Newsletter Jul 21, 2022

UK inflation hits 9.4%, bolstering bets on big BoE rate hike

Surging petrol and food prices last month pushed British inflation to its highest rate in 40 years, according to official figures that bolstered the chances of a rare half percentage-point Bank of England interest rate hike next month.

Britain counts cost of historic heatwave as 13 die

At least 13 people have died in Britain while swimming during a spell of record-breaking hot weather that sparked wildfires, damaged train tracks and triggered warnings that efforts to tackle climate change needed to be stepped up.

You Might Like

European stocks retreat, euro dips while US shares rise

UK annual inflation hit a new 40-year high at 9.4 percent in June on surging fuel and food prices.

Race to become UK PM down to final two: Rishi Sunak and Liz Truss

Former finance minister Rishi Sunak and foreign secretary Liz Truss will battle it out to become Britain's next prime minister after they won the final lawmaker vote, setting up the last stage of the contest to replace Boris Johnson.

Rishi Sunak faces image and tax challenges in UK PM run-off

Rishi Sunak will claim credit for steering Britain's economy through the COVID-19 crash but must overcome accusations that he is too rich and too willing to raise taxes to win the race to be the next prime minister.

In final two, foreign minister Liz Truss burnishes her tough image

If it's not the pictures of her standing atop a tank in a nod to Conservative leader Margaret Thatcher, it's the meme-defining moment when she vented her anger over cheese imports into Britain that made Liz Truss something of a household name.

Climate activists block UK's busiest motorway after deadly heatwave

The extreme heat caused huge transport disruption and sparked the same kind of wildfires seen in Europe in recent years.

Royal Mail Says UK Business Losing One Million Pounds A Day Amid Union Clash

Royal Mail is losing one million pounds a day, the British post and parcel delivery firm said on Wednesday, as it struggles to cut costs as inflation-hit consumers cut back on online shopping and postal workers threaten to strike.

Secret hearing over Prince Philip's will was wrong, UK court told

It was wrong to hold a secret hearing which decided that the will of Prince Philip, Queen Elizabeth's late husband, should be sealed and kept private for 90 years, lawyers for a newspaper told the Court of Appeal in London on Wednesday.

Wall Street Set To Open Lower After Strong Gains

U.S. stock indexes were set for a lower open on Wednesday after sharp gains on Wall Street in the previous session as investors parsed through earnings reports from companies for impact of spiraling inflation on growth.

Apple Outlines Health Technology Strategy In New Report

Apple Inc on Wednesday released a report outlining a two-pronged strategy in digital health markets, courting consumers with health and fitness features on one hand while engaging with traditional healthcare systems on the other.

Volkswagen To Develop New Semiconductor With STMicro Amid Chip Crunch

Germany's Volkswagen and Franco-Italian chipmaker STMicroelectronics will co-develop a new semiconductor amid a global microchip crunch that has strained the car industry's supply chain, the companies said on Wednesday.

Polar Bears Scavenge On Garbage To Cope With Climate Change

Hungry polar bears are turning to garbage dumps to fill their stomachs as their icy habitat disappears.

Europe Counts Cost Of Heatwave As French Fires Come Under Control

Europe counts cost of heatwave as French fires come under control

Heatwave Britain hits 40.3°C

For a new temperature record to be accepted, it normally originates only from a Met Office approved site.

IBTimes will always protect your security and privacy. Please read our detailed Privacy Policy. Please do not reply to this email. Click here to adjust your notification preferences or unsubscribe.Â