Western officials need banks’ help to keep money flowing to Russia

When western firms fled Russia after its invasion of Ukraine, banks and insurers joined the exodus. They feared prosecution in the criminal courts for sanctions violations and in the court of public opinion for filling Vladimir Putin’s war chest. The West’s economic shock-and-awe campaign has largely isolated Russia from the international financial system. Listen to […]

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Where the coming housing crunch will be most painful

A housing crash sent the global economy into recession between 2007 and 2009. But three countries—Australia, Canada and Sweden—cruised through the commotion. Even as property prices plummeted elsewhere, all three recorded double-digit growth. Some of this was good fortune. A commodities boom propped up the economies of Australia and Canada, for instance. But smart policy […]

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Wall Street rises as Fed signals slowdown in rate hikes

Representative Image Wall Street’s main indexes ended Wednesday with solid gains after the Federal Reserve’s November meeting minutes showed interest rate hikes may slow soon. A “substantial majority” of policymakers agreed it would “likely soon be appropriate” to slow the pace of interest rate hikes, the minutes showed. “What equity markets needed to see for the recent […]

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How crypto goes to zero

If everyone stopped using it. That, in five words, is how crypto would go to zero. Still, the journey is more interesting than the destination. The death of ftx, an exchange declared bankrupt on November 11th after a spectacular blow-up, will encourage some people to turn their attention elsewhere. What would have to happen for […]

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Big emerging-market companies worry investors

Since september, when a botched budget in Britain roiled markets enough to threaten giant pension funds, investors have been looking for other vulnerabilities that might cause markets to break. Emerging economies are a prime candidate. Historically, high American interest rates and a soaring dollar have triggered financial instability across the developing world. A few unlucky […]

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Wall Street ends down after Target outlook, Micron supply cut

Representative Image Wall Street’s main indexes ended lower on Wednesday as a grim outlook from Target spurred fresh concerns about retailers heading into the crucial holiday season, while semiconductor shares slid after Micron’s supply cut. Shares of Target Corp (TGT.N) tumbled 13.1% after the big-box retailer forecast a surprise drop in holiday-quarter sales. Retail stocks slumped broadly, including declines of […]

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