Bank of England intervention prevented destructive ‘spiral’ after mini-Budget The Independent says The Bank of England has said that its intervention last month in the
The Guardian says Liz Truss’s intervention to freeze energy prices for households for two years is expected to cost the government £89bn, according to the first major costing of the policy by the sector’s leading consultancy.
Elon Musk has made a surprising u-turn on whether he will buy Twitter. The billionaire had initially dropped out of the deal to buy the social media site, but it seems he’s not willing to proceed with the takeover.
A food waste charity has told the BBC that it has seen a drop of around 200 tonnes in supermarket surplus donations every month this summer.
The Guardian says Thames Water, Southern Water and other companies will be forced to cut tens of millions of pounds from consumers’ bills after the regulator said they had missed pollution targets.
Chancellor Kwasi Kwarteng has confirmed that the government will U-turn on plans to scrap the 45p rate of income tax.
Chancellor Kwasi Kwarteng will release a mini-budget on Friday along with National Insurance and corporation tax cuts.
Sri Lanka is enduring its worst economic crisis in over seven decades, as August saw the country’s annual inflation rate surge to more than 70%.
A government support scheme, set to be announced later, could help businesses cut their energy bills by a third.
Mike Ashley has announced he will step down from the board of Frasers Group – owner of the Sports Direct chain, the retail billionaire founded decades ago.
The Guardian says Almost 80% of the UK’s lowest-paid workers say they are now facing the toughest financial squeeze of their lifetimes, according to new research by the Living Wage Foundation.
The Guardian says The world may be edging toward a global recession as central banks simultaneously raise interest rates to combat persistent inflation, the World Bank has warned.
The i says The Chancellor, Kwasi Kwarteng, has faced widespread criticism after he proposed to scrap the cap on bankers’ bonuses as millions struggle during the cost of living crisis.
The Guardian says The John Lewis Partnership slumped to a first half loss of £99m driven by soaring inflation, as the department store group warned a “uniquely uncertain” outlook in the run-up to Christmas would put the staff annual bonus at risk this year.
Yvon Chouinard, the billionaire founder of the outdoor fashion retailer Patagonia says he has given away his company to a charitable trust.
The i says It comes as the UK faces a cost of living crisis, with fuel, food and energy prices soaring for months.
Shops have announced they will shut their doors in the UK on Monday 19 September, as a sign of respect to Queen Elizabeth II on the day of her funeral.
The Guardian says Liz Truss will finally present her long-awaited plans to tackle soaring energy bills on Thursday, with some Tory MPs conceding this is already a make-or-break moment for her entire premiership.
PM Liz Truss will unveil her plans to help the public amid soaring energy prices. The government plans are expected to limit energy bill rises, spending billions to protect people from rising prices.
Tens of thousands of businesses are at risk of collapsing if the government fails to help support them because of soaring energy bills, according to experts.
BBC News says The government has announced how all households in England, Scotland and Wales will receive £400 to help with rising fuel bills this autumn.
BBC News says The latest round of national rail strikes are getting under way, with only 20% of train journeys expected to go ahead on Wednesday.
Sky News says Two further days of rail strikes have been announced by the RMT union for 18 and 20 August in the row over jobs, pay and working conditions.
There is set to be a strike on 30 July over a pay dispute, union Aslef has announced.
Aljazeera says MACAU has locked down one of the city’s most famous hotels, the Grand Lisboa, after more than a dozen COVID-19 cases were found there on Tuesday.
The Independent says MORE than nine in 10 people have seen their living costs rise over the past month, as the price of food, fuel and energy continues to surge, pushing inflation to its highest level in four decades.
The Metro says TIME IS RUNNING out to spend the last remaining £20 and £50 paper bank notes.
The Guardian says UK INFLATION has increased to 9.1%, the highest rate in 40 years amid record prices for petrol and the soaring cost of food.
The Guardian says the biggest rail strikes in three decades are due to start on Monday night, with trains cancelled across Great Britain for much of the week.
The Guardian says the global rout in stock markets, cryptocurrencies and other risky assets has gathered pace amid growing concern that out-of-control inflation, rising interest rates and slowing growth could combine to tip the world into recession.
Aljazeera says Elon Musk was sued for $258bn on Thursday by a Dogecoin investor who accused him of running a pyramid scheme to support the cryptocurrency.
The Guardian says food price rises in the UK could hit 15% this summer – the highest level in more than 20 years – with inflation lasting into the middle of next year, according to a report.
TRT World says the US Federal Reserve has raised its benchmark interest rate by 75 basis points, marking its biggest rate hike in 28 years.
The Independent says real pay has fallen at a record rate, with public sector workers seeing a particularly big hit to their earnings while bankers toasted “extremely high” bonuses, official figures show.
The Guardian says Average wages in the UK are falling at the fastest rate for more than a decade as annual pay growth fails to keep pace with the rising cost of living.
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