Bank of England expected to raise interest rates by 50 points to post financial crisis high of four per cent January 26, 2023 The Bank of England is set to hike interest rates 50 basis points to four per cent next week, jacking them up to the highest level since the financial crisis, markets expect. City traders reckon its governor Andrew Bailey will lift borrowing costs for the tenth time in a row, something the UK central bank [...]
Reports: ‘Ceasefire’ fails as Russia continues to shell civilian exit route March 5, 2022 The ‘ceasefire’ between Russia and Ukraine to allow for civilians to escape has failed, according to reports, due to Russian forces continuing to shell the area. Russia called for the ceasefire in two areas of Ukraine, amid its invasion, to allow for humanitarian corridors, according to Russia’s Interfax Agency (RIA). The corridors were to allow [...]
Moscow airport furloughs 7,000 people as sanctions continue to bite March 21, 2022 Moscow’s Sheremetyevo Airport has furloughed around 7,000 members of its staff after West’s sanctions on Moscow following the invasion of Ukraine. The hub – which last year saw 30.9 million passengers pass through its gates – furloughed 40 per cent of its staff, cutting pay by a third, Russian media reported. General director Mikhail Vasilenko [...]
Bank of England to hike interest rates to 5.5 per cent to tame scorching inflation May 24, 2023 The Bank of England will have to hike interest rates to a peak of 5.5 per cent to tame steaming inflation, threatening to push the UK economy back to the edge of recession, markets bet today after fresh numbers showed price pressures are withstanding rate rises. Upward moves in financial markets’ expectations for peak UK [...]
Why today’s inflation numbers are much, much worse than you think May 24, 2023 Inflation in the UK has trimmed to its lowest level in over a year. It has also dropped out of the double digits for the first time since last August. Hooray! These are milestones that shouldn’t be welcomed with much joy, especially given that outside of the last 18 months or so, inflation barely budged [...]
Germany to phase out Russian oil supplies as West piles pressure on Russia April 20, 2022 Germany has announced it will stop importing Russian oil by the end of the year, as the West ramps up pressure on the Kremlin.
Glencore trading profits set to soar amid volatile commodity prices June 17, 2022 Glencore is on course to post record profits from its trading business in the first half of the year as it continues to feel the lift of volatile commodity prices.
UK’s biggest energy port confirms restrictions on Russian ships March 1, 2022 The UK's biggest energy port will not allow entry to any ships owned, registered or controlled by Russia - or flying the country's flag.
A Nato divided: UK accused of causing further Nato rift over Ukraine crisis February 13, 2022 Ben Wallace was today accused of stoking further division between Nato allies in its response to the Ukraine -Russia crisis, after invoking appeasement of Nazi Germany. The defence secretary, who today announced he would cut short a family holiday to deal with the crisis, was rebuked by Ukraine’s UK ambassador Vadym Prystaiko for saying there [...]
UK government: Kyiv still in Ukrainian hands as Russia fails to capture day one targets February 26, 2022 UK Armed Forces Minister James Heappey said this morning that Russian forces have not captured the southeastern Ukrainian city of Melitopol and armoured columns advancing on the capital Kyiv have been held up by Ukrainian resistance. Speaking to BBC’s Today programme, he said: “What stands in front of Ukraine is days and weeks of utter [...]