London CNN Business — OPEC+ said Wednesday that it will slash oil production by 2 million barrels per day, the biggest cut since the start of the pandemic, in a move that threatens to push gasoline prices higher just weeks before US midterm elections. The group of major oil producers, which includes Saudi Arabia and […]
CNN — As protesters took to the streets of Iran following the death in detention of Mahsa Amini, a 22-year-old woman apprehended for apparently not wearing her hijab properly, videos of the uprising began to flood the internet. Clips of students tearing up pictures of the Ayatollah in northern Iran. Photos of women removing their […]
Brisbane, Australia CNN — A highly anticipated sexual assault trial began in Australia Tuesday in a case that has raised questions about the culture in the nation’s Parliament and the actions of ministers when the claims emerged. Former Liberal Party staffer Bruce Lehrmann has pleaded not guilty to sexual intercourse without consent relating to the […]
São Paulo, Brazil CNN — Brazilians woke up to four more weeks of campaigning after a presidential vote on Sunday destined frontrunners Luiz Inácio “Lula” da Silva and Jair Bolsonaro to a second round run-off later this month. Results released Monday by Brazil’s Superior Electoral Court (TSE) showed left-wing candidate and former president da Silva […]
New York CNN Business — Around the world, markets are flashing warning signs that the global economy is teetering on a cliff’s edge. The question of a recession is no longer if, but when. Over the past week, the pulse of those flashing red lights quickened as markets grappled with the reality — once speculative, […]
London CNN Business — EU governments agreed Friday to tax the windfall profits of oil and gas companies and to cap the revenues of some electricity generators as the cost of Europe’s energy crisis spirals higher. But energy ministers from the 27 EU member states failed to reach an agreement on a proposal by the […]
London CNN Business — There was good news and bad in Friday’s revised data about the UK economy. It grew — marginally — in the second quarter of the year, rather than shrinking as previously estimated. But the latest update from the Office for National Statistics also showed that the United Kingdom is the only […]
New York CNN — US officials are increasingly troubled by the United Kingdom’s proposal to slash taxes at a time of crushing inflation, a plan that has ignited turbulence in financial markets. UK Prime Minister Liz Truss’s tax-cut plan has drawn criticism from economists and investors and prompted the Bank of England to calm panicked […]
London CNN Business — A week ago, the Bank of England took a stab in the dark. It raised interest rates by a relatively modest half a percentage point to tackle inflation. It couldn’t know the scale of the storm that was about to break. Less than 24 hours later, the government of new UK […]
London CNN Business — The Bank of England said Wednesday it would buy UK government debt “on whatever scale is necessary” in an emergency intervention to halt a bond market crash that it warned could threaten financial stability. Investors have been dumping the pound and UK bonds since the government of new Prime Minister Liz […]