December 7, 2022
UK aims to double US gas imports under new deal
The UK has agreed to double imports of US gas over the next year as it tries to stabilise soaring energy prices. Prime Minister Rishi Sunak said the plan would "bring down prices for British consumers and help end Europe's dependence on Russian…
December 6, 2022
Morgan Stanley bank to cut 1,600 jobs
Bank Morgan Stanley is cutting about 1,600 jobs or roughly 2% of its global workforce, joining other big banks in making reductions as the economy slows. The news comes after chief executive James Gorman warned that the bank would see "modest" job…
November 28, 2022
US bans sale of Huawei, ZTE tech amid security fears
The US has banned the sale and import of new communications equipment from five Chinese companies, including Huawei and ZTE, amid concerns over national security. Other companies listed include Hikvision, Dahua and Hytera, which make video…
November 24, 2022
New Zealand steps up fight against soaring prices
New Zealand's central bank has stepped up its fight against soaring prices, raising its key interest rate to the highest level in over 13 years. The Reserve Bank of New Zealand (RBNZ) increased its key rate of interest by 0.75 percentage points to…
November 21, 2022
FTX crypto exchange owes biggest creditors $3.1bn
Cryptocurrency exchange FTX owes its 50 largest creditors almost $3.1bn (£2.6bn), according to a court filing. The embattled firm, which filed for bankruptcy in the US last week, says it owes about $1.45bn to its top 10 creditors but has not named…
November 15, 2022
London loses position as most valuable European stock market
Britain's stock market has lost its position as Europe's most-valued, with France taking the top spot, data shows.A weak pound, fears of a recession in the UK, and surging sales at French luxury goods makers are thought to be behind the shift,…
November 14, 2022
UK Recession looms as economy starts to shrink
The UK economy shrank between July and September as the country heads into what is expected to be the longest recession on record. The economy contracted by 0.2% during the three months as soaring prices hit businesses and households.A country is in…
November 11, 2022
Crypto giant FTX collapses into bankruptcy
Embattled cryptocurrency exchange FTX has filed for bankruptcy in the US, seeking court protection as it looks for a way to return money to users.Former boss Sam Bankman-Fried has also stepped down as chief executive, the company said. It is a…
November 9, 2022
Cryptocurrency market rocked by near-collapse of exchange
The digital assets market has been rocked by the near-collapse of one of the world's biggest cryptocurrency exchanges, FTX. On Tuesday, FTX struck a bailout deal with larger rival Binance after a surge in withdrawals triggered a "significant…
November 4, 2022
Bank of England expects UK to fall into longest ever recession
The Bank of England has warned the UK is facing its longest recession since records began, as it raised interest rates by the most in 33 years. It warned the UK would face a "very challenging" two-year slump with unemployment nearly doubling by…