Britain is set Thursday to unveil hefty tax rises and spending cuts at the risk of worsening a cost-of-living crisis for millions in the recession-bound economy.. The BoE says that Britain is probably already in recession after its economy shrank in the third quarter and is set to do so again in the final three months of the year.
Recent signs of easing inflation pressures and a slowing US economy could allow the central bank to dial back the pace of interest rate hikes, Federal Reserve Governor Christopher Waller said on Wednesday.. Fed Vice Chair Lael Brainard said Monday it would likely be "appropriate soon" for the US central bank to slow the pace of interest rate increases, but she agreed more moves will be needed in the fight against inflation.
Twitter's new boss Elon Musk has asked staff to choose by Thursday between being "extremely hardcore" and working intense, long hours, or losing their jobs, according to an internal memo seen by AFP. The Tesla tycoon has come under fire for radical changes at the social media company, which he bought for $44 billion late last month.. "This will mean working long hours at high intensity.
When Taylor Swift announced her first tour in five years, Jacob Landry couldn't wait to jump in line to see his favorite artist take the stage.. Landry said he was originally willing to pay around $300 to see Swift, but with fees the final price landed at a $569.
High-profile US sports stars and personalities have been named in a lawsuit over deceptive practices targeting investors who became victims of the stunning collapse of cryptocurrency exchange FTX. The celebrities helped promote the exchange, which declared bankruptcy in the United States last week in a meltdown that has reverberated across the digital currency landscape and drawn scrutiny from authorities in multiple countries.. "Some of the biggest names in sports and entertainment have either invested in FTX or been brand ambassadors for the company" and hyped the exchange on social media, the document said.
Brexit is hurting the UK economy, Bank of England officials said Wednesday, even as government leaders downplay the impact of the seismic EU withdrawal.. Bank of England governor Andrew Bailey said the central bank was sticking by its initial prognosis issued after the June 2016 referendum, when it warned that Brexit would shrink the UK economy.
Tesla tycoon Elon Musk took the stand on Wednesday as part of a trial over his $50 billion pay package as CEO of the electric car giant.. Tornetta alleges that Musk dictated his terms to directors who were not sufficiently independent from their star CEO to object to a package worth around $51 billion at recent share prices.
US retail sales jumped more than expected in October, bumped up by higher gas prices and auto sales while pointing to resilience in spending in the face of price pressures, according to government data released Wednesday.. This was driven by a 1.5 percent uptick in autos, as well as a 4.1 percent jump in sales at gasoline stations as fuel prices edged up.
Indonesia has proposed the establishment of a bloc of the world's top nickel producers similar to the oil cartel OPEC in talks with Canada, its investment minister said.. The Southeast Asian nation is the world's top nickel producer, while Canada is also a major producer of the mineral, according to United States Geological Survey data.
British inflation has jumped to a 41-year high on soaring energy and food bills in a worsening cost-of-living crisis, data showed Wednesday on the eve of a key budget.. Over the last year, gas prices have leapt by 130 percent and electricity prices by 66 percent, according to the ONS. Runaway inflation comes despite state energy support, which sought to limit annual energy bills at an average of £2,500 per year.
