Entertainment IN UK 01

King Charles to pay staff £600 bonus due to cost-of-living crisis

Editorial Bureau November 13, 2022

King Charles is reportedly set to pay staff members a bonus to help with the cost-of-living crisis. King Charles is reportedly set to pay staff members a bonus to help with the cost-of-living crisis. The 73-year-old monarch – who acceded to the throne upon the death of his mother Queen

Europe World

Turkish Inflation Jumps To 85.51 Percent In October

Editorial Bureau November 3, 2022

Turkey’s annual inflation rate accelerated to 85.51 percent in October, its highest level since 1997, official data showed Thursday, as President Recep Tayyip Erdogan has defended unorthodox policies to combat a cost-of-living crisis. Central banks worldwide are raising borrowing costs in efforts to tame soaring consumer prices, but Turkey has bucked the global

Business IN UK 01 UK

Bank of England ready for biggest interest rate hike since 1989

Editorial Bureau November 3, 2022

The Bank of England is widely expected to hike its key interest rate on Thursday by the biggest amount since 1989 as it bids to cool sky-high British inflation. Some analysts, however, are predicting a rise of one percentage point, also a 33-year high. The move would mirror aggressive rate-tightening by central banks worldwide as […]

Europe IN UK 01 World

Inflation protests across Europe threaten political turmoil

Editorial Bureau October 22, 2022

 In Romania, protesters blew horns and banged drums to voice their dismay over the rising cost of living. People across France took to the streets to demand pay increases that keep pace with inflation. Czech demonstrators rallied against government handling of the energy crisis. British railway staff and German pilots held strikes to push for better pay as […]

Business IN UK 01

UK inflation accelerates to 40-year high as food prices rise

Editorial Bureau October 20, 2022

 British food prices rose at the fastest pace since 1980 last month, driving inflation back to a 40-year high and heaping pressure on the embattled government to balance the books without gutting help for the nation’s poorest residents. Food prices jumped 14.6% in the year through September, led by the soaring cost of staples such as meat, bread, […]

UK

UK inflation accelerates to 40-year-high amid food cost rise

Editorial Bureau October 19, 2022

 U.K. inflation accelerated to a 40-year high in September as the soaring cost of food squeezed household budgets. The consumer price index rose 10.1%, compared with 9.9% the previous month, the Office for National Statistics said Wednesday. The new data shows inflation returned to the July peak and is once again at the highest since […]

Business USA World

Bad situation’: Soaring U.S. dollar spreads pain worldwide

Editorial Bureau October 18, 2022

The soaring dollar in 2022 is uniquely painful, however. It is adding to global inflationary pressures at a time when prices were already soaring. The cost of living in Cairo has soared so much that security guard Mustafa Gamal sent his wife and year-old daughter to live with his parents in a village 70 miles […]

Business IN UK 01 UK

UK markets roiled after bank rules out extending help

Editorial Bureau October 13, 2022

Britain’s economy faced new shocks Wednesday after the Bank of England ruled out extending an emergency debt-buying plan – and the Conservative government appeared to blame the independent central bank for the U.K.’s economic turmoil. Prime Minister Liz Truss came under more pressure from her Conservative Party to abandon the tax-cutting economic package that sparked […]

Business UK

UK economic chaos, pound plunge hit small business

Editorial Bureau October 1, 2022

Like many small business owners in Britain, Harry Niazi hoped for government help to keep his south London fish and chip shop going in the face of rocketing energy bills and soaring inflation. But an economic stimulus plan announced last week by Prime Minister Liz Truss’ new government brought no relief — far from it. For Niazi and millions […]

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 19-country eurozone rose a record 10% in September from a […]