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

European polymer prices continued to rise over the week to 22nd March. There were increases of between 5 and 100 EUR per tonne reported in the prices of HDPE, LDPE, LLDPE, Polypropylene, PVC, ABS and Polystyrene.   Asian polymers rose with increases of between 5 and 10 USD per tonne reported in the prices of […]

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UK bank boss says interest rate cuts ‘on the way’

The Bank of England boss has said “we are on the way” to interest rate cuts after they were left unchanged at 5.25%, their highest for 16 years.   The Bank still needed to see inflation fall further, but last month’s drop to 3.4% was “very encouraging and good news,” governor, Andrew Bailey said.   […]

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US accuses Apple of monopolising smartphone market

The US has filed a landmark lawsuit against Apple, accusing the tech giant of monopolising the smartphone market and crushing competition.   In the legal action, the justice department alleges the company abused its control of the iPhone app store to “lock in” customers and developers.   It accuses the firm of taking illegal steps […]

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Japan raises interest rates for first time in 17 years

Japan’s central bank has raised the cost of borrowing for the first time in 17 years.   The Bank of the Japan (BOJ) increased its key interest rate from -0.1% to a range of 0%-0.1%. It comes as wages have jumped after consumer prices rose.   In 2016, the bank cut the rate below zero […]

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India signs $100bn free trade deal with four European nations

India has signed a free-trade agreement (FTA) with a group of four European countries that are not members of the European Union.   The deal with the European Free Trade Association (EFTA) will see investments in India of $100bn, the country’s trade minister says.   The EFTA is made up of Norway, Switzerland, Iceland and […]

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Japan avoids recession after economic growth figures revised

Japan has avoided falling into a technical recession after its official economic growth figures were revised.   The revised data shows GDP was 0.4% higher in the last three months of 2023 compared to a year earlier.   Provisional figures released last month indicated the second consecutive quarter of economic contraction.   Two quarters in […]

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US inflation rise casts doubt over interest rate cuts

The inflation rate in the US picked up in February, as prices for petrol and housing pushed higher.   The annual rate, which measures the pace of price increases, was 3.2% in February, up from 3.1% in January, the Labor Department said.   Airfare, car insurance and clothing were among the items driving the increase […]

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

European polymer prices continued to rise over the week to 8th March. There were increases of between 20 and 30 EUR per tonne reported in the prices of HDPE, LDPE, LLDPE, Polypropylene, ABS and Polystyrene.   Asian polymers were mixed with increases of 10 USD per tonne reported in the prices of ABS and Polystyrene. […]

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New BP boss paid £8m in 2023

BP’s new boss Murray Auchincloss received a pay packet worth just over £8m last year.   Mr Auchincloss took over as chief executive on an interim basis in September, before being confirmed in the job in January.   The campaign group Global Witness said his pay highlighted “the sickening reality of our broken energy system”. […]

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