ECONOMY

Inflation in the United Kingdom rose to 9% in April, the highest rate in 40 years

Inflation in the United Kingdom rose to 9% in April, the highest rate in 40 years

According to new official data, the inflation rate rose last month at the fastest pace in history The consumer price index inflation rate rose to nine percent in April from seven percent in March, according to the Office for National Statistics (ONS). It was the fastest measured speed since records began in 1989, and the …

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Inflation in the United Kingdom has reached a 9% high in 40 years

Inflation in the United Kingdom has reached a 9% high in 40 years

Inflation in the United Kingdom reached 9 per cent in April, the highest level in more than 40 years, after soaring gas and electricity bills have intensified the crisis in the cost of living facing households. The rate of consumer price inflation was close to the expectations of economists and is almost double the rate …

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Bank of England

Cost of living crisis: Inflation has reached a 9% high in 40 years

Inflation has reached its highest level in 40 years amid a worsening cost-of-living crisis. The rate shot at 9% last month, the highest level since comparable figures in 1982. Data released by the Office for National Statistics (ONS) showed a general increase in the prices of daily necessities and services during April – driven by …

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As inflation slows and the ruble strengthens, Russia hopes to avoid a financial crisis

As inflation slows and the ruble strengthens, Russia hopes to avoid a financial crisis

Russian President Vladimir Putin. Swimming pool Reuters Russia believes it has avoided the financial crisis as its currency rallies and economic data improve, but strategists say the figures obscure some ugly truths for Moscow. Although inflation in the country is rising sharply, there are signs that price growth is slowing and will continue to do …

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Large investors have been raising cash holdings to the highest levels since the 9/11 attacks

Large investors have been raising cash holdings to the highest levels since the 9/11 attacks

Cash holdings among global fund managers have risen to a high level since the 9/11 terrorist attacks in the United States, a shift that reflects large investors’ concerns about the deteriorating stock market outlook. Cash balances rose to an average of 6.1 percent across Bank of America’s global asset allocator portfolio, which gained the views …

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Negotiations on the merger of UniCredit and Commerzbank were derailed by the Ukrainian war

Negotiations on the merger of UniCredit and Commerzbank were derailed by the Ukrainian war

UniCredit and Commerzbank were at the height of the merger negotiations this year before the Ukrainian war reached an agreement that could set off a long-awaited wave of cross-border consolidation of European banking. Three people with direct knowledge of the matter told the Financial Times that in early 2022, UniCredit CEO Andrea Orcel planned informal …

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The US is in a hurry to catch up with China in a supercomputer race

The US is in a hurry to catch up with China in a supercomputer race

The United States is about to enter a new era of supercomputers, with a leap forward in computing power every ten years that will have a major impact on areas ranging from climate change research to nuclear weapons testing. But the national boasting usually caused by such breakthroughs is likely to be dampened. China has …

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British companies warn Boris Johnson against reducing tariffs on "living expenses".

British companies warn Boris Johnson against reducing tariffs on “living expenses”.

LONDON – Business groups warn the Johnson government to cut food import tariffs in an effort to alleviate the UK’s cost-of-living crisis. Two trade associations argued that such a move would only have a “negligible” impact on soaring household accounts, while reducing the impact of British negotiations on trade agreements and potentially jeopardizing food supplies. …

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China is redirecting anti-poverty funding to testing at Covid as the crisis deepens

China is redirecting anti-poverty funding to testing at Covid as the crisis deepens

China’s local governments with limited cash have been forced to divert funds from poverty alleviation and infrastructure to fund mass coronavirus testing as President Xi Jinping’s zero-covered Covid policy causes growing financial tensions. An official in Northeast Jilin said the authorities had allocated a “significant” portion of state-sponsored poverty reduction funds to purchase PCR tests …

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