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Economy
IMF: Keep interest rates high to avoid a repeat of the inflation crisis from 1970s
The International Monetary Fund has warned that central banks need to keep interest rates at high levels for another 12 months in order to defeat inflation.
The Fund has called on central bankers "to pay the most attention" in order to…
CBI warns UK retailers to prepare for disappointing Christmas sales
The CBI's Distributive Trades Survey found that British retailers are bracing themselves for a disappointing holiday after they registered a decline in sales of 7.4% year-on-year in November.
In the year up to November, sales volumes…
Andrew Bailey says that Britain’s outlook for growth is the ‘worst’ he’s…
Andrew Bailey said that the economic outlook is the worst of all times, and Britain is struggling to increase low levels in growth.
The Bank of England Governor expressed concern over UK future prospects, just days after the Office for…
Jamie Dimon says central bank spending is similar to heroin for the average household.
The CEO of the largest bank in the world compared the $9 trillion of cash released during the pandemic with heroin. He also suggested that the US Economy was addicted to debt.
Jamie Dimon warned that the global economy could be impacted…
Germany suspends borrowing limits for a fourth year following debt brake ruling
Germany will suspend its constitutional cap on new borrowings for the fourth consecutive year as it rushes in order to deal with fallout following a ruling from the country's highest court, which has left the spending plans of the nation in…
Jeremy Hunt reduces national insurance, but taxes are at postwar highs
Chancellor Jeremy Hunt cut personal and business taxes by £20bn as part of his Autumn Statement aimed to boost growth. However, the UK's Budget Watchdog warned that taxes in general are still increasing at a high post-war level.
The…
Bank losses mount as high-interest rates hammer eurozone, warns ECB
The European Central Bank warned that bank losses in the Eurozone will continue to rise as high rates of interest hit households, businesses and companies.
ECB Vice-President Luis de Guindos stated that lenders are beginning to…
Guy Hands: I shouldn’t have left the UK to go to Guernsey for its low tax
Guy Hands is one of Britain's most well-known investors. He has admitted that he regrets leaving the UK and becoming a tax exile. However, he warns others to not follow his example , if Labour increases taxes on private equity.
The…
According to economists, Brexit has increased UK wages.
According to economists, Brexit has increased wage growth for UK as predicted by the Leave campaign.
Senior City analysts stated that the near-record wage growth was partially driven by a crackdown against uncontrolled immigration…
Hunt’s promise to build a ‘lower tax economy’ fuels Tory hopes for cuts
Jeremy Hunt said on Sunday that he would put Britain "on a pathway to a lower tax economy" during this week's autumn statement, which has fueled expectations among Conservative MPs. He is expected to announce tax cuts for individuals and…
Cyprus Police investigates how Russian tycoon transferred £1bn the day after he was sanctioned
Insiders in the government have confirmed that the Cyprus Police force is investigating an oligarch's attempt to transfer a £1bn share of a public company, on a day when he was under EU sanctions.
The news of the involvement by the…
The Cassandra’s warning: Central banks are driving economies off a cliff
The scale of the interest rate hikes has not yet been fully felt, so optimism may be short lived.
The British economy seems to have escaped a bullet.
is not in a recession despite a massive energy price spike last winter,…
Hunt’s £10bn tax cut headroom at Autumn Statement is a significant amount, according to…
JP Morgan says that Jeremy Hunt can cut taxes by up to £10bn in the Autumn Statement next week, as the outlook of the economy improves while inflation slows down.
Allan Monks is an economist with JP Morgan. He said that he expected…
US and UK Push pledge to triple nuclear power by 2050
At the COP28 summit, the US will be leading a push to triple installed nuclear power capacities globally by 2050. This is a significant turn-around for this controversial technology in the climate negotiations.
According to a document, the…
Bets on wind energy stocks are profitable for hedge funds
Hedge funds have profited from a series well-timed bets on wind energy stocks. Some are betting that the sector will continue to suffer.
Marshall Wace, Qube Research & Technologies and other quantitative traders have all made…
Investors buy out startups with money raised by VCs
Investors are shaking the venture capital industry by raising money for start-ups who have been rejected by venture capitalists. They take advantage of economic downturns to purchase promising companies at a discounted price.
VCs have…
As the rich are squeezed by their spending, second-hand Rolex is expected to soar.
The UK's leading Rolex dealer expects a surge in the sale of second-hand luxury timepieces as inflation squeezes wealthy consumers' spending.
Watches of Switzerland, a retailer of upmarket watches, said Tuesday that used timepieces…
Turkey raises $2.5bn on the dollar bond market in its first deal since April
The first dollar bond deal since April raised $2.5bn by Turkey, as its new economic policies have attracted investors who had abandoned Turkish assets.
According to a termsheet, the country received bids of more than $7bn on Tuesday for…