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Economy
The debt servicing costs of the EU budget are expected to double by 2024
According to the budget chief of the Commission, on Wednesday, interest rates will increase and the EU's debt costs will double by 2024. This raises concerns about the ability of the EU to deal with future financial shocks.
In recent…
Construction PMI: Drop in housebuilding ‘will chill spine’ of UK economy
The pace of housebuilding declined last month to its lowest level since the first Covid locking down three years earlier.
According to the latest Construction Purchasing Managers' Index from S&P Global & the Chartered Institute…
Spain is worried about German threats to boycott “drought strawberries”
International repercussions of domestic conflict over illegal wells used by farmers .A clash over water use in Spain’s parched agricultural sector risks tarnishing one of the country’s most recognisable exports in European supermarkets:…
Former F1 owner enters race to purchase Center Parcs
CVC Capital Partners is ready to make a bid for Center Parcs. CVC Capital Partners was the former owner Formula One.
Private equity firm based in Luxembourg is one of the buyers who are considering the takeover of a British family resort…
Why UK inflation is so high and hard to bring down
The post-pandemic inflation burst has subsided in many parts of the developed world. However, Britain still suffers from the highest rate of price increases among the Group of Seven economies. Bank of England responded by raising interest…
Ukraine’s rapid rebuilding will be in Europe’s interest
Planning for the post-war period should be centered on making the country the hub of the green transition in the continent .Foremost on the minds of Ukrainians and their friends is the need to win the war. But to delay preparations for what…
Boiler manufacturers are upset about UK heat pump target
In a new dispute over the speed of the transition to lower-carbon heating, boiler manufacturers are fighting back against UK government attempts to force them into rapidly making thousands more heat pump.
From next year, the government…
The new Turkish Finance Minister pledges a return to rational economic policy
Mehmet Simsek announces intention to abandon unorthodox strategy which has fueled crisis Turkey’s new finance minister has vowed to return to “rational” policies after years in which President Recep Tayyip Erdoğan’s unconventional strategy…
Oxford Nuclear Fusion wins funding from Washington
The United States government has funded a technology company in the UK to move forward with its plan to build a nuclear power plant and develop abundant clean energy.
Tokamak Energy has its headquarters in Oxford, and Sir David Harding,…
Rishi Sunak warns against a’subsidy war’ between the US and EU on cars
A leading think tank has warned Rishi Sunak against entering into a "subsidy war" with the US or EU to try and defend the British auto industry.
The UK and Spain are locked in a battle over subsidies as the Prime Minister tries to…
Panmure Gordon predicts UK inflation will fall closer to US and EU levels.
Panmure Gordon says that the UK's inflation rate is not as high as recent data would have us believe.
Simon French, Panmure’s Chief Economist, said that while both headline and core prices are higher than expected in the UK and among the…
Asda pays £2.3bn to EG Group for UK petrol stations
Asda's owners have confirmed that the supermarket group has acquired the UK and Ireland petrol-forecourt business from EG Group, for £2.3 billion.
Mohsin and Zuber Issa and TDR Capital (a London-based private equity company) said that…
Industry data shows that UK retail prices have reached a record high.
According to the latest sector data, UK shop prices rose at their highest rate in 18 years, even though food prices grew marginally slower.
The British Retail Consortium said that the cost of items in shops rose by 9 percent annually in…
SVB’s collapse is one thing; Credit Suisse’s is quite another
Anyone could be affected by a bank run if it is possible. The 1996 slasher movie Scream Three rules are set out to help you survive a horror film: You can't have sex or drink alcohol, do drugs, and under no circumstances can you say, "I'll…
Biden’s green subsidies are speeding up the UK car industry’s decline
Washington, in the northeast of England, is proud to have US connections. George Washington's ancestral house is located in the centre of the village. The family coat of arms welcomes visitors. Even the local golf course bears the name of…
Turkey’s Lira is weakening as economists warn about ‘unsustainable policies’
Analysts warned that Recep Tayyip Erdoan's reelection would put the country's $900bn economy to the test.
Several economists believe that Erdogan’s policies low interest rates and emergency currency measures cannot continue, as Turkey's…
SSE announces investment plans of £40bn as profits soar
SSE has reported a near-doubling of annual profits as its gas-fired power plants and gas storage sites cashed in on high and volatile prices during the energy crisis.
The FTSE 100 energy group denied that it was making windfall profits…
Ministers examine reshaping the pensions lifeboat funds to boost business
Ministers are looking at a radical reform of the fund protecting savers from company pension plans. This could transform it into an investment vehicle capable of investing tens or hundreds of millions of pounds in UK companies.
According…