Economy

Pound sinks as UK cost-of-living crisis casts doubt over BOE rate hikes

The window is certainly closing for the BOE to hike rates, as the UK economy pretty much grinded to a halt in May according to the PMI data here. Surging inflation pressures are weighing significantly on demand conditions and that is not helping to ease fears of a looming recession in the UK, one that …

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Ukraine invasion may be start of ‘third world war’, says George Soros | George Soros

Russia’s invasion of Ukraine threatens to be the “beginning of the third world war” that could spell the end of civilization, the veteran philanthropist and former financier George Soros has warned. In a ferocious attack on Vladimir Putin and China’s Xi Jinping at the World Economic Forum in Davos, Soros warned that autocratic regimes were …

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Premarket stocks: Globalization is coming undone, and that’s a huge red flag

By “fragmentation,” they are referring to a breakdown of the kind of free-wheeling, border-crossing trade and investment that’s defined the global economic order over the past three decades. It is a form of deglobalization – rebuilding fences around national or regional fiefdoms. “Fragmentation is the sense that we may be having economies protect themselves a …

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Turkish lira plunges the most since 2021 meltdown | Business and Economy News

The Turkish lira plunged the most since a rout late last year, as a steep drawdown in the central bank’s reserves and its unorthodox monetary policy left the currency increasingly exposed amid a standoff with the country’s NATO allies. Already the worst performer in emerging markets this year, the lira on Tuesday is on track …

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Welcoming Remarks by Chair Powell at the Reservation Economic Summit 2022

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Could strikes solve the cost of living crisis for Britain’s workers? | Owen Jones

T.hat the UK is a low-strike society and a low-pay economy is no freakish coincidence. In-work poverty is at a record high in large part because working days lost to strikes are at record lows. When unions were smashed by a combination of legislation, defeats and mass unemployment in the 1980s, we lost the most …

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Ruble surges as Russia considers looser capital controls | Russia-Ukraine war News

The ruble’s rebound has left it more than 30 percent stronger against the dollar than it was before Russia invaded Ukraine. The ruble’s blistering rebound picked up pace on Monday, ratcheting up pressure on Russia to ease a key capital-flow control that’s underpinned the currency’s recovery. With the gains now threatening to hurt budget revenue …

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