Italy may soon declare a state of alert if natural gas supplies from Russia continue to be limited gas supplies. Before the Russian invasion of Ukraine, Italy sourced around 40% of the gas it uses from Russia. Italy has sought to diversify its gas imports with more supply from North African producers, but it still …
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Europe biggest buyers of Russian gas are racing to find alternative fuel supplies, and some may even turn back to coal. With Europe and Russia at odds over the Ukraine war, some European leaders face the threat of an energy crisis this winter if gas stores are not refilled. Italy’s Eni said it was told …
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Chief Secretary to the United Kingdom Treasury Simon Clarke (pictured) told the Times Radio on Monday that the government does not expect a recession. Clarke stressed that the British economy has “considerable underlying strengths” despite “very significant challenges” globally. Earlier, he told Sky News that the pay in the public sector will not be increased …
The Bank of England raised interest rates for a fifth straight meeting and sent its strongest signal yet that it’s prepared to unleash larger moves if needed to tame inflation. The nine-member Monetary Policy Committee voted 6-3 to increase the benchmark lending rate by 25 basis points to 1.25%. A minority of officials maintained their …
Continue reading “BOE Raises Rates to Highest Since 2009 and Warns of Bigger Moves”
WASHINGTON, June 15 (Reuters) – The Federal Reserve on Wednesday approved its largest interest rate increase in more than a quarter of a century to stem a surge in inflation that U.S. central bank officials acknowledged may be eroding public trust in their power, and being driven by events seen increasingly out of their hands. …
Continue reading “Inflation will not fall to 2% target for two years, Fed’s Mester says”
https://youtu.be/n7uCRAeKhFI Germany must reduce natural gas consumption and increase the burning of coal in order to help fill gas storage facilities for next winter, German Economy Minister Robert Habeck announced Sunday as the country moves away from reduced Russian gas supplies. “The situation is serious,” Habeck said in a statement. “We are therefore continuing to …
Ten Reason the Stock Market is crashing: Rising inflation – too much money chasing a reduced number of goods due to supply chain disruptions. People plunging into more debt. Especially since their stock trading and retirement accounts have now wiped out. Covid pandemic (Continuing Lockdowns in China) still causing a global supply chain crisis. China’s …
Continue reading “The 2022 tech stock crash is the biggest Yet…But the biggest drop is yet to come”
The price of Bitcoin slid under $19,000 on Saturday for the first time since December 2020 as evidence of deepening stress within the crypto industry keeps piling up against a backdrop of monetary tightening.The largest digital token by market value tumbled as much as 11% to $18,334 on Saturday, marking a record-breaking 12th consecutive daily …
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French gas operator GRTgaz revealed on Friday that France is no longer receiving gas from Russia from the direction of Germany. The delivery was interrupted on June 15, the company stated. GRTgaz assured France will have no difficulty meeting the needs of consumers during the summer, noting that gas flow from Spain has increased. Current …
The U.S. stock market met popular criteria for a bear market this week as the latest declines by the S&P 500 took the U.S. large-cap benchmark down by more than 20% from its record close in January. Investors, no doubt, are wondering how far stocks might fall from here, and what to do next. The …
Continue reading “Wall Street is officially in a bear market”