South Korea raises interest rates

South Korea’s central bank has put up interest rates for the second time this year amid concerns over higher prices and rising household debt.   The Bank of Korea’s quarter of a percentage point hike to 1% was widely expected by economists.   It is the latest central bank to make such a move as […]

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US restricts trade with more Chinese technology firms

The US government has added a dozen more Chinese companies to its restricted trade list, citing national security and foreign policy concerns.   Washington says that some of the firms are helping develop the Chinese military’s quantum computing programme.   This latest move comes as tensions grow between the US and China over the status […]

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Major economies to release oil reserves in attempt to lower prices

The US has said it is releasing 50 million barrels of oil from its reserves in an attempt to bring down soaring energy and petrol prices.   The move is being taken in parallel with other major oil-consuming nations, including China, India, Japan, South Korea and the UK.   US President Joe Biden has repeatedly […]

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Japan’s export growth slows due to supply chain crisis

Japan’s exports have snapped seven months of double-digit growth as the supply chain crisis hit the motor industry.   Exports expanded by 9.4% in the year to October, the smallest rise in eight months and lower than forecasts.   Shipments of cars were hit particularly hard, down by almost 37% from the same time in […]

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Gas prices soar after setback for Russian pipeline approval

UK and EU wholesale gas prices have risen by 17% after Germany’s energy regulator suspended approval of the controversial Nord Stream 2 natural gas pipeline from Russia to Germany.   It said the pipeline’s operating company needed to be compliant with German law before it would certify the €10bn (£8.4bn) project.   Critics fear the […]

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Shell to move HQ to the UK

Royal Dutch Shell has announced a plan to move its headquarters to the UK as part of proposals to simplify the company’s structure.   The oil giant will ask shareholders to vote on shifting its tax residence from the Netherlands to the UK.   It also wants to do away with its dual share structure […]

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European polymers rise, Asian and US fall. WTI and Brent Crude fall

European polymer prices rose over the week to 12th November. There were increases of between 30 and 200 EUR per tonne reported in the prices of LDPE, LLDPE, PET, Polypropylene, PVC, ABS and Polystyrene. In the UK, prices rose across all grades as the Pound lost value against the Euro.   Asian polymers fell with […]

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US inflation at highest rate in 30 years

Americans’ cost of living is rising faster than it has for three decades, with food and fuel driving the increases.   The consumer prices index for October showed prices rose 6.2% over the last twelve months.   It marks a sharp jump from September when prices were already rising at 5.4%.   Inflation has been […]

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