somrat4030
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Feb-20, 2022, World economy and financial news and analysis, by forex forum.
The "creeping tendrils of the Kremlin" have been allowed to wrap themselves around the UK and turn London into a global money laundering capital, Keir Starmer has said, as he accused successive Conservative governments of failing to act on the threat.
In an excoriating attack on the government's stance on Russian influence within Britain, the Labour leader said that the UK needed to get "our own house in order" as it unites with the west to confront Vladimir Putin.
The warning comes as new figures obtained by the Observer show nearly 30,000 properties in England and Wales including mansions owned by the Russian elite are registered to companies and individuals based in the British Virgin Islands (BVI). Most of the owners are unknown after delays in a government pledge to end secret offshore ownership of property.
Source: theguardian.com/world
On the other hand, U.S. financial markets will close Monday for Presidents Day.
No trading will take place on the New York Stock Exchange or Nasdaq until those exchanges reopen on Tuesday following the three-day holiday weekend to celebrate George Washington's birthday. U.S. bond markets will also shut down Monday.
Most banks, including Federal Reserve Banks, will also shut their doors on Monday and the U.S. Postal Service will not deliver mail.
Foreign financial markets, however, are open Monday.
Markets became turbulent last week as investors worried about the latest developments in Ukraine, where Russia has been massing troops on the border.
The tensions are yet another concern for investors as they try to determine how the economy will react to record inflation and expected interest rate hikes from the Federal Reserve.
Elsewhere, Fears that Russia will invade Ukraine are weighing heavily on the market rally, which is already dealing with inflation and other big headwinds.
The uncertainty over what Russian President Vladimir Putin will do adds significantly to the volatility.
Belarus said Sunday that its big war games with Russia will be extended beyond today, citing unrest in parts of Eastern Ukraine. Russia had said its troops would return home at the conclusion of the massive drills on Feb. 20. But Russian forces have continued to build up in recent days.
On the other hand, Boris Johnson has warned that a war in Ukraine could be the "biggest in Europe since 1945", amid western fears that increased shelling in the Donbas region could be part of a "false-flag operation" preparing the pretext for Vladimir Putin to invade.
His comments came as Mr Putin oversaw strategic nuclear exercises involving launches of ballistic missiles, in an apparent "show of strength".
While Joe Biden has said he is "convinced" Russian forces will invade "within days", the US president said he does not believe the Kremlin is considering the use of nuclear force.
Western leaders in Munich said they wanted to continue dialogue with Russia, and – after separate phone calls with the Russian and Ukrainian presidents on Sunday – the office of France's Emmanuel Macron said both had agreed to work toward a diplomatic solution "in coming days and coming weeks".
Source: independent.co.uk/news
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