Euro inflation slumps faster than expected to 6.1 per cent leaving UK further afield June 1, 2023 Inflation in Europe is falling much faster than expected, further marking Britain out as suffering the toughest price pressures in the developed world. The rate of price increases in the 20 countries using the euro dropped to 6.1 per cent last month, down from seven per cent in the previous month, according to eurostat. That [...]
Let’s be honest, we shouldn’t take those predicting the AI doomsday too seriously June 1, 2023 If you believe AI will destroy humanity, you're probably wrong. The real challenge is to regulate artificial intelligence safely without stifling innovation and growth, writes Matthew Lesh
Explainer: Why Erdoğan refuses to let Sweden join NATO May 31, 2023 This is a big week in foreign policy. Rishi Sunak is preparing for his trip to Moldova tomorrow, to attend the European Political Community Summit, where he hopes to talk about migration and support for Ukraine. Yet with the newly re-elected Recep Tayyip Erdoğan also invited, there’s another issue that might overshadow the Summit, something [...]
Putin ally Medvedev says UK officials are ‘legitimate targets’ due to Ukraine support May 31, 2023 British public officials are a “legitimate military target” because of the UK’s support for Ukraine, former Russian president Dmitry Medvedev has warned. Mr Medvedev, deputy chairman of Vladimir Putin’s security council, claimed the UK’s support for Kyiv amounted to an “undeclared war” against Russia. His comments came after Foreign Secretary James Cleverly said Ukraine had [...]
Bank of England to surpass Federal Reserve and hike interest rates to 15-year high May 31, 2023 The Bank of England will have to hike interest rates to their highest level in more than 15 years to tackle sticky inflation that will stay above its target for at least another three years, a top Wall Street investment bank has warned today. Researchers at Goldman Sachs suspect businesses will carry on passing on [...]
Rosneft’s quarterly profits rise to $4bn as Russian state energy giant hikes output May 31, 2023 The first-quarter profit of Russia's largest oil producer Rosneft rose by 45.5 per cent from the previous three months to $4bn.
The west forgot about Crimea. It cannot forget about the rest of Ukraine May 31, 2023 It is perhaps easy to become fatigued by news of the war in Ukraine. It is now fifteen months since Vladimir Putin’s tanks rolled over the frontier for what they thought would be a straightforward victory, an imperial conquest more akin to 1940 or the Napoleonic era than the 21st century. Through sheer bloody-mindedness as [...]
Inflation to top Bank of England target until at least 2026, Goldman Sachs warn May 30, 2023 Inflation in the UK is set to top the Bank of England’s target for at least the next three years, likely forcing governor Andrew Bailey and co to tip the country into recession via yet more interest rate rises, a top Wall Street bank has warned. Researchers at Goldman Sachs late last night hiked their [...]
Oil prices wane as US races to secure deal over debt ceiling May 30, 2023 Both major oil benchmarks dipped this morning as fears over the sustainability of the US debt ceiling made investors more cautious.
Ukraine launches biggest ever drone raid on Moscow in Kyiv retaliation May 30, 2023 Ukraine launched one of its biggest drone attacks on Moscow on Tuesday, according to Russia, whose defence ministry said all were destroyed approaching the city. There were no reports of deaths. Moscow Mayor Sergei Sobyanin said two people were injured, one of whom was hospitalised, in the early morning attack. The residents of several parts [...]