Newsletter May 12, 2023

Bank of England lifts interest rate to 15-year high

Global policymakers are battling elevated inflation caused largely by runaway energy bills following last year's invasion of Ukraine by major oil and gas producer Russia.

Stock markets down as traders weigh inflation, rate hikes

Most European indices closed down as well, including the FTSE 100 in London which dipped into the red after earlier gains.

UK interest rates raised for 12th time in a row to highest level for almost 15 years

UK interest rates have been raised for the 12th time in a row in a further attempt by the Bank of England to slow the rising cost of living, increasing the Bank's base rate from 4.25 to 4.5 per cent.

UK sets up council to help SMEs achieve net zero targets by 2050

The UK government has launched a Net Zero Council to help UK SMEs reduce carbon emissions, implement greener practices and set them on the path to net zero.

SoftBank Group logs $7.2 billion full-year loss on tech woes

SoftBank took hits across a range of startup investments, from long-struggling WeWork to delivery service DoorDash.

NATO meets in Brussels as 'a new era for collective defence' beckons

NATO Chiefs of Defence have met in Brussels with new Regional Plans on the agenda as concerns over the security threat posed by Russia motivate action.

Britain moves first to supply Ukraine with long-range cruise missiles

Britain on Thursday became the first country to start supplying Ukraine with long-range cruise missiles, which will allow Ukrainian forces to hit Russian troops and supply dumps deep behind the front lines.

British national pleads guilty to bitcoin scam that targeted Barack Obama, Elon Musk, others

A 23-year-old British national has pleaded guilty to hacking charges in connection with a 2020 Twitter hack that targeted celebrities like Barack Obama.

Microsoft releases update for Windows 11, also shows some love for Windows 10

While Windows 11 version 22H2 has received a few notable changes, Windows 10 has also been updated to build 19045.2965.

Mallorca to slap £25,000 fine for partying on boats this summer

The summer parties in Spain are set to kick-off in June.

New urine test as cancer diagnostic tool developed at MIT

The test requires just a urine sample, making it an affordable and non-invasive screening option. The technology behind the test uses a new type of nanoparticle with a protein-coating tagged with DNA sequences.

Top paper executives covered up unlawful behaviour, Prince Harry's lawyer says

Senior executives of Mirror Group Newspapers authorised widespread illegal activity at their tabloids including the targeting of a British royal, the lawyer for Prince Harry and others suing the publisher said on Thursday.