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What cost of living crisis? Tory hopefuls’ fuss over tax cuts is devoid of reality

By the time the Conservative party gets around to electing a new leader, Britain will either be in recession or perilously close. The cost of living crisis will be entering a new, more painful phase with a fresh surge in energy bills. A…

Crypto hedge fund at center of crisis faces risk of default as deadline to repay $670

Billions of dollars of value have been wiped off the cryptocurrency market in the last few weeks. Companies in the industry are feeling the pain. Lending and trading firms are facing a liquidity crisis and many firms have announced…

G7 nations are worried about global economic crisis, Scholz says

Italy's Prime Minister Mario Draghi, Canada's Prime Minister Justin Trudeau, France's President Emmanuel Macron, German Chancellor Olaf Scholz, U.S. President Joe Biden, Japan's Prime Minister Fumio Kishida and British Prime Minister…

Australian power market operator says fire won’t worsen energy crisis

SYDNEY (Reuters) - The Australian Energy Market Operator (AEMO) said a fire that ripped through a New South Wales power station on Saturday will not affect electricity supply, already snarled by an energy crisis in the country's…

Labour says some of Boris Johnson’s plans will make housing supply crisis ‘even worse’ –

According to a story by George Parker and Peter Foster in the Financial Times, Michael Gove was one of several cabinet ministers who this week expressed concerns that the bill to allow the UK to ignore parts of the Northern Ireland…

ServiceNow CEO says current economic downturn ‘is not even close’ to 2008 crisis

ServiceNow Chief Executive Bill McDermott told CNBC's Jim Cramer on Monday that he doesn't expect the current economy to undergo a market downturn like the 2008 financial crisis."This is not even close to 2008. In 2008, I was with a…

Bumper City bonuses of pre-financial crisis are back, TUC finds

Bonuses paid to the UK’s bankers, insurance brokers and other financial sector workers have hit a record high and are rising more than six times faster than average wages in the UK, unions have found.The Trades Union Congress said its…

The world may be careening toward a 1970s-style energy crisis — or worse

Unlike those infamous episodes, this one is not contained to oil."Now we have an oil crisis, a gas crisis and an electricity crisis at the same time," Fatih Birol, head of the International Energy Agency watchdog group, told Der Spiegel…

Food crisis fuels fears of protectionism compounding shortages

DAVOS, Switzerland, May 24 (Reuters) - A growing world food crisis is precipitating protectionist moves by countries which are likely to compound the problem and could lead to a wider trade war, business leaders and policymakers at the…