Money Talks

Oil prices have risen for three consecutive sessions, despite a strong dollar and fears of a global recession are dampening oil demand. Global financial markets are also spooked by concerns over interest rate hikes and extended COVID-19 lockdowns in China that are suppressing demand in the world's second largest economy. Bitcoin has also fallen below a key support level of $34,000 following the sell-off in US stocks.

For more on global markets, Exinity Group chief market analyst Han Tan joined us from Abu Dhabi.

#OilPrices #GlobalMarkets #Bitcoin

Reopening the economy after coronavirus lockdowns has benefited some companies but not all of them. Some are actually feeling the pain, in the face of growing competition. Let's take a look at what happened this week.

#Earnings #FinancialResults #StockMarket

Would you pay thousands of dollars in commission to buy a five-dollar artwork? Well, some enthusiasts did just that when the Bored Ape Yacht Club put up its latest collection of non-fungible tokens, for auction. Organisers bagged nearly $300M but as Adama Munu explains, users lost another $200M in the bidding frenzy.

#NFT #Ethereum #BoredApe

The US Federal Reserve has moved to help tame soaring inflation by announcing the sharpest rise in interest rates in over 20 years. The Fed's benchmark interest rate has been raised by half a percentage point, to a target rate range of between three-quarters of a percent and one-percent. The Bank of England also raised rates this week, raising its benchmark a quarter-point to 1%, its highest level since February 2009. While Australia's Reserve Bank stunned analysts with a 25 basis points rise to 0.35% the first increase in more than a decade. India's central bank also surprised pundits with a 40-point hike, taking its benchmark repo rate to 4.4%.

We had Massimo Massimilla who joined us from Milan. He's a partner and chief information officer of alternative strategies at Albemarle Asset Management.

#FederalReserve #InterestRates #Inflation

The war in Ukraine, coupled with rising inflation around the world, has seen food and commodity prices surge. In Japan, this economic situation has started to eat away at the consumption of one of the country's most beloved and once inexpensive foods. Ludovica Brignola has more.

#JapanInflation #FoodPrices #JapaneseEconomy

EU announces sixth round of sanctions on Russia. Brussels says it wants all member states to stop buying oil from Moscow, and they're looking to significantly scale down imports of natural gas. If approved, the sanctions will involve the phasing out of purchases of Russian crude oil within the next six months. The proposal also calls for a ban on refined oil products by the end of next year.

Meyer Resources CEO, Cornelia Meyer joined us to discuss more on the energy war.

#RussiaAttacksUkraine #EuropeanUnion #Energy

Global stock markets are in the middle of their worst stretch since the beginning of the pandemic amid fears the global economy will slip into a recession. The selloff started on Wall Street, where all major indices fell overnight. Investors have now lost some $8T in wealth from US stocks since the start of 2022.

For more on that, AJ Bell financial analyst Danni Hewson joined us from UK.

#UnitedStates #StockMarket #Nasdaq

The US Federal Reserve has raised its benchmark interest rate by half a percentage point. That's the biggest increase in more than two decades, as the American central bank tries to tame historic consumer price increases in the world's largest economy. That's not all. The Fed says it's also shrinking its balance sheet starting next month. It's selling government debt and mortgage-backed securities that it bought up during the pandemic.

We spoke with David Madden, market analyst at Equiti Capital in London. He says US Federal Reserve is avoiding an overly hawkish stance to ensure a soft landing.

#FederalReserve #InterestRates #Inflation

Poland and Sweden are hosting an international conference in Warsaw on Thursday to raise funds for war-ravaged Ukraine. A similar event held last month in the Polish capital collected nearly $10.5B. Ukraine’s allies seem prepared to do what they can to keep it afloat. But what's the extent of the damage Russia’s assault has caused on the Ukrainian economy? TRT World’s Hasan Abdullah takes a look.

#Donation #Ukraine

Proposed EU sanctions on Russia's energy sector are fuelling another rally in oil markets. The international benchmark Brent is up more than 2% to around $107 a barrel. Investors are also reacting to reports that oil exporters have been unable or unwilling to pump more crude out of the ground. A survey by Bloomberg shows the oil cartel, OPEC raised its output by just 10,000 barrels a day in April well below its pledge, 400,000 barrels.

Taha Arvas joined us from Istanbul. He is professor of finance at Bogazici University.

#OilPrices #OPEC #RussiaSanctions