The Bank of England warned the UK may already be in a recession as interest rates increased from 1.75 per cent to 2.25 per cent, the highest level in 14 years. Previously, the central bank anticipated that the economy would… Read More ›
Geopolitics
Aviation Executives Caution That The Cost Of Airline Tickets Could Increase Further
According to William Walsh, the director-general of the International Air Transport Association, the cost of airline tickets may increase due to a lack of refining capacity and the airlines’ financial situation (IATA). According to Walsh, the airline industry is “concerned”… Read More ›
Energy Crisis In Europe Could Worsen Due To Impending Liquidity Crisis: Reuters
After a dispute with Russia, Europe may have trouble obtaining oil and gas this winter. However, a new market crisis—a liquidity crunch—could make things worse by driving up prices even further. But in an effort to relieve pressure on a… Read More ›
Germany Nationalizes Gas Company Uniper Is Rushing To Secure Supplies
On Wednesday, Germany confirmed the nationalization of struggling gas importer Uniper at a cost of 8 billion euros ($7.9 billion), as it scrambled to secure power for Europe’s largest economy after Russia cut supplies. Nationalizing Germany’s largest importer of Russian… Read More ›
UN Secretary-General Calls For A Higher Tax On Fossil Fuel Profits And Declares That “Polluters Must Pay”
According to the U.N. secretary general, developed nations should impose an additional tax on the profits of fossil fuel companies, with the money going toward helping households dealing with the cost of living crisis and nations affected by climate change…. Read More ›
EV Manufacturer Xpeng From China Releases A Semi-Autonomous Driving System Competitor To Tesla’s
The Chinese start-up revealed that it was testing a function called City NGP, short for navigation guided pilot. According to Xpeng, City NGP will enable the car to carry out a “full range of driving tasks,” such as maintaining a… Read More ›
Europe Scrambles To Get Ready For This Winter’s Energy Shortage
With Russian gas flows still running at significantly reduced rates due to the Ukraine war, European governments outlined new measures on Monday to deal with potential energy shortages this winter and sped its strategy to upgrade energy networks to share… Read More ›
A Recession In 2023 Could Happen Due To Global Rate Hikes, Says The World Bank
The World Bank has warned that increases in interest rates by central banks around the globe could trigger a global recession in 2023. To combat rising prices, central banks have raised interest rates “with a degree of synchronicity not seen… Read More ›
Germany Acquires Controlling Stakes In Rosneft Oil Refineries
The German government has temporarily taken control of two subsidiaries of Russia’s energy behemoth Rosneft. The government’s action places it in charge of Rosneft’s stakes in three refineries in the country. This includes a key facility in the country’s northeast… Read More ›
Starbucks Raises Its Long-Term Financial Forecast As It Reveals Its Reinvention Strategy
Starbucks raised its long-term financial forecast on Tuesday, following the announcement of a series of changes to its cafes as part of its reinvention plan. The Seattle-based company anticipates annual earnings per share growth of 15 per cent to 20… Read More ›
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