Economy

The Bank of England can’t save people from this cost of living crisis – that’s Boris Johnson’s job | Sahil Dutta

In the 25 years since the Bank of England was made independent, politicians have happily played along with the idea that they have no place in monetary management. Yet with inflation now reaching 9% – levels last seen 40 years ago – that claim has broken. Instead, senior Conservative MPs scolded the Bank for letting …

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Iraq balks at greater Chinese control of its oilfields

Iraq balks at greater Chinese control of its oilfields

Iraq persuaded Lukoil to halt sale to Sinopec – sources Baghdad concerned China becoming too dominant – sources Western firms not happy with terms of Iraqi deals LONDON/BASRA, May 17 (Reuters) – Iraq’s oil ministry thwarted three prospective deals last year that would have handed Chinese firms more control over its oilfields and led to …

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Bitcoin's carbon footprint is growing larger. Here's why.

Stablecoins were supposed to be ‘stable.’ Then the crash came

On Twitter and Reddit, stunned Luna and TerraUSD investors tried to take stock of their losses after the cryptocurrencies’ dramatic collapses last week. The two cryptos took a beating as Terra — a supposed “stablecoin” that was meant to retain a $1 price point — lost its peg, and the connected Luna crypto dropped 99% …

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Saudi Arabia's Public Investment Fund Now Owns 5% Of Nintendo

Saudi Arabia’s Public Investment Fund Now Owns 5% Of Nintendo

picture: Nintendo Saudi Arabia’s Public Investment Fund, a near-bottomless pit of cash tasked with diversifying the nation’s economy (and whitewashing their human rights record), has acquired a 5.01% stake in Nintendo. The news was announced in a filing made with Japan’s Finance Ministry, Bloomberg reports. It follows similar investments made last year in Capcom, EA, …

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Crude Oil Price Forecast - Crude Oil Markets Continue the Upward Momentum

Crude Oil Price Forecast – Crude Oil Markets Continue the Upward Momentum

WTI Crude Oil Technical Analysis The West Texas Intermediate Crude Oil market rallied again during the trading session on Tuesday as we continue to see a lot of upward momentum in the energy markets overall. The crude oil markets have just broken out of a major triangle, and therefore it looks like the sellers are …

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China cuts shipments to Russia of smartphones, laptops and other tech

China cuts shipments to Russia of smartphones, laptops and other tech

Placeholder while article actions load Chinese technology exports to Russia plummeted in March after US-led sanctions took effect, US Commerce Secretary Gina Raimondo said Tuesday, calling it a sign of Beijing’s wariness about violating the trade prohibitions. Chinese shipments of laptops to Russia fell by 40 percent in March compared with February, while exports of …

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