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Economy
The global economy is headed for turbulent times
What's happening with the global economy? The global economy can be described by comparing it to a plane that will either have a soft or hard landing.
It may be more appropriate to say to fasten your seatbelts, and brace yourself to…
China to reduce lending rates as the economic recovery drags
China will likely make its biggest cut to two of the core lending rates this year as policymakers and the banks are under increasing pressure to reverse the slowing economy and boost the flagging demand.
At its monthly meeting, the…
Hunt’s tax-cutting dreams are shattered as bond yields soar to 2008 levels
The government borrowing costs are at their highest level since 2008. This is a blow for Jeremy Hunt’s hopes to cut taxes before the elections.
Investors bet on rates to go even higher in order to curb inflation.
Gilt yields now…
UK corporate profitability remains stable despite ‘greedflation’ claims
Official data shows that the profitability of UK non-financial private companies has remained unchanged in the first quarter 2023. This suggests that higher corporate profit margins do not push up inflation.
The Office for National…
Argentina’s Milei plans to balance its budget in a few months, says a consultant
Javier Milei, the libertarian economist leading Argentina's presidential race, would slash government spending to balance the budget within months of taking office but wants to avoid mass public sector lay-offs, an economic adviser planning…
Vladimir Putin to meet on currency control after the rouble’s fall
Two people with knowledge of the situation said that President Vladimir Putin would discuss the need to tighten currency controls on Wednesday, after an unprecedented 3.5 percent rate hike failed to stop the rouble from falling.
The…
Inflation concerns fuelled by record UK wages
Official figures show that UK wages increased at a much faster pace than anticipated and at an annual rate record in the three-month period ending June. These numbers are likely to confirm the Bank of England’s concern over inflationary…
Creator of Brics blasts ‘ridiculous idea’ for common currency
Former Goldman Sachs economist, who coined Brics, has called "ridiculous", the idea that the grouping of emerging nations could develop its own currency, as Brazil, Russia India, China, and South Africa are preparing to discuss the…
Argentina struggles to prevent economic collapse following shock primary victory
Argentina is under increasing pressure to devalue again its currency as it struggles to prevent economic collapse in advance of the October elections, following a shock victory by a radical rightwing presidential candidate at its primary…
YouGov is threatening to leave London for New York, as the City exodus continues
YouGov, a British pollster, has threatened to move its listing from London to New York in the wake of a mass exodus from the London Stock Exchange.
The market research company, founded by Stephan Shakespeare and former Chancellor…
The Russian Central Bank will hold an emergency rate meeting due to the rouble’s depreciation
The Russian central bank will meet on Tuesday to discuss the interest rates after the rouble dropped below Rbs100 per dollar. This sparked a debate among policymakers about how to handle the economic fallout of the war in Ukraine.
The…
John Lewis Chief plots to buy now and pay later service for middle class squeezed
The CEO of John Lewis and Waitrose is looking to launch a service that allows customers to buy now and pay later , as middle-class consumers are being squeezed more by the rising cost of living.
Nish Kankiwala is the new chief…
China sends finance specialists to the region to address debt
Beijing has made one of the biggest top-down attempts in recent years to deal with the debts accrued by local governments. This is a sign that authorities are growing increasingly concerned about the threat to financial stability in the…
The UK economy accelerates in the second quarter
The UK economy grew faster than expected during the second quarter, as consumers were more resilient to rising interest rates.
The gross domestic product increased by 0.2 percent in the three months from April to the end of June compared…
The UK is once again plagued by’stagflation
A think tank warned that the UK economy suffers from a "British Disease" of 1970s style, which means inflation won't fall to Bank of England target of 2 percent until 2027.
The National Institute of Economic and Social Research said that…
Chief economist of the BoE warns that food inflation is unlikely to drop soon
The days of cheap foods may be gone, said the Bank of England chief economist on Monday. He warned that prices at supermarkets would continue to rise much faster than inflation by the end of this year.
In its latest report on monetary…
Four policy shocks are hitting the British economy at once
The monetary death marches continue. The fourteenth increase in interest rates by the Bank of England is unscientific and unnecessary. It also underestimates powerful global forces that are washing over these islands.
It is pushing…
Fitch’s decision to downgrade US debt has a political rationale
The gods of finance can sometimes deliver choreography which will make future historians laugh. One such moment occurred in America this week.
Jack Smith, the Special Counsel for the United States announced on Tuesday a new indictment of…