Russian oil giant Lukoil had big dreams for its U.S. gas stations. The invasion of Ukraine could spell the end.
Lukoil, which observers said had maintained some independence from Putin, is now caught in a high-stakes economic battle due to the Russian invasion of Ukraine.
By Todd C. Frankel and Yeganeh TorbatiMarch 13, 2022Beyond the pump: Record gas prices are pushing up everyday costs, dampening economic recovery
Shipping, transportation, and even lawn care and mobile dog grooming services are getting more expensive.
By Abha BhattaraiMarch 12, 2022E.U. and British antitrust officials probe advertising deal between Google and Facebook
A roundup of business news from around the world.
March 11, 2022Biden, European allies move to strip Russia of trade status
The president calls the actions a “crushing blow" to the Russian economy, which already has been pummeled by financial sanctions.
By David J. LynchMarch 11, 2022Oil price shock jolts global recovery as economic impact of Russia’s invasion spreads
Europe to bear greatest costs while inflation fight in the United States gets tougher.
By David J. LynchMarch 11, 2022Russia considers nationalizing Western businesses that have closed over Ukraine invasion
Foreign companies that have left Russia could see their businesses nationalized under legislation being considered there.
By Jeanne WhalenMarch 10, 2022Prices climbed 7.9% in February compared with last year, with war in Ukraine likely to push inflation even higher
Economists warn that Thursday’s higher inflation data for February doesn't yet capture the strain on energy markets caused by Russia’s invasion.
By Rachel SiegelMarch 10, 2022- BusinessPerspective
I was hired for a remote job, but my boss now wants me in the office
If your boss hired you to work remotely but wants you to relocate, you can take away his leverage by being ready and willing to quit.
By Karla L. MillerMarch 10, 2022 Russia’s ‘imminent’ default will have harsh ripple effects. Here’s why.
Moscow’s credit has been reduced to junk status as international financial sanctions cut off much of the nation’s revenue.
By Jacob Bogage and Adela SulimanMarch 9, 20224.3 million people quit their jobs in January
“We saw hiring, quits and openings all shoot up in 2021 as the economy grew very fast,” said Guy Berger, principal economist at LinkedIn.
By Abha BhattaraiMarch 9, 2022Russia bars purchases of dollars by citizens in sign of hard-currency pinch
Russia's central bank early Wednesday barred Russian citizens from buying dollars and limited the amount of hard currency they can withdraw from their foreign-denominated bank accounts.
By Jeanne WhalenMarch 8, 2022Shell promises to phase out Russian oil, apologizes for past purchases
Shell CEO Ben van Beurden said there were “incredibly difficult trade-offs that must be made during the war in Ukraine.”
By Taylor Telford, Aaron Gregg and Adela SulimanMarch 8, 2022Calls for U.S. to ban Russian oil gain momentum despite inflation concerns
An increasing number of Republicans and Democrats are calling for a U.S. import ban to punish President Vladimir Putin.
By Steven Zeitchik, Yasmeen Abutaleb and Annie LinskeyMarch 6, 2022Zelensky pleads with U.S. lawmakers for help with air war against Russia
In a Zoom call attended by more than 280 U.S. lawmakers, the Ukrainian president described an “urgent need” for more military support and humanitarian aid.
By Todd C. Frankel and Mike DeBonisMarch 5, 2022Russia’s Ukraine invasion could be a global economic ‘game changer’
Soaring gas prices and rapidly shifting trade decisions suggest that events of the past two weeks will be felt everywhere for years.
By David J. LynchMarch 5, 2022U.S. adds 678,000 jobs in February, with labor market nearing full recovery from pandemic
Hiring picked up in January with some 678,000 new jobs as the pandemic eased.
By Abha Bhattarai and Andrew Van DamMarch 4, 2022U.S. gas prices are rising at fastest pace ever as Russia intensifies invasion of Ukraine, AAA says
Gas prices increased 26 cents over the past week, data shows, as world power consider sanctions on Russian energy sector.
By Jacob BogageMarch 4, 2022Microsoft suspends sales in Russia in major blow to Russian economy
Microsoft is suspending all new sales of products and services in Russia, in a major addition to the flood of companies cutting ties over the invasion of Ukraine.
By Jeanne Whalen and Rachel LermanMarch 4, 2022Russia’s business ties to the West took 30 years to build and one week to shatter
In the decades since the Soviet Union collapsed, Russia forged important trade and investment ties. With alarming speed, events of the past week have shattered those links.
By Jeanne WhalenMarch 4, 2022- Perspective
Russian oligarchs don’t have the power — or inclination — to stop Putin
This is no longer the 1990s, when wealthy business owners dominated the Russian government. Business elites who pledged their loyalty to Putin have been allowed to keep their wealth (until now). But they have no political power.
By Anatol LievenMarch 4, 2022