Oil price slide and sanctions 'cost Russia $140bn'

The falling oil price is costing Russia up to $100bn a year, while Western sanctions have hit the country by $40bn, its finance minister has said.

Emerging markets output growth hits three-month high in May: HSBC survey

(Reuters) - Business activity in emerging markets expanded at the fastest rate in three months in May, although growth was weak compared with developed markets and an index of future expectations hit a new low, a survey showed on Friday.