The chancellor of the Exchequer is being urged to curb billions in spending that is “dividing us into warring factions and holding our country back,” according to a Conservative think tank. On Monday, 40 Conservative MPs who are part of the think tank Conservative Way Forward (CWF), called on Chancellor Jeremy Hunt to consider the…
Equality, Diversity, and Inclusion Jobs Costing UK Taxpayers £557 Million a Year: Report
UK Unemployment Rate Rises as Jobs Market Shows Signs of Weakening
Britain’s rate of unemployment has risen again and the number of vacancies fell back further in a sign of a weakening jobs market, official figures have shown. According to the latest data from the Office of National Statistics (ONS), the UK unemployment rate rose to an estimated 3.7 percent in the three months to October,…
UK Government Intervenes in Chinese Takeover of Shell Company Over Risks to National Grid
December 13, 2022
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Business & MarketsChinaChina Business & EconomyChineseCompanieseconomic policiesenergyEurope-China RelationsInternational RelationsInvestmentnational gridUKWorld
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The UK has imposed restrictions on the Chinese takeover of a shell company worth £1, saying the move mitigates national security risks. In a notice of final order (pdf) published on Dec. 6, the Department for Business, Energy & Industrial Strategy (BEIS) said Business Secretary Grant Shapps considers the takeover of XRE Alpha Limited by China Power International Holding…
Stocks Open Sharply Higher as Inflation Cools in November
Stocks are opening sharply higher on Wall Street after the government reported that inflation slowed dramatically last month. The S&P 500 jumped 2.5 percent in the early going Tuesday and the tech-heavy Nasdaq composite rose 3.3 percent. Treasury yields also fell sharply following the report showing that consumer prices rose 7.1 percent in November from…
European Union Agrees to Impose World’s First Carbon Tariff on Imports
December 13, 2022
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Business & MarketsC02 emissionscarbon emission tradingeconomic policieseconomyenergyEuropeeuropean union taxestaxes on carbon emissionsWorld
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The European Union (EU) struck a political deal on Tuesday morning that seeks to impose tariffs on carbon dioxide emissions made by manufacturers of imported goods that are deemed to be polluting, a first of its kind carbon tariff. The members of the European Parliament arrived at an agreement with the European Council on the…
Dollar Steadies in Calm Before CPI and Central Bank Storm
London—The dollar steadied on Tuesday ahead of the release of U.S. inflation data and the final Federal Reserve meeting of the year, with investors waiting to update interest rate outlooks. A month ago, a small surprise to the downside unleashed a wave of bond buying and dollar selling on the expectation that inflation had peaked….
Oil Climbs on Supply Disruptions, Easing COVID-19 Restrictions in China
December 13, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil extended gains on Tuesday on supply disruptions and as COVID-19 restrictions eased in China, the world’s largest crude importer. Brent crude futures were up 64 cents, or 0.82 percent, to $78.63 per barrel by 1159 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 39 cents, or 0.53 percent, to $73.56. WTI hit…
Shares, Dollar Hold Steady Ahead of Key Inflation Data
December 13, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—Global stocks held steady on Tuesday, while the dollar eased modestly ahead of U.S. inflation data that could persuade the Federal Reserve and other central banks to step back from aggressive interest rate hikes. Headline consumer price pressures for November in the world’s largest economy are expected to have fallen for a fifth successive month,…
ESG Funds Underperforming S&P 500, Streak Expected to Continue Through 2023
December 13, 2022
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Business & Marketseconomic policieseconomyenvironmental social and governance (ESG) policiesesg agendaesg fundsESG investingInvestmentMarketsS&P 500 indexstocksUSUS News
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Several investment funds that adhere to environmental, social, and governance (ESG) policies have performed worse than the S&P 500 index this year, with the underperformance of such funds potentially set to continue through 2023 as well. A Bloomberg analysis of the 10 largest ESG funds by assets reveals that they have all registered double-digit losses….
US Inflation Will Be Much Lower by End of 2023: Yellen
U.S. Treasury Secretary Janet Yellen on Sunday forecast a substantial reduction in U.S. inflation in 2023, barring an unexpected shock. “I believe by the end of next year you will see much lower inflation if there’s not … an unanticipated shock,” she told CBS’ ’60 Minutes’ in an interview released Sunday. Asked about the likelihood…
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