Business UK

Inflation hits record 10% in 19 EU countries using euro

Editorial Bureau September 30, 2022

Inflation in the European countries using the euro currency has broken into double digits as prices for electricity and natural gas soar, signaling a looming winter recession for one of the globe’s major economies as higher prices undermine consumers’ spending power. Consumer prices in the

Business IN UK 01

Rail businesses urge government to harness the private sector to deliver growth

Editorial Bureau September 30, 2022

New report sets out how private operators can support Government ambitions for growth and net zero. Giving operators more commercial freedom can improve customer experience and secure hundreds of millions of pounds in revenue to the Treasury. Operators call for the right long-term reforms to help stabilise industry finances by growing revenue, rejecting nationalisation as

Business IN UK 01 UK

£1.5 billion government funding to improve energy efficiency

Editorial Bureau September 29, 2022

Government funding of up to £1.5bn will see around 130,000 social housing and low-income properties in England upgraded  Upgrades will help households save around £400 to £700 a year on their energy bills at current prices and funding could support around 19,000 green energy sector jobs Funding follows government’s direct and decisive intervention ahead of 1

Asia Business World

China’s yuan slides to 14-year low after US rate hikes

Editorial Bureau September 28, 2022

China’s yuan fell to a 14-year low against the dollar Wednesday despite central bank efforts to stem the slide after U.S. interest rate hikes prompted traders to convert money into dollars in search of higher returns. A weaker yuan helps Chinese exporters by making their goods cheaper abroad, but it encourages capital to flow out […]

Asia Business World

ADB to devote $14B to help ease food crisis in Asia-Pacific

Editorial Bureau September 27, 2022

The ADB said Tuesday it will devote at least $14 billion through 2025 to help ease a worsening food crisis in the Asia-Pacific. The development lender said it plans a comprehensive program of support to help the 1.1 billion people in the region who lack healthy diets due to poverty and soaring food prices. The […]

Business Finance IN UK 01 UK

Bank of England fails to reassure markets after pound plunge

Editorial Bureau September 27, 2022

The Bank of England sought to reassure financial markets after the British pound touched an all-time low against the U.S. dollar Monday, but its entreaty fell flat for investors concerned about a sweeping package of tax cuts that further jolted a faltering economy that the government’s plan was meant to prop up. The central bank […]

Business Europe World

Lights out, ovens off: Europe preps for winter energy crisis

Editorial Bureau September 26, 2022

As Europe heads into winter in the throes of an energy crisis, offices are getting chillier. Statues and historic buildings are going dark. Bakers who can’t afford to heat their ovens are talking about giving up, while fruit and vegetable growers face letting greenhouses stand idle. In poorer eastern Europe, people are stocking up on […]

Business Tech

Amazon to hold holiday shopping event in October

Editorial Bureau September 26, 2022

Amazon said Monday that next month it will hold a second Prime Day-like shopping event, making it the latest major retailer to offer holiday deals earlier this year to entice cautious consumers struggling with tighter budgets. During the Oct. 11-12 event, Amazon Prime members will get early access to discounted items. The “Prime Early Access […]

Business UK

Pound hits record low versus dollar, markets drop on recession fears

Editorial Bureau September 26, 2022

The pound hit a record low against the dollar Monday on surging fears about the UK economy after the government unveiled a huge tax-cutting budget. The selloff came as most equity markets across Asia fell again owing to a growing expectation that central bank interest rate hikes to fight runaway inflation would lead to deep […]

Asia Business Finance World

Hong Kong replaced by Singapore as Asia’s top finance centre

Editorial Bureau September 23, 2022

Hong Kong has lost its crown as Asia’s premier finance centre to Singapore in a global ranking list where New York and London maintained their number one and two spots. Singapore jumped three places to third in the twice-a-year Global Financial Centres Index (GFCI) which assesses 119 cities around the world and was published late […]