Category: Business

Russian president Vladimir Putin threatened on Thursday to halt contracts supplying Europe with a third of its gas unless they are paid in Russian currency, his strongest economic riposte so far to crushing western sanctions over his invasion of Ukraine. European governments rejected Mr Putin’s ultimatum for Friday, with the continent’s biggest recipient of Russian gas, Germany, calling it “blackmail”. Moscow did, however, offer a mechanism for buyers to obtain roubles via a Russian bank. The energy showdown has huge ramifications for Europe as US officials circle the globe to…

European buyers of Russian gas faced a deadline to start paying in roubles on Friday, while negotiations aimed at ending the five-week war were set to resume even as Ukraine braced for further attacks in the south and east. Moscow’s invasion of its neighbour has killed thousands, sent millions fleeing and galvanised the United States and allies around the world to impose punishing penalties on Russian government entities, businesses and oligarchs. Russia will respond to European Union sanctions, the RIA news agency quoted a senior foreign ministry official on Friday….

Two weeks since Russia began Europe’s biggest conflict since World War II, businesses across the continent are already in varying stages of despair at the consequences on livelihoods. A crisis of human suffering in Ukraine, whose wider economic impact prompted European Central Bank officials to quicken their withdrawal from stimulus this week, is affecting prosperity from the farmlands of Spain to the euro zone’s manufacturing core in Germany and France. Surging energy costs are the central complaint, though disrupted supply chains, sanctions and worries about a looming demand drop are…

Twitter has agreed to be acquired by Elon Musk in a deal that values the company at $44 billion, the board announced Monday afternoon. “The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter’s stockholders,” Bret Taylor, the company’s independent board chair, said in a statement. Musk, the CEO of Tesla and SpaceX, reiterated his plans to remake Twitter as a forum dedicated to promoting free speech. “Free speech is the bedrock of a functioning democracy, and Twitter is the…

Europe has a deeply uneven tech playing field. But as members of the European Parliament prepare to vote in plenary on the Digital Markets Act (DMA) on Wednesday, there’s a chance to correct this course. MEPs must sustain significant progress made within the legislation, such as with regard to ad platforms, as well as the major wins brought home by the European Commission over recent months such as the Google Shopping case and Android choice screen — demonstrating the EU’s ability to take concrete action to create a fair and…