The rate of inflation has hit its highest level for a decade as prices rise across the UK economy, with fuel and energy costs leading the way. The Office for National Statistics (ONS) reported that the consumer prices index (CPI) measure jumped to 4.2% in October from 3.1% the previous month – a bigger leap […]
Two more UK energy firms have collapsed – as a pipeline delay in Europe further added to the wholesale price pressures that have created a crisis in the industry. Regulator Ofgem said Neon Reef, which has around 30,000 domestic electricity customers, and Social Energy Supply, which supplies about 5,500 households, had ceased trading. It brings […]
WASHINGTON (Reuters) – U.S. retail sales surged in October as Americans eagerly started their holiday shopping early to avoid empty shelves amid shortages of some goods because of the ongoing pandemic, giving the economy a lift at the start of the fourth quarter.FILE PHOTO: Shoppers wait in line to enter the Chanel store on 57th […]
LONDON (Reuters) – The European Central Bank’s latest comments on inflation have lobbed another grenade in the path of the euro.FILE PHOTO: The headquarters of the European Central Bank (ECB) in Frankfurt, Germany, March 12, 2016. REUTERS/Kai Pfaffenbach//File PhotoAlready down over 7% to the dollar this year, the euro tumbled against every major currency after […]
(Reuters) -Wall Street indexes were set to open slightly higher on Tuesday as a strong holiday forecast from Walmart and a better-than-expected retail sales data boosted confidence in an economic recovery.FILE PHOTO: People walk by the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 9, 2021. REUTERS/Andrew KellyWith Americans starting their […]
SINGAPORE – Sovereign wealth fund GIC must continue to anticipate and prepare for challenges ahead, such as economic uncertainties and climate change, as it celebrates its achievements to date, said Prime Minister Lee Hsien Loong on Tuesday (Nov 16). In the 40 years since its formation, GIC has become one of the best regarded sovereign […]
LONDON (Reuters) – Global stock markets marched on towards new peaks on Tuesday as U.S. President Joe Biden and Chinese leader Xi Jinping held over three hours of virtual talk, helping to nudge China’s yuan to a five-month high and pulling the dollar lower.FILE PHOTO: A woman wearing a protective mask, amid the COVID-19 outbreak, […]
SYDNEY (Reuters) – The dollar eased broadly against riskier currencies and the yuan scaled a five-month high on Tuesday, as talks between U.S. and Chinese leaders seemed to have an amicable start, while traders awaited looming U.S. retail sales data.FILE PHOTO: U.S. one dollar and Chinese Yuan are seen in this illustration taken May 7, […]
The US believes Beijing will quadruple its warhead arsenal by 2030. Could this alter the balance of power in Asia? On July 27, China became the first nation to fly a hypersonic glide vehicle — a manoeuvrable craft that travels at more than five times the speed of sound — around the earth. The vehicle […]
SINGAPORE – Temasek launched a $350 million five-year bond sale on Monday (Nov 15), part of which will be available for purchase by retail investors in Singapore. Singapore’s investment company said it is offering a placement of $250 million of bonds to institutional, accredited and other specified investors. The public offer of up to $100 million is […]