Cryptocurrencies suffered heavy losses on Friday, with Bitcoin back above $30,000 and still poised for a record losing streak after the collapse of so-called stablecoin TerraUSD, which rippled through cryptocurrency markets. Crypto assets have also been dragged into the massive sell-off of risky investments due to concerns over high inflation and rising interest rates. Sentiment … Read more
A shortage of infant formula in the United States is pushing parents to barter, sell and afford leftovers, while President Joe Biden plans to speak to manufacturers and retailers on Thursday about families’ plight. The problem is the result of supply chain disruptions and a safety recall, and has had a cascading effect: retailers are … Read more
The Tesla owner has questioned Saudi Arabia’s role in the tech company after the prince ‘rejected’ the proposed deal. Elon Musk has questioned Saudi Arabia’s role in Twitter Inc after Saudi Prince Alwaleed bin Talal tweeted his opposition to the billionaire entrepreneur’s bid to buy the social media company. The prince tweeted from his verified … Read more
Hello and welcome to our continuing coverage of business, the global economy, financial markets and the latest travel issues plaguing the UK. Travelers are being warned to expect delays and disruption on roads, rail, sea and air this Easter weekend as people try to get away for a break. Staff shortages and illnesses continue to … Read more
Economists expect the cost of living crisis to get worse before it gets better, not least because the household energy price cap rose more than 50% in April. Jack Leslie of the Resolution Foundation said: ‘Inflation last month reached levels not seen since the early 1990s, but it is still well below the price pressures … Read more
10:02 TSB 10:02 UK property prices also continued to soar. The average house price increased by 10.9% in the year to February 2022, compared to 10.2% in January 2022. Prices rose 0.8% in the month, following a monthly rise of 1.1% in January, despite the prospect of higher interest rates to calm inflation, pushing up … Read more
Hello and welcome to our ongoing coverage of business, the global economy and financial markets. Britain’s economic growth slowed more than expected in February, with UK industrial production falling as manufacturers struggled to get parts. UK GDP rose just 0.1% in February, new figures from the Office for National Statistics show, with activity down at … Read more
British consumers’ minds were focused on energy prices on a ‘dark Friday’ in which the energy price cap increase took effect and a series of other bills took effect. increase. Such is the pressure on British households that Frances O’GradyTrades Union Congress leader, has called on the chancellor for an ’emergency budget’ to tackle the … Read more
The official Purchasing Managers’ Index (PMI) for the manufacturing sector fell to 49.5 from 50.2 in February, the National Bureau of Statistics (NBS) said on Thursday, while the non-manufacturing PMI fell to 48 .4 against 51.6 in February. The last time both PMI indices were simultaneously below the 50 point mark that separates contraction from … Read more
Apple Inc. is working on a subscription service for the iPhone and other hardware products, a move that could make owning a device similar to paying a monthly app fee, according to people with knowledge of the matter. The service would be Apple’s biggest push yet toward automatically recurring sales, allowing users to subscribe to … Read more