Tag: Counting
FTX collapse: What's next for the cryptocurrency industry? | Counting the Cost
FTX has been considered one of the safest and most reliable exchanges of a freewheeling cryptocurrency industry, which wants to bring tokens into the financial mainstream. But Sam Bankman-Fried’s $32bn empire collapsed almost overnight, highlighting the extreme volatility of the virtual currencies. The downfall has sent shockwaves across the market and raised questions over its viability. He has apologised, but that has not helped more…
Who's winning the energy battle between Russia and the West? | Counting the Cost
An all-out energy war between Russia and the West threatens to deepen Europe’s energy crisis, putting pressure on governments to make interventions in the energy market to rein in soaring prices. But it also puts the Kremlin’s revenues at risk and is meant to stem the flow of funds into its war coffers. Moscow’s earnings from energy exports are expected to rise by 38 percent…
What's the cost of Europe's shift back to coal? | Counting the Cost
The European Union is trying to save gas for winter as Russian energy flows become increasingly uncertain. But the bloc has to burn something else to fill the gap, and it is looking to coal, the most polluting fossil fuel, despite a plan to cut carbon emissions in the coming years. The International Energy Agency says the EU’s coal consumption is set to rise by…
Can Biden's Saudi trip help ease record-high energy prices? | Counting the Cost
From Israel to the occupied West Bank and Saudi Arabia, Joe Biden’s first visit to the Middle East comes at a critical time for the US president, whose approval rating is at less than 40 percent in the run-up to mid-term elections. The Ukraine war has set off a global energy crisis, and Biden wants the kingdom to pump more oil, to bring down prices…
G7 leaders inflict more economic pain on Russia over Ukraine | Counting the Cost
Germany’s chancellor has promised to keep the cost of running Russia’s war in Ukraine high for President Putin. At a meeting of the Group of Seven (G7) rich democracies this week, leaders discussed imposing price caps on Russian crude, a move critics say is “ambitious”. Some of the topics discussed were the war in Ukraine, rising energy prices, food security, investment, and technology. Multibillion-dollar pledges…
The world bank warns of a global recession, so is it inevitable? | Counting the Cost
The cost of almost everything from food to fertilisers is soaring, causing consumers to spend less. As governments aim to bring down the cost of living, containing inflation without pushing economies into a slowdown is difficult. Meanwhile, Russia’s war in Ukraine and pandemic disruptions continue to constrain supply chains, darkening the outlook for the months ahead. So, should we be ready for a global recession?…