Oil prices flat as tight markets compete with dropping demand ahead of IEA report June 13, 2022 Oil prices have flatlined - with benchmarks being pulled from both directions by competing factors in a volatile market.
Johnson says income tax cuts will only come after inflation falls June 13, 2022 Boris Johnson has said he will only bring in promised income tax cuts after the UK’s current bout of inflation has weakened. The Prime Minister today said the government wants to cut taxes “as fast as we can”, but that the priority is taming an “inflationary spike that we need to get through right now”. Johnson [...]
Unexpected economic reversal indicates UK is ‘perilously close to a recession’ June 13, 2022 An unexpected reversal in the UK economy indicates the country is “perilously close to a recession,” according to City economists. Gross domestic product (GDP) in the UK fell 0.3 per cent in April, marking the second month in a row the economy has shrunk, according to figures published today by the Office for National Statistics [...]
Separatists say ‘no grounds’ for reprieve after two Brits sentenced to death June 13, 2022 The head of the separatist region which sentenced two Brits to death for fighting for Ukraine has said there’s “no reason” to reverse the decision. Aiden Aslin, Shaun Pinner – and Moroccan Brahim Saadoun – are facing the ultimate price for opposing Russia, after a “sham” trial found them guilty of “mercenary activities” last week. [...]
WATCH – ‘Tasty and that’s it’: Rebranded McDonald’s opens in Moscow June 13, 2022 A new era for fast food in Russia has dawned with the opening of rebranded McDonald’s under the name Vkusno & Tochka, which translates to ‘tasty and that’s it’. While the golden arches and big macs may have gone, the rebranded restaurant chain opened up its doors once again, more than three decades after McDonald’s [...]
UK economy shrinks 0.3 per cent amid recession worries June 13, 2022 The UK economy shrank in April, for the second month in a row, amid fears of a recession. Gross domestic product (GDP) declined by 0.3 per cent in April, following a 0.1 per cent drop in March, according to figures published by The Office for National Statistics on Monday morning. The drop was fuelled by a [...]
CBI: Government must act now on economy to prevent recession June 13, 2022 Urgent action is needed from the government to revive growth otherwise the UK will plunge into a recession. That’s the warning today from the Confederation of British Industry (CBI), the country’s biggest business group. Without a fresh package of measures before the summer parliamentary recess to boost business confidence, a recession will be “a very [...]
New Chinese lockdowns and inflation drives down oil prices ahead of trading this week June 12, 2022 Oil prices dipped last week, after US consumer prices rose more than expected and China imposed more restrictions on millions of people.
WTO to hold first major ministerial meeting in five years on Monday June 12, 2022 The World Trade Organisation (WTO) will hold its first ministerial meeting in five years tomorrow, with the UK’s international trade secretary saying that “freedom and fairness are now more important than ever”. WTO chief Ngozi Okonjo-Iweala will lead the meeting in Geneva with 100 trade ministers from across the world, with the organisation hoping to [...]
Biden hits out at Big Oil’s record profits as White House fails to tame inflation June 12, 2022 US President Joe Biden called on ExxonMobil to drill for more oil and pay higher taxes in a stunning broadside on the US oil industry.