Ilon Musk and his companies Tesla Inc. and Space Exploration Technologies Corp. (SpaceX) are facing a $258 billion lawsuit over their promotion of the Dogecoin cryptocurrency, Bloomberg reports. The plaintiff, Kate Johnson, claims that Musk and his companies created a fraudulent scheme to inflate the value of Dogecoin. “Defendants falsely represented that the Dogecoin cryptocurrency […]

Oil prices will remain high in the coming years due to the redistribution of supply in global markets, not even a possible decline in demand will affect its cost, analysts at Wood Mackenzie predict. “Lower demand will ease market tensions, but the cost of oil will remain high: a new and less efficient trade equilibrium […]

The US dollar and the euro are growing on the Moscow Exchange. The ruble is getting cheaper against the bi-currency basket amid various statements by representatives of the Russian authorities during the St. Petersburg International Economic Forum (SPIEF-2022). The first deals on the US dollar were held in the range of 56.69 – 56.95 rubles. […]

As of Friday morning, the number of reported cases of coronavirus infection in the world reached 537 million 867 thousand 964, according to data from the American Johns Hopkins University. Since the virus began spreading globally, 6 million 316,783 people have died from the effects of COVID-19 infection. Countries with more than 20 million cases […]

KAMAZ’s revenue in 2022 will decline due to a reduction in production of the most marginal modern K4-K5 models in favor of the simpler K3 models and a drop in export deliveries, according to company CEO Sergey Kogogogin. Kogogin told reporters on the sidelines of the St. Petersburg International Economic Forum (SPIEF) that the Russian […]

The Russian subsidiary of Google has filed a claim for its own bankruptcy in arbitration court, and the head of the Ministry of Economic Development warned of the risk of “sliding” into a deflationary spiral – these and other important news for Friday morning, June 17, in our daily review. Google LLC, a Russian subsidiary […]

Sberbank has resumed settlements in yuan, said the head of the credit organization Herman Gref during a business breakfast at SPIEF-2022. This is reported by RBC. “I will not discuss all the details now, we really had about a week stopped settlements, now they are restored for all categories of customers,” – said Gref later, […]

Mexico’s oil production, according to preliminary data, reversed the trend in May after declining for three months and increased by 0.6% against April, to 1.616 million bpd, according to the National Hydrocarbons Commission (CNH). The country produced nearly 1.7 million bpd in the same period last year. Including condensate, production in May amounted to 1.836 […]

“Tinkoff-Bank” has set the minimum amount for SWIFT-transfers – $20,000. The changes will come into force on June 16, reported in the official Telegram channel of the bank. “We are forced to introduce temporary restrictions due to an increase in the number of checks by Western partners and a decrease in the volume of payments […]

Although bitcoin has yet to test the major psychological threshold of $20,000, the cryptocurrency remains near this area, still showing a distinctly bearish trend from a charting perspective. Pressure on BTC remains strong amid a global market sell-off and a wave of risk aversion. The Nasdaq, for example, closed more than 4% lower on Thursday, […]

At the end of trading on Friday, the U.S. stock market did not demonstrate a unified dynamics: S&P and Nasdaq indices were in the plus, Dow Jones – in the minus. Nevertheless, all three indicators recorded the 3rd week of decline in a row. The Dow Jones Industrial Average fell by 0.13% to 29888.78 points […]

Senators together with experts will this month prepare and send to Rosaviatsia a package of proposals on wider use of drones in civilian spheres, the first deputy head of the Federation Council Committee on Budget and Financial Markets, Sergei Ryabukhin, said. “Together with the expert community, we have to formulate and spacket all the proposals. […]

Oil is little changed today after a sharp drop on Friday, driven by growing market concerns that rapid policy tightening by the Federal Reserve (Fed) will trigger a recession in the US economy. The cost of August futures for Brent crude oil on the London-based ICE Futures exchange by 8:36 Moscow time was $113.05 per […]

The People’s Bank of China (PBOC, Central Bank) kept the 1-year benchmark lending rate (LPR) at 3.7% per annum. It was cut by 5 basis points last December, cut by another 10 bps in January, and then remained unchanged. The rate on 5-year loans was kept at 4.45% per annum, the NBK said. In the […]

In the week of June 13-17, the most popular (according to Investing.com Russia) financial instruments were the following: Bitcoin, Brent oil futures, Ethereum, Gazprom (MCX:GAZP) shares and EUR/USD. As for news, the most interesting for the week were the following: Binance announced a “temporary” pause in withdrawals, the Central Bank named the amount of blocked […]

“NOVATEK (MCX:NVTK) is interested in buying Finnish energy holding Fortum’s assets in Russia, the Russian company’s chairman Leonid Mikhelson said. “NOVATEK may consider buying Fortum’s Russian assets, profit allows,” Mikhelson said on the sidelines of SPIEF-2022. “We didn’t disclose the statements for the first quarter, we won’t for the second quarter either. So we can […]

The mechanism that allows the floating exchange rate to ensure its sufficient stability in the current conditions almost does not work, the government and the Central Bank need to rethink the economic mechanisms of recent years, prioritizing growth, for which the optimal ruble exchange rate is also important, said in an interview with “Interfax” First […]

According to the results of the current year, the decline of the Russian economy may be significantly less deep than in the current forecast of the Ministry of Economic Development (7.8%), said in an interview with “Interfax” First Deputy Prime Minister of the Russian Federation Andrei Belousov on the platform of the St. Petersburg International […]