Petrol below 145p per litre for first time since November 2021 – now it’s £26 cheaper to fill up a tank May 16, 2023 Average petrol prices have fallen below 145p per litre for the first time in 18 months. RAC analysis shows the average price of a litre of the fuel at UK forecourts has dropped to 144.95p. Prices have not been that low since November 2021. Diesel has reached its cheapest average price since February last year [...]
Kremlin approves sale of Volkswagen’s Russian assets for nearly £110m May 16, 2023 Russia’s government has approved a deal for Volkswagen to sell its Russian assets to autodealer group Avilon for up to $137.6m (£108.64), the Interfax news agency reported on Tuesday, citing a source. Should Volkswagen extract money from Russia while exiting, it would buck the trend of other major automakers, most of which have sold their assets [...]
Kyiv wakes up to loud explosions as Russia launches drone and missile attacks – after Zelensky’s whirlwind Europe arms visit May 16, 2023 Loud explosions sounded above Kyiv early on Tuesday as Russia launched an intense air attack on the capital using a combination of drones, cruise missiles and possible ballistic missiles. Russia’s latest attack on Kyiv was “exceptional in its density — the maximum number of attacking missiles in the shortest period of time”, said Serhii Popko, [...]
Imperial Brands: Profit up on back of ‘next generation’ tobacco alternatives May 16, 2023 Cigarette maker Imperial Brands reported a 27 per cent spike in operating profit on last year, while its foray into vaping and e-cigarettes also proved lucrative. The London-listed firm said it made £1.53bn operating profit in the six months ended 31 March, with revenue for its ‘next generation products’ offering an alternative to tobacco up [...]
UK isn’t alone in this recession merry-go-round – just look at Europe May 16, 2023 It’s worth remembering that Britain isn’t some sort of pariah in the rich world that’s undergoing a tough economic slump, which is threatening to extend the growth slow down since the 2008 financial crisis. Europe’s major economies, led by Germany, its powerhouse, are also in the teeth of a slump. Numbers out last week revealed [...]
Bitcoin and Ethereum face challenges, Liechtenstein embraces BTC, and Tether reports huge profit May 15, 2023 Data shows the price of Bitcoin started the week on a downward trend, moving from around $28,000 to a low of roughly $26,500.
Explainer: Rishi Sunak goes further with military support for Ukraine May 15, 2023 The United Kingdom has been holding a leading role in gathering Western support for Ukraine since Russia’s invasion. Ukrainian president Volodymyr Zelenskyy used to call Boris Johnson “a true friend” and praised him even in his last days as prime minister. Johnson was, indeed, the most vocal supporter of Zelenskyy, and took leadership in ensuring [...]
‘Greedflation’ not to blame for UK price surge, former rate setter claims May 15, 2023 “Greedflation” is not to blame for prices surging in the UK and instead businesses are pushing up prices in response to soaring costs, a former Bank of England rate-setter claimed today. Michael Saunders, an ex-member of the monetary policy committee – the nine strong group that sets interest rates in Britain – and now senior [...]
EU top body lifts economic growth forecast saying Europe dodged dreaded recession May 15, 2023 The European Union’s executive body has raised its economic growth forecast, saying Europe has dodged a winter recession that was feared amid an energy crisis. The outlook for the 20 countries using the euro currency improved to growth of 1.1 per cent this year from 0.9 per cent in the previous predictions in February, the [...]
‘Welcome back!’: Sunak embraces Ukraine’s Zelensky as he visits UK in bid for more help to fight Russia May 15, 2023 The UK will provide Ukraine with air defence missiles and attack drones, Downing Street has announced, as Volodymyr Zelensky met Rishi Sunak at Chequers. In the latest leg of the Ukrainian president’s tour of western allies, Mr Zelensky said the two leaders would have “substantive negotiations” on the response to Russia’s invasion. Downing Street said [...]