Tag: United Kingdom
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The Fed doubles down on message to markets — aggressive rate hikes aren't going away
New York CNN Business — The US Federal Reserve is delivering a hawkish message to markets: We hear you, we see you, but you can’t stop us — aggressive rate hikes aren’t going away. Wall Street seems to be listening. Markets now see an 86% chance of a three-quarter point hike at the September Fed…
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Energy crisis: UK to cap domestic heating and electricity bills at £2,500 a year
The UK’s new prime minister, Liz Truss, says her government will cap domestic energy prices for homes to ease a major cost-of-living crisis. Truss added she will also approve more North Sea oil drilling and lift a ban on fracking in a bid to increase the UK’s domestic energy supply. She told MPs that the…
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UK energy company BP's profits double to €26 billion in 2022
British energy supermajor BP has reported record annual earnings, fueling demands that the UK boost taxes on companies benefiting from the surge in energy prices. The London-based giant’s profits have jumped to nearly € 26bn in 2022 from just under € 12bn a year earlier. That beat the previous record profits BP earned in 2008,…