US Federal Reserve planning one rate cut this year

The US Federal Reserve has signalled that it will cut its key interest rate just once this year despite inflation easing.   Back in March, the central bank had been expected to reduce borrowing costs three times by the end of 2024.   However, on Wednesday, new forecasts from Fed officials who make decisions on […]

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EU threatens China EVs with tariffs of up to 38%

The European Union has “provisionally concluded” that Chinese electric vehicle manufacturers will face tariffs from 4th July “should discussions with Chinese authorities not lead to an effective solution”.   The EU’s announcement comes as it continues an investigation into what it claims is a flood of cheap, government-subsidised Chinese cars into the trade bloc.   […]

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US increases sanctions on Russia

The US has broadened its sanctions on Russia, including a fresh crackdown on banks dealing with sanctioned entities.   It expands a December programme to sanction foreign banks deemed to be aiding Russia’s war effort in Ukraine.   The US also placed sanctions on the Moscow stock exchange, leading to it halting trading in dollars […]

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US jobs hike casts further doubt over interest rate cuts

Hiring in the US surged unexpectedly last month, continuing to defy predictions of a slowdown while raising fresh questions about when interest rates will fall.   Employers added 272,000 jobs in May, the US Labor Department said, above expectations of 185,000 new roles.   The larger-than-expected gain emerged despite the highest borrowing costs in more […]

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Indian stocks tumble after general election

Indian stocks have fallen sharply after vote counting in the country’s general election indicated Prime Minister Narendra Modi’s party might not be able to form a majority government.   The benchmark NSE Nifty 50 share index closed down nearly 6%, its steepest fall since India’s first Covid lockdowns in March 2020.   Early results suggest […]

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Spain’s Ecoembes accused of manipulating recycling data

Spanish packaging waste recycler Ecoembes, has been accused of manipulating plastic recycling data.   A study indicates that Ecoembes claimed a 71% separate collection rate for small plastic bottles in 2021 while the actual figure stands at a mere 36%.   Zero Waste Europe and the Zero Waste Alliance are the groups behind the study […]

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Bank of England hints at UK interest rate cut

The Bank of England has given its strongest hint yet that interest rates could be cut this summer.   Bank deputy governor Ben Broadbent said in a speech that a rate cut at “some time” over the summer was “possible”.   His comments come ahead of figures on Wednesday that are expected to show a […]

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