Newsletter Aug 25, 2022
UK port strike threatens to deepen supply chain and price woes

UK workers are striking in vast numbers as runaway inflation erodes wages at a record pace and is set to plunge the economy into recession.


 
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London bus drivers latest UK workers to strike over pay

Around 1,600 drivers from the London United bus company will stage the stoppage on Sunday and Monday over the traditional end-of-summer long weekend, the union Unite said.


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Global stocks in for a chilly winter, strategists say - Reuters poll

It will be a chilly winter for global stocks, according to analysts in a Reuters poll who cut year-end predictions for most major indices from three months ago and warned the risks to that already-dull outlook were skewed to the downside.

Twitter staff exodus accelerates amid Musk battle, whistleblower complaint

Twitter Inc is facing more employee departures, company executives told staff on Wednesday, as leaders sought to address multiple challenges, including whistleblower allegations and a legal battle with billionaire Elon Musk.

UK economy slows as factories report output slump

Britain's private sector slowed to a crawl in August as factory output fell and the larger services sector eked out only a modest expansion, adding to signs that recession may be looming, a closely watched survey showed on Tuesday.

Euro slips towards two-decade low as high gas prices adds to growth fears

The euro was within a whisker of a two-decade low on Wednesday amid growing recession fears fuelled by a possible energy supply crunch, while the U.S.

Private label ousting big brands as cost of living crisis grows

Tomasz Luksza, who took over his father's Polish confectionary business just over a decade ago, has a problem he's not unhappy about: European supermarkets want more gummy bears and chocolate-covered marshmallows than he can make.

Tesla to urge dismissal of California Agency's race bias lawsuit

Tesla Inc's lawyers on Wednesday will urge a California judge to throw out a lawsuit by the state's civil rights agency accusing the electric car maker of widespread race discrimination at an assembly plant.

Biden announces nearly $3 bn in Ukraine weapons aid

President Joe Biden announced nearly $3 billion in military aid to Kyiv on Wednesday.

If interest rates are raised high enough to kill off inflation, how bad will the consequences be?

The Bank of England has raised its benchmark rate from 0.1% to 1.75%, whereas until the financial crisis of 2008 it ranged from 5% to 15%.

Real Madrid and rivals await Champions League draw in Istanbul

Istanbul was supposed to host the final in 2020 and again in 2021, but on each occasion, UEFA moved the game to Portugal due to pandemic-related restrictions.

Twenty-five years since Paris death, Princess Diana still captivates

A quarter of a century after her death at the age of just 36, Princess Diana remains a source of fascination to people around the world and her fate still casts a shadow over the British royals.

Kobe Bryant widow awarded $16 million over crash site photos

Vanessa Bryant was awarded $16 million by a jury on Wednesday over the sharing of photos of human remains at the helicopter crash site where her husband, their 13-year-old daughter Gianna and seven others were killed in 2020.

 
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