New Zealand halves public transport fares amid soaring inflation, fuel prices March 15, 2022 New Zealand has halved prices for public transport in response to soaring fuel costs sparked by the war in Ukraine. Its Prime Minister Jacinda Ardern made the call saying the “global energy crisis has quickly become acute”. However, her government has been criticised for the rising cost of living even before the war started, with [...]
EDF faces €26bn hit from price cap and nuclear power outages March 14, 2022 French state-controlled energy firm EDF has sharply downgraded its forecast this year - estimating a €26bn hit on its core profits.
Government considers extending life of EDF coal power plant March 14, 2022 The government is weighing up suspending the closure of a coal power plan overseen by EDF in West Burton.
US Federal Reserve to hike rates for first time in over three years March 14, 2022 The US Federal Reserve will hike interest rates for the first time in over three years on Wednesday as the central bank takes the first step in shifting policy from supporting the American economy through the pandemic to taming runaway inflation. Fed Chair Jerome Powell and the rest of the Federal Open Market Committee (FOMC) [...]
Oil round up: India weighs up Russian oil as Boris Johnson calls on Saudi Arabia to boost output March 14, 2022 India is considering a Russian offer to buy crude oil and other commodities at discounted prices through a rupee-rouble transaction.
Price pinch: Most Brits financially struggling or worried as inflation rises and Ukraine war rages March 14, 2022 Almost 60 per cent of Brits either struggling financially, or concerned about money in the near future, due to Russia’s war in Ukraine and the cost of living crisis. The economic effect of the conflict has exacerbated the rise in energy and food, against the backdrop of increasing inflation, which is set to exceed the [...]
Chicken boss warns food prices could rise 15 per cent this year amid war in Ukraine March 14, 2022 A food industry leader has warned prices could rise up to 15 per cent this year as a result of Russia’s invasion of Ukraine. 2 Sisters CEO Ronald Kers told the BBC’s Today programme it had already been forced to pay 50 per cent more for the chicken it receives from farms. Russia and Ukraine [...]
New business growth in London at eight year high amid concern about inflation and input costs March 14, 2022 New business activity in the capital has reached an eight-year high, but optimism remains cautious with rising inflation and pressures on input costs. There has been a resurgence in trade across the London, with growth rising from 57.3 per cent in January to a three month high of 63 per cent, in February. Growth reported [...]
Russia-Ukraine war raises spectre of UK recession March 14, 2022 Russia’s invasion of Ukraine risks plunging the UK economy into recession by propelling inflation to historic levels, according to a new report released today. Soaring food and energy prices triggered by the conflict could send the cost of living for the poorest households in the UK above 10 per cent, research published today by the [...]
UK steel firms suspend imports of Russian coal March 13, 2022 Tata Steel UK (Tata) and British Steel have both suspended imports of Russian coal, according to The Mail on Sunday. The decision follows sustained pressure from Western governments for businesses to divest from Russia, as it ramps up sanctions on the country following the invasion of Ukraine. Coal is used to heat blast furnaces up [...]