Europe

Witnesses reported that fuel stations in the Russian-held Crimean Peninsula?were?out of petrol on Thursday as the escalating Ukrainian campaign to cut off supply lines into the peninsula?. A? A witness in Sevastopol said that most petrol stations in the city were out of fuel. Supplies are struggling to keep up even with the recent rationing. Another said that in Yevpatoriya's resort town, there was a queue of people waiting outside the only petrol station. Ukraine has intensified drone strikes against supply lines for the peninsula that Russia captured from Kyiv in 2014. Local authorities have implemented fuel rationing, and some...

Investors said that the turmoil on the world markets over the past week showed the economic outlook was now on a razor's edge. There were equal odds for an AI boom to boost growth, or oil shocks from the U.S. - Iran war to send stocks and bonds into a tailspin. The global equities market hit its highest point on June 3 and then experienced their worst day since October the next day. This week, they have been reversing direction constantly to match President Donald Trump's volatile remarks about Iran. Florian Ielpo, head of multi-asset and macro portfolio management at...

Investors said that the turmoil on the world markets over the past week showed the economic outlook was 'now on a razor edge. There are equal odds for an AI boom to lift growth, or for oil shocks resulting from the U.S. - Iran war to send stocks and bonds into a tailspin. Global equities reached an all-time high on June 3 and then suffered their worst day in October the next day. This week, they have spent a lot of time reversing direction constantly to match U.S. president Donald Trump's volatile remarks about Iran as well as rapidly changing...

Local authorities said that Ukrainian drones had hit a 'historic museum' in Sevastopol, in Russia-annexed Crimea. They also reduced the number nighttime trains as a result of the intensifying air strikes. The museum commemorates 1853-1856 Crimea War, which was fought between the Russian Empire (including the Ottoman Empire) and a coalition. In that war, Russia lost. Mikhail Razvozhayev - Sevastopol’s Russian-installed Governor – said via Telegram that the roof of the museum was on fire. He didn't provide any further details on the damage, or if there were casualties. "The enemy will be punished for this sacrilege!" Razvozhayev wrote in...

Local authorities said on Wednesday that Ukrainian drones had hit a historical museum in Sevastopol, in Russia-annexed Crimea. They also reduced the number?nighttime train services in response to intensifying air strikes. The museum is dedicated to the 1853-1856 Crimea War, which was fought between the Russian Empire and a coalition including the Ottoman Empire. In that war, Russia lost. Mikhail Razvozhayev said that the roof of the museum was damaged on Telegram. He didn't provide any details on the damage, or if there were casualties. "The enemy will be held accountable for this sacrilege!" Razvozhayev wrote in his early Wednesday...

These are the most popular?stories from the Wall Street Journal. These?stories have not been?verified' and we cannot?guarantee? their?accuracy. Israel and Iran traded missile strikes Monday, after the U.S. brokered a ceasefire in early April. This was their first direct attack since the truce went into effect. - Nvidia is ?teaming up with South Korea's SK Telecom and Naver ?to build gigawatt-scale artificial-intelligence cloud infrastructure in Asia. - Intesa Sanpaolo said ?it has launched a EUR30.66 billion ($35.33 ?billion) unsolicited cash-and-share ?takeover bid for Monte dei Paschi di Siena. Roche has announced that it has signed an exclusive licensing agreement and...

Iran's ambassador in Moscow was quoted on Monday as saying that the Strait of Hormuz would be open, but with new?conditions set by Iran? and?Oman?, including a?transit fee. The U.S. and Israeli war?on Iran 'has largely reduced oil flows through the strait. Before the conflict, one-fifth the world's crude oil passed through the strait. Recently, several tankers left the Gulf. However, oil and LNG flows remain severely constrained. In an interview published Monday, Ambassador Kazem Jalali said that the strait would be opened, but new conditions would be set by the Iranians and Omanis. We understand that Iran, Oman and...

Oil prices rose by more than $2 per barrel on Monday, after Israel launched new strikes against Lebanon on Sunday despite an agreement between the two nations. This shattered hopes of a ceasefire and the restart of crude flow through the Strait of Hormuz. As of 0013 GMT U.S. crude oil futures were up by $2.10 or 2.32% at $92.64 per barrel, while Brent crude rose by $2.33 or 2.5% to $95.42 per barrel. This erased a majority of Friday's losses, when prices fell on the hope of a deescalation of the U.S. - Iran conflict. The latest strikes seemed...

The U.S. House of Representatives approved legislation Thursday that would provide aid to Ukraine and impose sanctions on Russia. This is the latest indication that Republicans are willing to 'defy their party leaders' and retaliate against President Donald Trump. The House passed the Ukraine Support Act?226?to 195?, after months of waiting. The House voted?226?to 195 for the Ukraine Support Act, which had been pending on the floor of Congress for months. Thursday, Democrats and 18 Republicans joined forces with an independent who usually votes along side them to pass the legislation. This was the latest indication of a break in...

The U.S. House of Representatives approved legislation Thursday that would provide 'aid to Ukraine' and impose new Russian sanctions. This is the latest indication that Republicans are willing defy their party leaders and push back against President Donald Trump. The House passed the Ukraine Support Act 226-195. It had been pending for months. A few Republicans signed a petition with Democrats to force a vote. On Thursday, Democrats and 18 Republicans joined forces with one independent who usually votes along side them to pass the bill. This was the latest indication of a rift in the nearly unanimous support that...

The oil prices were little changed Friday, after a sharp drop in the previous session. Brent crude futures dropped 21 cents or 0.22% to $95.24 per barrel at 0003 GMT, after falling 2.84% the previous session. U.S. West Texas Intermediate crude oil was $92.94 per barrel, down by 10 cents or 0.11% after a loss of 3.1% on Thursday. The two contracts are expected to record their first weekly gains in three weeks. WTI is up a whopping 6% after fighting flared in the Middle East, as U.S. - Iran war peace negotiations dragged on, while traffic in 'the Strait...

Russian-controlled Crimea tightened rationing on?fuel supplies Thursday. It suspended all cash sales of gasoline, and issued a 'new coupon' to buy it. The peninsula is grappling with a shortage of fuel linked to Ukrainian drone attacks. In recent days, drivers in the Crimea region, which was annexed from Ukraine by Russia in 2014, faced long queues at gas stations after Kyiv's attacks restricted supplies from adjacent Russian-controlled territory in southeast Ukraine. Sergei Aksyonov - the Kremlin's appointed head of Crimea - announced the new measures, which tighten restrictions on petrol sales imposed a month ago. He said that the sale...

A senior South Korean adviser to the president said that the European Union would give maximum consideration to South Korea’s request for favorable?treatment of their?steelmakers, under the new import regime. The request was made by the South Korean president Lee Jae Myung during a Wednesday meeting in Brussels with Antonio Costa, President of the European Council and Ursula von der Leyen, President of European Commission. Kim Yong Beom, a presidential policy advisor, told a press briefing that Lee had asked the EU to "consider" South Korea's status as a strategic?partner and a?partner in a free trade agreement. Kim said that...

Investors?bought? the metal at a bargain price on Thursday as they awaited a crucial U.S. Inflation Report that could influence Federal Reserve policy. Gold spot rose 0.7% by 0741 GMT to $4,103.74 an ounce, after having fallen as low as $4,022.09 per ounce on November 21, earlier in the day. U.S. gold futures for August were down 0.2% to $4,125.10. Matt Simpson, senior analyst at StoneX, said: "With prices hurtling toward $4,000, there's an obvious level of support which could encourage bears to make a quick profit, or tempt battered bulls off the sidelines." The U.S. Dollar Index failed to...

The government is seeking input from the industry regarding a new steel tariff regime. This comes after the users of metals warned that the scheme would be very costly for their businesses. As other countries in the European Union and Britain, they are concerned about the "dumping" high subsidised steel from countries like China. In March, Britain proposed a reduction in its tariff-free allowance for imported steel, and a doubling of the tariff on imports that exceeded this allowance. This new trade measure, which is due to take effect on July 1, was warmly welcomed by British steel producers. The...

Director?general of mines for Ivory Coast, the West African country, said that gold production is expected to increase from 59.33 tonnes in 2025 to 62 metric tonnes in '2026 as existing?mines expand their operations. Seydoucoulibaly predicted that production would increase to 63 tonnes in 2027, and to around 69 tonnes in 2028. There are currently 14 gold mines operating in the world's leading cocoa producer. He said that the number of gold mines in operation will increase to 15 within two years, with the Kone mine coming online, and 17 in three, when the Doropo mine and the?Tanda Mine come...

On Wednesday, the Russian state auction website showed that they had failed to sell 67.2% of the gold producer Uzhuralzoloto which it had taken 'from its owner' last year. According to the website, the auction was declared null and void because no bidders had been cleared to participate. Also, no deposit had yet been paid for the single bid made by businessman Mikhail Pimulin. The Russian federal property management agency has yet to announce whether or not it will be holding another auction. Last July, a Russian 'court' ruled that the UGC majority stake owned by the businessman Konstantin Strukov...

The central bank's strict monetary policy was criticized by some of Russia's wealthiest businessmen on Friday. One said that it had created "a trap" for the Russian economy. This is the most public criticism of the financial authorities?since a?rate increase in 2024. The economic growth will slow down to 0.4% this year from 4.9% last year due to high rates, an overvalued ruble, and Western sanctions. Government measures are unlikely to have a significant impact on growth. Since 2022, most of Russia's billionaires supported President Vladimir Putin in his war against Ukraine despite Western sanctions that prevented them from accessing...

Russian financial authorities created a "trap" for the Russian economy with their tight monetary policy, forcing it into stagnation. This was their most public criticism since an interest rate increase in 2024. The economic?growth will slow down to 0.4% in this year, from?4.9% last year, due to high interest rates, an overvalued ruble, and Western sanctions. Government's proposed measures won't provide much of a boost. Since 2022, most of Russia's billionaires supported President Vladimir Putin in his war in Ukraine despite Western sanctions that prevented them from accessing their luxury yachts and properties in Europe and North America. The war...

A recent Indian official investigation of gold company Rajesh exports has alleged the company overstated the revenue of its Swiss refinery unit Valcambi by $159 billion. This is a figure that's never been seen in any of the country's previous accounting investigations. The extent of alleged misreporting released by the'markets regulator' on Wednesday has raised questions about how investors and analysts could have missed it, especially since India's state run insurance giant LIC owned 11% of the firm. Rajesh Exports denies any wrongdoing. In a Friday exchange statement, Rajesh Exports said that "the main point misinterpreted in regard to revenues...

Gold prices dropped on Friday and were set to?have a weekly loss? as tensions in Middle?East dampened hopes for a U.S. - Iran peace deal amid fears of rising inflation and rate hikes. As of 0718 GMT, spot gold was down by 0.3%, at $4,461.28 an ounce. It has dropped about 1.6% this week. U.S. Gold Futures for August Delivery fell by 0.4% to $4487.90. Israel has said that it will not withdraw its troops from Lebanon, despite the rejection of a ceasefire by Hezbollah's?militia. This undermines President Donald Trump’s efforts to stop fighting in Lebanon to reach a peace...

Gold prices dropped on Friday and were set to?for an overall loss? as tensions in Middle 'East tempered?hopes of a U.S. - Iran peace deal amid fears about rising inflation and rate hikes. As of 0548 GMT, spot gold was down by 0.6%, at $4,445.51 an ounce. The price of gold has dropped about 2% in the last week. U.S. Gold Futures for August Delivery fell by 0.7% to $4471.70. Israel has said that it will not withdraw its troops from Lebanon, despite the rejection of a ceasefire by Hezbollah's?militia. This undermines President Donald Trump’s efforts to stop fighting in...

Gold prices dropped on Friday and were set to suffer a weekly loss as tensions in the Middle East dampened expectations for a U.S. Iran peace deal, amid fears of rising inflation rates and interest rate hikes. As of 0402 GMT, spot gold was down by 0.7%, at $4,442.94 an ounce. It is down about 2% this week. U.S. Gold Futures for August Delivery?fell by 0.8% to $4469.10. Hezbollah, a militia backed by Iran, rejected a ceasefire in Lebanon. Israel also said it would not withdraw its troops from Lebanon. This undermined the efforts of U.S. president Donald Trump to...

Gold prices dropped on Friday and were set to suffer a weekly loss as tensions in the Middle East tempered hopes of a U.S. Iran peace deal, amid fears about rising inflation rates and interest rate hikes. As of 0225 GMT, spot gold was down by 0.5%, at $4,452.20 an ounce. It is down about 1.8% this week. U.S. Gold Futures for August Delivery fell?0.6% at $4,478.50. Hezbollah, a militia backed by Iran, rejected a ceasefire in Lebanon. Israel also said it would not withdraw its troops from Lebanon. This undermined the efforts of U.S. president Donald Trump to stop...