Russia's invasion of Ukraine has sent energy prices surging, but the oil-rich Gulf monarchies have so far resisted Western pressure to raise output, prioritizing their own strategic and economic interests.
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Russian oil giant Lukoil on Thursday called for an immediate halt to fighting in Ukraine, one of the first major domestic firms to speak out against Moscow's invasion of its pro-Western neighbor.
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From his shock detention to an audacious escape from Japan hidden in an audio-equipment box, the rollercoaster saga of former Nissan boss Carlos Ghosn has grabbed headlines worldwide.
As Ghosn's aide Greg Kelly is handed a six-month suspended jail sentence in Tokyo, here is a run-down of how events unfolded:
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Former Nissan executive Greg Kelly was handed a six-month suspended sentence on Thursday by a Tokyo court over allegations he helped disgraced auto tycoon Carlos Ghosn attempt to conceal income.
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A senior delegation from the U.S. Department of the Treasury concluded a three-day visit to Lebanon on Wednesday.
The delegation met with members of the Lebanese government, civil society, and the banking sector to reiterate the U.S. government’s “commitment to stand with the Lebanese people during this time of economic turmoil,” the Treasury said in a statement.
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The leaders of OPEC and its oil-producing allies are deciding Wednesday how much oil to release while Russia's invasion of Ukraine rattles markets, reshapes alliances, kills civilians and sends the price of crude skyrocketing.
The OPEC+ coalition of oil producers — made up of OPEC members led by Saudi Arabia and non-cartel members led by Russia — is weighing whether to increase oil production by 400,000 barrels per day in April.
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Moscow's war on Ukraine and the ferocious financial backlash it's unleashed are not only inflicting an economic catastrophe on President Vladimir Putin's Russia. The repercussions are also menacing the global economy, shaking financial markets and making life more perilous for everyone from Uzbek migrant workers to European consumers to hungry Yemeni families.
Even before Putin's troops invaded Ukraine, the global economy was straining under a range of burdens: Surging inflation. Tangled supply chains. Tumbling stock prices.
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U.S. markets were headed for declines on Tuesday after talks between Russia and Ukraine aimed at ending the war yielded only an agreement to meet again.
On Wall Street, futures for both the S&P 500 and the Dow industrials slipped 0.7%. Major European indices fell sharply while Asian shares were mostly higher. Oil prices continue to spike and U.S. benchmark crude eclipsed $100 for the first time since the summer of 2014.
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Cash-strapped Egypt increased transit fees Tuesday for ships passing through the Suez Canal, one of the world's most crucial waterways, with hikes of up to 10%, officials said.
The Suez Canal Authority said on its website the increases were "in line with the significant growth in global trade" and cited the canal's "development and enhancement of the transit service."
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It's a globalized world — a planet stitched together by intricate supply chains, banking, sports and countless other threads of deep connection. Until it isn't.
Exhibit A: Russia this week, abruptly cut off from the larger world on multiple fronts. Its ability to bank internationally has been curtailed. Its participation in major international sports is crumbling. Its planes are restricted over Europe. Its vodka may no longer be welcome in multiple U.S. states. Even Switzerland, whose very name is shorthand for neutrality, is carefully turning its back on Vladimir Putin.
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