The Ukrainian government says it is sending more and more grain through the Danube, according to Handelsblatt. Just yesterday, eleven ships were heading to the Ukrainian Danube ports of Ismajil, Reni and Ust-Dunaisk – more than at any time since the start of the war six months ago, the Ministry of Infrastructure announced today. According […]
Tag: International financial news
Telegraph: Tras considers reducing UK VAT to 15%
Liz Truss is considering cutting Britain’s VAT sales tax by up to 5 percentage points across the board, the Telegraph has reported, a move that may fend off criticism that she has no plan to tackle the country’s cost-of-living crisis . The potential drop to 15%, flagged in a newspaper that has strongly backed its […]
Bloomberg: Drought from China to Iowa to pressure food prices
Drought is shrinking crops from the US farm belt to China’s Yangtze River basin, raising fears of global hunger and weighing on the inflation outlook. The latest warning sign comes from the American Midwest, where corn has dried out so much that ears are missing and soybean pods are fewer and smaller than usual. The […]
Czech central banker Zamrazilova warns against big wage increases
Czech central bank deputy governor Eva Zamrazilova warned that excessive wage demands would further fuel inflation, which is already the highest in three decades, and could force policymakers to repeat interest rate hikes. . Zamrazilova criticized a recent government deal to raise wages by 10 percent for some public sector employees, saying it could prompt […]
Switzerland: Group of politicians starts collecting signatures to keep nuclear power
A group of Swiss politicians has formed ‘Stop Blackouts’ which will begin collecting signatures for a petition to review the country’s energy policy to ensure adequate energy supplies and keep nuclear power in the mix. Switzerland plans to shut down its five nuclear reactors following a decision taken in 2017 due to safety concerns following […]
Germany: ‘Bell’ Lindner on electricity prices
German Finance Minister Christian Lindner said the government must tackle soaring electricity prices “with the utmost urgency”, as a leading German economist warned of a “gigantic shock” threatening Europe’s biggest economy. In an interview with newspaper Bild am Sonntag cited by Bloomberg, Lindner said swift action was needed, otherwise “inflation will be driven more and […]
Bloomberg: Brits prefer cheaper all-inclusive trips abroad
British families used to holiday in the Canary Islands instead of Cornwall in search of warmer weather. Now, this is also becoming a money-saving strategy to escape rising food and fuel prices back home. Half of Brits see an all-inclusive holiday abroad as a cheaper alternative to a holiday in the UK, according to On […]
Bloomberg: The energy crisis that permeates the markets leaves a trail of losers
The energy crisis that has sent inflation skyrocketing around the world is worsening every week, leaving stockbrokers with a challenge to find where to put their money, Bloomberg reports. The nightmare scenario that has unfolded this year has already taken its toll on stocks, which suffered a disastrous first half. A rally over the summer […]
The US labor market is strengthening amid resilient demand
The latest US jobs report ahead of the Federal Reserve’s September policy meeting showed that employers continued to add jobs at a healthy – if more modest – pace in August, underscoring the length and strength of the market of work, reports Bloomberg. Friday’s jobs report is expected to show an increase of 300,000 jobs […]
Olli Wren: Time for action for the ECB
The European Central Bank needs to act strongly to curb inflation and maintain expectations of future price growth as the weak euro exacerbates rising energy costs, according to Olli Rehn. It is important for policymakers to continue with a “consistent and smooth” normalization of monetary policy, Rehn, who heads Finland’s central bank, told Bloomberg Television […]