❓What Russia’s debt default means for the world

French and US lenders have the most to lose as default leaves Vladimir Putin humiliated

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telegraph.co.uk/business/2022/… 🔴Russia has defaulted on its foreign-currency sovereign debt after failing to make payments to creditors for the first time in a century.

Here are the implications for Russia and the world⬇️

Sir Richard Branson: I thought 'Christ, the whole lot is going to come crashing down'

In an exclusive interview, tycoon reveals pandemic brought his Virgin empire to its knees

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telegraph.co.uk/business/2022/… 🔴@richardbranson, until now, been reluctant to open up about the pandemic and how it was the most difficult time in his career.

It is well-documented that Virgin Atlantic, was taken to the brink of collapse.

But he now reveals that financial difficulties went much deeper

The UK's inflation nightmare is just beginning

Inflation has hit 9%, the sharpest increase since the 1980s, and worse may be to come

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telegraph.co.uk/business/2022/… 🔴Consumer prices soared 9% in the year to April, the sharpest increase in the cost of living since Margaret Thatcher was in Number 10

💰Sources of unwanted goods have grown hugely thanks to global economic trends, and for a band of young entrepreneurs it has become very big business.

Even a box filled with 50,000 faulty breast implants can be a goldmine

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telegraph.co.uk/money/consumer… ➡️In July 2021 Jack Lear founded Jobalots, which takes old stock off retailers’ hands but sells to small businesses, eBayers, market traders and charities.

Its turnover in 2022 will be £3m

🇺🇸❓Is the US going to run out of money?

⚠️Washington has just 19 days to reach a deal or face a government shutdown.

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telegraph.co.uk/business/0/us-… 🔴US Treasury Secretary Janet Yellen revealed on Tuesday that, come October 18, she will exhaust her budgetary tricks keeping the lights on, as Congress is deadlocked by another impasse over raising the debt limit

The switch to clean hydrogen energy is accelerating fast and heading for much lower costs than sceptics suppose…

So explains Ambrose Evans-Pritchard in his latest analysis (🔓 free to read until 3.30pm).

So what do you need to know?

Here's a #thread 👇 telegraph.co.uk/business/2021/… First, change is underway.

The oil "super majors" are reinventing themselves for net-zero life, deploying their engineering and offshore know-how to lock carbon underground and unlock hydrogen above ground…

~ a #thread 👇

A startling estimate has caught the eye of economists: that London's population may have plunged by 700,000 during the pandemic.

What do we know and will it spell trouble for the city's economy?

@tomelleryrees takes a closer look telegraph.co.uk/business/2021/… London's population has been hit by a double whammy: office work shifting online, and native and foreign-born workers moving out 👇

The WFH revolution has tempted employees out of the capital, with many seeking cheaper rents…

LIVE: Rishi Sunak has announced £4.6bn in grants to help firms weather the latest #lockdown.

Retail, leisure and hospitality businesses will be eligible for one-off top-up grants of up to £9,000, with a £594m discretionary fund launched for other firms telegraph.co.uk/business/2021/… The one-off top-ups will be granted to closed businesses as follows:

• £4,000 for firms with a rateable value of £15,000 or under
• £6,000 for firms with a rateable value between £15,000 and £51,000
• £9,000 for firms with a rateable value of more than £51,000

#lockdown

Take a Twitter detox over the festive break?

If you're just logging back in, fear not; we've rounded-up some of the best @telebusiness reads from the past week below…
#thread We first wrote about there being yet more pain for retailers, with the number of people visiting shops on Christmas Eve falling by 9.4% compared to the same day last year…

Read @cajuk's story on how (and why) shoppers stayed away here: telegraph.co.uk/business/2019/…
#retail