Bank of England to surpass Federal Reserve and hike interest rates to 15-year high May 31, 2023 The Bank of England will have to hike interest rates to their highest level in more than 15 years to tackle sticky inflation that will stay above its target for at least another three years, a top Wall Street investment bank has warned today. Researchers at Goldman Sachs suspect businesses will carry on passing on [...]
Did pumping cash into the economy fuel inflation surge? Bank top official says claim ‘not well supported by evidence’ April 25, 2023 Claims the Bank of England caused the worst inflation surge in the UK for more than 40 years by printing money are “not well supported by the evidence,” one of its top officials said today. Ben Broadbent, a deputy governor at the Bank, hit back at critics in a speech at Britain’s oldest economic think [...]
Ofgem boss reignites calls to reform energy price cap as winter looms October 19, 2023 Ofgem boss Jonathan Brearley has doubled down on his criticisms of the energy price cap, raising doubts over its future role in the market.
Ukraine and Russian delegations to hold talks on Belarus border as Putin puts nuclear forces on high alert February 27, 2022 Delegations from the Ukrainian and Russian governments will meet on the Ukraine-Belarus border as Vladimir Putin today put his country’s nuclear deterrent forces on high alert. The move to put Russia’s nuclear forces on “special regime of duty” comes after Putin told top officials in a televised meeting that the west’s economic sanctions are “aggressive [...]
Equinor hands out a further $3bn to shareholders as high gas prices power bumper profits July 27, 2022 Equinor is returning an additional $3bn to shareholders, with the Norwegian energy giant enjoying second-quarter profits above expectations.
PM Boris Johnson calls on Fifa to expel Russia from World Cup February 28, 2022 Prime Minister Boris Johnson has added his voice to calls for football chiefs Fifa to expel Russia from this year’s men’s World Cup. Fifa announced a range of sanctions against Russia on Sunday, including ordering them to play home games on neutral ground and under the banner of the Football Union of Russia. But the [...]
EU calls on member states to cut gas usage 15 per cent amid fears Russia will turn off the taps July 20, 2022 The European Union (EU) has urged member states to cut gas usage by 15 per cent until heading into winter to stave off shortages from Russia.
BP suffers second-quarter downturn but profit still tops £2bn August 1, 2023 Weaker refining margins and falling oil and gas prices has weighed down BP's profits in the second quarter of 2023.
Black Wednesday: Russian Army close to capturing entire Donbas region while Kremlin sends hundreds of bodies to Kyiv June 8, 2022 The Kremlin claims this morning the Russian Army has taken control of 97 per cent of one of the two provinces that make up the Donbas region, as it is drawing closer to its goal of fully capturing Ukraine’s eastern industrial heartland. It also appears that Russia now occupies roughly half of Donetsk province, according [...]
Davos: Energy prices will remain above pre-Covid levels but they will be less volatile says Equinor boss January 16, 2023 The boss of one of one of the world’s largest energy companies has warned that high energy prices are here to stay. Anders Opedal, CEO of Equinor – which is bigger than BP, made his comments ahead of the Davos World Economic Forum conference in Switzerland. Opedal, who was speaking on BBC Radio 4’s Today [...]