UK braces for heavy economic losses from Omicron
The UK is preparing for economic losses it could sustain due to the spread of the Omicron strain. According to preliminary estimates, the new variant of the coronavirus could cost the UK economy about $50 billion.
The UK government is expecting that the economy would lose £35 million in the first two months of 2022 alone due to Omicron. According to the Centre for Economic and Business Research (CEBR), the losses would amount to about 8.8% of the GDP, which constitutes one fifth of Brexit’s total economic impact. Up to 25% of the population could be forced to self-isolate.
Even if only 8% of British citizens get infected, the number of sick and self-isolated people would exceed the average seasonal level threefold, costing the UK economy £10.2 billion, or $13.9 billion, CEBR estimates.
Georgia Attorney General accuses Biden administration of destabilizing US energy security
In some countries, the responsibility of the president and his administration is thought to be rather limited. However, things are different in the US.Georgia's Attorney General Christopher Carr said the White House administration was responsible for destabilizing US energy security.
07:52 2022-05-19 UTC+00
Russia closely watches peaking gasoline prices in US
The Russian media reported that gasoline prices in the US were peaking. The news reporters in Russia are closely watching the situation around high fuel prices in the US while disregarding climbing prices at pumps in Russia. Notably, the country obtains the highest gasoline reserve in the world.
15:10 2022-05-18 UTC+00
Russia’s halt of gas supplies unites Europe
The EU countries decided to support supplies of natural gas within the region if Russia suspends gas imports. Earlier, the Russian government took several actions that made the EU countries forget about existing controversies and rallies. Notably, the Union has never been more united. The countries have reached a unanimous agreement on energy which is an important issue for every member state.
12:08 2022-05-18 UTC+00
Musk plans to increase Twitter’s revenue to $26.4 billion by 2028
Elon Musk, the world’s richest person, is well-known for his ambitious goals. After the acquisition of social network Twitter, he intends to increase its annual revenue to $26.4 billion by 2028. Mr Musk shared his plans for the future of the popular social network and made a presentation for investors. The billionaire intends to boost Twitter's annual revenue to $26.4 billion by 2028.
09:12 2022-05-18 UTC+00
Adidas revenues drop due to lockdowns in China
Adidas revenues slumped by 35% due to lockdowns in China, the sportswear manufacturer said.Lockdowns in major cities such as Shanghai forced the company to close some of its stores. Due to severe supply chain disruptions, the German sportswear manufacturer lost about $210 million.
16:30 2022-05-17 UTC+00
Boeing posts $1.2 billion loss in Q1
US aircraft giant Boeing Co. made huge financial losses. The company's net loss increased twice at the end of the first quarter and totaled a record $1.2 billion. Currently, Boeing’s shares are plummeting amid this shocking news.The company’s management reported a net loss of $1.242 billion in the first quarter. It is twice as much as a year ago. GAAP loss per share is $2.06 versus $0.
14:10 2022-05-17 UTC+00