The US economic recovery is on track, the Federal Reserve claims. The head of the Central Bank Janet Yellen said activity is rebounding in the current quarter and will continue to expand but at a moderate pace. The Fed slashed its growth forecast for this year.
Russia cut gas supplies to Ukraine as the talks failed to reach a deal on pricing and unpaid bills. The energy row between Kyiv and Moscow will continue in the court as both sides have filed suits.
Oil prices have been creeping upwards fuelled by the situation in Iraq. Brent crude hit a nine-month high and there are fears it may rise further.
We also take a peak at Amazon’s first smartphone. The online retail giant is trying to stand out in a crowded market dominated by Apple and Samsung.
All that – in this edition of Business Weekly.