The European Commission has published a plan to cut the European Union's dependency on Russian gas imports by two-thirds by the end of this year and end all reliance by 2030.
On Wednesday, Volkswagen announced that the company is reluctant to make any forecasts for the year of 2022 due to various uncertainties.
Adidas has revealed that the company expects to experience losses due to the stop of sales in Russia. In the meantime, a recovery is expected in the Chinese market.
At 12:00 GMT on Thursday, the Bank of England hiked its Official Bank Rate by 0.25%, increasing rates to 0.75%. The bank also published its Monetary Policy Summary. The GBP/USD currency exchange rate reacted by plummeting in one minute by more than 60 base points or 0.45%.
On Wednesday, the Indian government revealed measures that would help the country increase wheat exports and seize the market left available by Russian and Ukrainian export bans.
Credit Suisse Investment Strategist Zoltan Pozsar has revealed to Reuters that China could stop a potential commodity crisis via trading of resources in the Chinese Yuan.
The US trade deficit increased by 9.4% during January, as goods imports increased by 1.8% and exports declined by 1.5%.
On Thursday, 18:00 GMT, The US Federal Reserve hiked interest rates, as expected by 25 base points. The announcement caused an initial drop of the EUR/USD, as the US Dollar surged in value.
The Bank of America revealed this week that it has observed a major fight of investors to cash, as growth outlooks were the weakest since 2008.
This week, Toyota announced that the company would cut its production due to a shortage of semiconductors.
The CEO of Volkswagen Herbert Diess revealed this week that previous 2022 outlook of the company is set to change to the pessimistic side due to the war in Ukraine.
On Tuesday, the UK government banned exports of luxury goods to Russia and set a 35% import tariff on $1.2 billion worth of imports from Russia.
This week, the European Union approved new sanctions on Russia, which target steel, energy and defence sectors.
Reuters revealed this week that various funds have been starting to invest in defence stocks despite previously marketing themselves as sustainable and avoiding the sector.
Recent shortages in European natural gas supplies have been boosting the profits and amounts of US liquefied natural gas exports, as record volumes are being constantly reached.
Reuters has revealed that vegetable oil price analysts are expecting a decline in global consumption during the second half of 2022.
The International Energency Agency stated this month that it would release more crude oil from its reserves and create a plant that would quickly reduce global oil usage.
Analyst James Fry has revealed that he expects the price for palm oil to hit almost $2,000.00 per ton during the upcoming months.
Reuters revealed on Monday that the Russian billionaire and fertilizer and coal king Andrei Melnichenko stated that the world is about to experience a food crisis.
This week, the US Dollar hit a five year high level against the Japanese Yen, as the Bank of Japan appears to be lagging in monetary tightening, compared to the US Federal Reserve.
On Monday, Deutsche Bank announced that the company would leave the Russian markets, as the bank's CEO retraced back its previous statements due to investor pressure.
At the start of this week, crude oil prices declined, as the markets were expecting the US Federal Reserve rate hikes that were set for Wednesday.
Energy executives, who gathered at the CERAWeek energy conference this week, have revealed that they expect a reduction of demand to cause a decrease of energy prices.
This week, Uber stated that the Spanish rules that were introduced to force couriers to register as employees has led to a shortage of labour.