Newsletter Sep 23, 2022

Britain unveils anti-inflation budget as recession looms

Britain on Wednesday announced a six-month plan to pay about half of energy bills for businesses.

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BoE's Haskel sees tension with government fiscal expansion

Bank of England policymaker Jonathan Haskel said the UK central bank was in a difficult position as the government's expansionary fiscal policy appeared to place it at odds with the BoE's efforts to cool inflation.

UK government lifts gas fracking ban in England

The UK had in 2019 called a halt to fracking -- or hydraulic fracturing which is used to release hydrocarbons locked deep underground -- due to fears it could trigger earthquakes.

EU watchdog proposes emergency brake for energy markets

A temporary brake on gas and electricity derivatives when prices spike could improve how energy markets operate, the European Union's securities watchdog proposed on Thursday, along with more fundamental changes over time.

Europe throws billions at energy crisis

Almost every week now, European governments are announcing emergency measures to protect households and businesses from the energy crisis stemming from Russia's war in Ukraine.

European shares fall as hawkish Fed stokes slowdown fears

European shares fell on Thursday, with tech stocks sliding after the U.S.

Bank of England raises rates to 2.25%, despite likely recession

The Bank of England raised its key interest rate to 2.25% from 1.75% on Thursday and said it would continue to "respond forcefully, as necessary" to inflation, despite the economy entering recession.

Chipmaker Qualcomm says automotive future business expands to $30 billion

U.S. chip designer Qualcomm Inc on Thursday said its automotive business "pipeline" increased to $30 billion, up more than $10 billion since its third quarter results were announced in late July.

Europe's vegetable farmers warn of shortages as energy crisis bites

Emmanuel Lefebvre produces thousands of tonnes of endives on his farm in northern France annually, but this year he may abandon his crop because of the crippling energy costs required to freeze the harvested bulbs.

Carrefour management increases offer in wage talks with unions

France's biggest retailer Carrefour has increased its offer in the third round of wage talks with unions, suggesting a 2.5% pay hike from November this year, a company spokesperson said on Thursday.

Japan to lift Covid restrictions on foreign tourists from October

Speaking at the New York Stock Exchange, Prime Minister Fumio Kishida said the pandemic had interrupted the free flow of people, goods and capital that had helped the nation flourish.

Fraudsters likely stole $45.6 billion from U.S. unemployment insurance program in COVID

Fraudsters likely stole $45.6 billion from the United States' unemployment insurance program during the COVID-19 pandemic by applying tactics like using Social Security numbers of deceased individuals, a federal watchdog said on Thursday.

Ahead of World Cup, influencer 'Mr Q' lifts veil on Qatar

The first World Cup in an Arab nation has put a spotlight on Qatar's treatment of foreign workers, gender rights and even the use of air conditioning in stadiums.