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UK is heading for longest recession in a century, Bank of England warns
The Bank of England issued a gloomy warning about the future of the British economy as it hiked interest rates to 3%, the biggest single rate rise in three decades. The Bank of England has warned the country could face its longest recession on record as it confirmed the biggest interest
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Interest rates set to rise to levels not seen since 2008 when Bank of England makes announcement at 12pm
The Bank of England is also set to release long-term inflation forecasts, which are expected to show that the cost of living next year will be much higher than its target of 2%. A rise of 0.75 percentage points is anticipated, the biggest since 1992 – pushing the base rate
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Fed raises interest rate by 75 basis points to 4%
Jerome Powell, chairman of the Fed, announced this Wednesday another 75 basis point increase in the dollar interest rate, but hinted that the rise in interest rates may be close to an end. The US Federal Reserve (Fed) again raised the benchmark dollar rate by 75 basis points to the
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King Charles coin design: Royal Mint begins production of first coins for circulation featuring the King
Production of the first coins of the King for circulation has started at the Royal Mint, beginning the transition from Queen Elizabeth II to her son’s portrait on the nation’s coinage. The move represents the biggest change to UK coinage since decimalisation, with a memorial 50 pence in honour of
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ECB makes major new interest rate hike in bid to combat inflation
FRANKFURT — The European Central Bank raised interest rates by 75 basis points and signaled further tightening ahead as it fights record inflation that is rapidly eroding consumer spending power across the region. “The interest rate on the main refinancing operations and the interest rates on the marginal lending facility
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Canada positioned to become a key producer of lithium
Canaccord highlighted a growing number of active development and exploration projects which could see Canada emerge as an important lithium producing nation in the medium-longer term. Canada is positioned to capitalize on an abundance of lithium deposits and emerge as a key producer of the battery metal to global markets,
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US economy will soon start losing 175,000 jobs a month, Bank of America warns
The Federal Reserve’s fight to squash inflation will cause the US economy to start losing tens of thousands of jobs a month beginning early next year, Bank of America warns. Although the jobs market remained surprisingly strong in September, the Fed is working hard to change that by aggressively raising interest
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North Sea oil and gas exploration ‘good for the environment’
Plans to allow oil and gas exploration in the North Sea will be “good for the environment”, the UK’s climate minister has said. Graham Stuart, MP for Beverley and Holderness, said the move was “entirely compatible” with climate targets. More than 100 licences could be issued for the coast off
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Investigation of Nord Stream gas pipeline leak site finds evidence of detonations, Swedish police say
A crime scene investigation of the Nord Stream 1 and 2 gas pipelines from Russia to Europe found evidence of detonations, strengthening suspicions of “gross sabotage,” Sweden’s Security Service said on Thursday. Swedish and Danish authorities have been investigating four leaks after the pipelines, which link Russia and Germany via
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Royal family announced the death of Queen Elizabeth II
The English Royal Family announced this Thursday that Elizabeth II, Queen of the United Kingdom and head of the Commonwealth, has died. His son succeeds him, Prince Carlos. In the morning, Buckingham Palace issued a statement indicating that the monarch had been placed under medical supervision. “, said a short
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UK port workers join railway workers in strike wave
  Workers will be on strike at the port of Felixstowe, which handles around four million containers a year. Nearly 2,000 workers at the UK’s biggest container port began an eight-day strike over wages on Sunday after prices rose 10.1%, the most in more than 40 years. Workers, including crane
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Bank of England raises interest rates by 50 basis points, biggest rise since 1995
  With inflation close to 10%, the Bank of England decided to raise interest rates by 50 basis points, the biggest rise in 27 years. Warns that the UK will enter recession at the end of the year. The Bank of England raised interest rates by 50 basis points this
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