UK energy bills to rise by 80% in October as regulator announces hike
The government has been criticised for failing to provide enough support to shield consumers from “catastrophic” price rises.
Financial News
Sony hikes the price of its PlayStation 5 console because of soaring inflation
Sony on Thursday raised the recommended retail price of its PlayStation 5 games console in several international markets citing the global economic environment.
Iran’s pivot to China and Russia means a nuclear deal would now look very different, professor says
A new version of the Iran nuclear deal would be very different from the original, said Djavad Salehi-Isfahani, an economics professor at Virginia Tech.
Euro trades at two-decade low against the dollar. And some think it could slide much further
The euro fell to a two-decade low of 0.9903 against the U.S. dollar and strategists predict further euro depreciation in the coming months.
Brits face substantial energy bill increases. Here’s what’s happening and what help could be coming
Policy moves to tackle a looming crisis are being debated but not enacted as the nation waits for the Conservative Party to choose the new prime minister.
Wages are now the hottest inflation signal. Here’s what that means for the Federal Reserve and the markets
Inflation is hottest in the job market as consumer and producer price data eases, and the Fed will be watching wage growth closely as rate hikes continue.
Warren Buffett gets permission to buy up to half of Occidental Petroleum, boosting the shares
Warren Buffett’s Berkshire Hathaway received permission to purchase up to 50% of oil giant Occidental Petroleum.
‘You’ve got to eat’: Energy bills are squeezing businesses and people as UK costs soar
Facing soaring energy bills, rising costs and rapidly declining consumer purchasing power, small businesses across the U.K. are struggling to make ends meet.
Germany has worked hard to shore up winter gas supplies — and it’s ahead of schedule
Russia has drastically reduced natural gas supplies to Europe, with flows via the Nord Stream 1 pipeline currently operating at just 20% of agreed volumes.
UK inflation hits new 40-year high of 10.1% as food and energy price surge continues
U.K. inflation rose to another 40-year high in July as spiraling food and energy prices continued to intensify the country’s historic squeeze on households.