April 7, 2022
Tourism spending plunges over key holiday
Tourism spending in China plunged over this week's Qingming festival, as the world's second largest economy battles a rise in infections. The amount tourists spent during the key three-day holiday was more than 30% lower than the same time last…
April 7, 2022
Chanel restricts sales of goods to Russians abroad
French luxury giant Chanel has stopped selling its products to people who intend to take them to Russia, after shutting its stores in the country. Moscow and some customers have accused the firm of being anti-Russian, and threatened to boycott the…
April 1, 2022
Russia threatens to stop supplying gas if not paid in roubles
Russia has told "unfriendly" foreign countries they must start paying for gas in roubles or it will cut supplies. Vladimir Putin has signed a decree stating buyers "must open rouble accounts in Russian banks" from Friday. "Nobody sells us anything…
April 1, 2022
Unprecedented release from Joe Biden to reduce fuel costs
US President Joe Biden has ordered a major release of oil from America's reserves in an effort to bring down high fuel costs.The release of up to 180m barrels of oil over six months is the largest since the reserve was created in 1974. Oil prices…
March 27, 2022
The US and the EU have announced a major deal on liquified natural gas
The agreement will see the US provide the EU with extra gas, equivalent to around 10% of the gas it currently gets from Russia, by the end of the year. The bloc has already said it will cut Russian gas use in response to Russia's invasion of…
March 27, 2022
Canada stepping up to help solve Global energy crisis
Prices have soared as a result of Russian supplies being squeezed because of its invasion of Ukraine. Canada's natural resources minister said many countries are committed "to help as much as we can in terms of displacing Russian oil and gas".The…
March 22, 2022
Shell reconsidered pulling investment from oil field off Shetland
Energy giant Shell is reconsidering its recent decision to pull investment from a large new UK oil field, the BBC understands. In December, Shell said the economic case - along with possible regulatory delays - meant it was withdrawing from the…
March 21, 2022
Saudi Aramco increases investments in energy production
The state-owned oil giant Saudi Aramco plans to sharply increase the amount it invests in energy production, after it reported a doubling of profits in 2021. The firm aims to boost output significantly over the next five years.Energy prices have…
March 21, 2022
Moscow stock market reopens for some bond trading
The Moscow stock exchange has partially reopened after a nearly month-long suspension over the war in Ukraine. Only bonds issued by the Russian government can be traded as part of a phased re-opening of the market. The exchange closed hours after…
March 18, 2022
Delta warns oil increases mean higher ticket prices
Higher oil prices are set to lead to a 10% increase in air fares, according to the boss of one of the world's biggest airlines.Delta Air Lines head Ed Bastian told the BBC the final impact "really depends where fuel prices settle". Oil prices have…