Russia plans to give up its majority stake in Eurasian Development Bank, formed by six former Soviet states to promote economic integration, to reduce the risk the lender will be targeted by sanctions, according to three people with knowledge of the plan. 

Russia, which holds 65.97% in the lender, wants to reduce its combined stake with Belarus to less than half of the development institution, according to the people, who asked not to be identified because the plans are not public. Many state-backed entities in the two countries have been hit by US and European Union sanctions, including measures related to the war in Ukraine, although Eurasian Development Bank hasn’t been targeted.

More than half of Irish businesses said they experienced increased regulatory burdens because of Brexit in 2020 -- exceeding the 40% that endured global supply disruptions due to Covid-19.

Despite the extra red tape, the UK remained the most-popular location for purchasing and supplying goods, followed by the European Union, according to the Central Statistics Office’s

Hungarian inflation accelerated to the fastest in 24 years, offering no reprieve for a central bank that’s raised interest rates by the most in the European Union.

Consumer prices rose 13.7% in July from a year earlier, exceeding all estimates in a Bloomberg survey. Core inflation, which strips out volatile commodity prices, was even higher at 16.7%, pointing to broad-based inflationary pressures across the economy.

Back in the 1980s, London’s “Big Bang” revolutionized stock trading and put the City at the forefront of international financial markets. Following Britain’s departure from the European Union in 2020, the government has aspirations for another kind of “Big Bang”: jettisoning EU financial rules that it sees as holding back innovation and economic growth. A new financial services bill, published in July, isn’t on the same scale as the changes more than three decades ago, though the inspiration is similar. The legislation aims to make stock listings easier while relaxing regulations in areas such as insurance, share trading on private platforms and even crypto assets.

The aim is to improve and simplify finance rules to suit the UK’s economy, modifying EU law that was moved onto the UK statute book and was drawn up for what was a 28-country bloc of nations. The Financial Services and Markets Bill runs to more than 300 pages and is the biggest set of financial services reforms...

Senior officials are angry at how tens of billions of dollars funneled into the industry over the past decade haven’t produced the sorts of breakthroughs that emerged from previous national-level scientific endeavors, according to people familiar with top government officials’ thinking. Washington, which has steadily

Taxi fares in Tokyo may rise for the first time in 15 years, joining an extensive list of products and services facing increasing inflationary pressures in the world’s third-biggest economy.

Starting rates would increase by 19% and subsequent ticks by 20%, although both would cover slightly longer distances, according to

Abrdn lost £24.4 billion ($29.5 billion) of cash from a mandate with Lloyds that it lost in the wake of its merger in 2017, according to a

TORN was down 24% during Asian hours to $22, according to CoinGecko data. The token has lost 95% of its value since its all-time high in February 2021. 

European natural gas prices fell for a third day as fuel held in storage facilities across Europe edged above the seasonal norm.

Benchmark gas fell as much as 2.5% on Tuesday to its lowest level in over a week. The continent’s gas storage sites are 72% full, compared to the average for the previous five years of 70.1%.

The Munich-based company wrote down the value of its holdings by 908 million euros ($926 million) in the three months through June, mainly reflecting declines in the value of its equity investments. That reduced income from investments by half, and profit for the group by 31% to 768 million euros, according to a statement Tuesday.

Zaneta Olczak has been maxing out her overdraft account and skimping on essentials after her mortgage payments ballooned to about four-fifths of her monthly take-home pay.

Olczak is among half a million Poles who have flooded banks with requests to suspend mortgage payments that in cases like hers have more than doubled as interest rates rose. A new law allowing the loan holiday is the centerpiece of the Polish government’s efforts to contain a cost-of-living crisis eroding its support a year before elections.

Australia has released its first national biosecurity plan in a bid to protect its environment from pests and diseases that could devastate the agricultural sector.

The National Biosecurity Strategy synchronizes existing state and territory plans to stop potential incursions of animal diseases, as climate change, increasing trade and travel, and changing land uses heighten risks.

TikTok’s Chinese owner paid about 10 billion yuan to take full ownership of

Oil held its biggest gain in more than a week as investors monitor US-Iran nuclear talks and the outlook for demand amid an economic slowdown. 

West Texas Intermediate futures were little changed after Monday’s 2% rally saw some bullish sentiment return following a recent rout. Uncertainty around Iranian supply aided crude’s drift higher with a conclusion to the long-running nuclear talks edging nearer after European Union diplomats

Trump’s Mar-a-Lago raided. European heat wave to test infrastructure. Father of UK inflation target speaks his mind. It just got harder to escape the Spanish heat. Here’s what people are talking about. 

Federal investigators

Senior officials are angry at how tens of billions of dollars funneled into the industry over the past decade haven’t produced the sorts of breakthroughs that emerged from previous national-level scientific endeavors, according to people familiar with top government officials’ thinking. Washington, which has steadily

Sales for the year will be $2 billion to $2.3 billion, the company said Monday in a