How Putin 'destroyed' the ruble and brought Russia to the brink of default
CNN
Russia has banned its citizens from buying US dollars, completing the isolation of an economy that once had ambitions to join the global club of financial powers.
As recently as the 2008 global financial crisis, Russian President Vladimir Putin and his lieutenants had promoted the ruble as a potential alternative to the US dollar, arguing that it should be an integral part of the global financial system. Russia would become one of the world's five biggest economies, they claimed.
Putin's quest to dominate his neighbors, starting with his assault on Georgia in 2008, and continuing with the annexation of Crimea in 2014 and last month's invasion of Ukraine, has shredded what remained of the authoritarian leader's economic dreams.
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The US Federal Trade Commission asked a federal court in Seattle on Wednesday to delay a September trial in its case alleging Amazon misled consumers over its Prime subscription service, citing “severe resource shortfalls in terms of both money and personnel.”
There may be some cracks forming in the egg market.
Ruth Marcus, who recently resigned as a Washington Post columnist after four decades, said she parted ways with the paper following a spiked opinion piece on the paper’s billionaire owner because her job is to tell readers “what I think, not what Jeff Bezos thinks I should think.”
CNN is tracking price trends for various household staples each month as new factors threaten to increase costs.
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American consumers – and their wallets – are the engine of the economy. But they’re now showing the strain of inflation, President Donald Trump’s tariffs and a stock market plunge.
Elon Musk has secured a major win in India by signing two back-to-back deals to bring SpaceX’s Starlink satellite internet services to the country.
President Donald Trump imposed a sweeping 25% tariff on all steel and aluminum imported into the United States early Wednesday, a move that threatens to drive up prices on a broad range of consumer and industrial goods for Americans.