ECONOMY

Buckingham Palace advertises work that pays "less than the minimum wage"

Buckingham Palace advertises work that pays “less than the minimum wage”

BUCKINGHAM Palace has been accused of paying its staff “less than the minimum wage” after a job ad published on the Royal House’s website offered a lousy hourly rate of just £ 7.97. The national minimum wage is GBP 9.50 for people aged 23 and over. By law, employers can pay less than the minimum …

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The war in Ukraine could trigger a global recession, says the president of the World Bank

The war in Ukraine could trigger a global recession, says the president of the World Bank

The US State Department says evidence of Russian war crimes in Ukraine is growing. The US, the European Union and the United Kingdom are introducing a new mechanism to help ensure accountability for abuse in Ukraine. “Now it’s hard to see how we avoid the recession,” said World Bank President David Malpass. The Swedish and …

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The government will intervene in China's bid for the chip giant

The government will intervene in China’s bid for the chip giant

Kwasi Kwarteng has ordered a thorough security check of China’s takeover of Britain’s largest microchip factory, which is the clearest sign so far that the agreement will be blocked. The trade secretary called for the sale of the Newport Wafer Fab to Nexperia under new legislation that gives it the power to intervene for national …

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Sunak reveals emergency aid due to soaring household energy bills

Sunak reveals emergency aid due to soaring household energy bills

Rishi Sunak will announce on Thursday an emergency multi-billion dollar support package for British households, which are facing spiraling domestic energy bills this autumn, partly funded by an unexpected tax on energy companies. Informed of the British Chancellor’s thinking, government support could be worth more than £ 10bn and be targeted primarily at the poorest …

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Talk to Ukraine about ports, not us, Russia says before the UN talks in Moscow

Talk to Ukraine about ports, not us, Russia says before the UN talks in Moscow

A shipyard worker watches as barley grain is mechanically poured into a 40,000-ton ship at a Ukrainian agricultural exporter’s shipping terminal in the southern Ukrainian city of Nikolaev on July 9, 2013. REUTERS / Vincent Mundy / File Photo Register now and get FREE unlimited access at Reuters.com Register UN, May 25 – Reuters shipments. …

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Rishi Sunak will announce an unexpected tax for energy companies

Rishi Sunak will push a button for a controversial unexpected tax for energy companies on Thursday as he sets out measures to alleviate the pain of rising household bills. The chancellor has confirmed that he will announce new support for people facing a cost-of-living crisis. The measures are expected to help the poorest households as …

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Fed officials have warned of the possibility of a "restrictive" policy in the fight against inflation

Fed officials have warned of the possibility of a “restrictive” policy in the fight against inflation

Federal Reserve officials have discussed the possibility of moving the US central bank to a “restrictive” policy that would better combat inflation through more aggressive interest rate increases, but feared it could undermine a strong recovery in the labor market. According to the minutes of the last Federal Free Market Committee meeting in early May, …

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