies — and it’s ahead of schedule
Russia has drastically reduced natural gas supplies to Europe, with flows via the Nord Stream 1 pipeline currently operating at just 20% of agreed volumes.
UK inflation hits new 40-year high of 10.1% as food and energy price surge continues
U.K. inflation rose to another 40-year high in July as spiraling food and energy prices continued to intensify the country’s historic squeeze on households.
‘Floundering, not drowning’: Russia’s economy is withstanding sanctions onslaught — for now
Moscow is scrambling to recalibrate its economy after international sanctions disrupted trade and all but ostracized Russia from the global financial system.
Personalized coffees and prestige skincare: Consumers snap up premium products despite cost-of-living crisis
Personalized coffees, “prestige” skincare and “elevated” spreads: companies are focusing on premium products — and consumers seem to love it.
Ultra-rich fueling sales of luxury brands despite inflation and recession fears
High-end luxury brands are reporting strong sales even as retailers catering to more mainstream customers cite a pullback in consumer spending.
U.S. is ‘not going anywhere,’ Middle East envoy says, as China’s Xi expected to visit Saudi Arabia
The U.S. disputed claims that a forthcoming visit by Chinese President Xi Jinping to Saudi Arabia signals America’s waning influence in the Middle East.
U.K. economy contracts in the second quarter as cost-of-living crisis bites
The U.K. economy contracted in the second quarter of 2022, although by less than economists expected.
Beijing’s new trade restrictions on Taiwan after Pelosi’s visit are a drop in the ocean
Beijing’s trade blocks against Taiwan affect under 1% of their two-way trade. But military drills in the Taiwan Strait may delay shipments, analysts warn.