November 2, 2022
The Fed hikes US interest rates to fresh 14-year high
The US central bank has approved another sharp rise in interest rates as it wrestles to rein in fast-rising prices. The Federal Reserve said it was raising its key interest rate by 0.75 percentage points, lifting it to its highest rate since early…
October 31, 2022
US mortgage rates top 7% for first time in two decades
The average long-term U.S. mortgage rate topped 7% for the first time in more than two decades this week, a result of the Federal Reserve's aggressive rate hikes intended to tame inflation not seen in some 40 years. Mortgage buyer Freddie Mac…
October 28, 2022
Facebook owner dive 20% as investors lose faith
Shares in Meta, which owns Facebook and Instagram, have plunged more than 20% after a downbeat set of results from the tech giant. It comes as investors doubt Mark Zuckerberg's vision for future growth, and revenues and profits decline. Meta's sales…
October 20, 2022
Amazon could pay UK shoppers £900m compensation
Amazon shoppers in the UK could receive a share of £900m in compensation, once a legal claim is submitted against the technology giant. The proposed claim alleges the company breached competition law and caused customers to pay higher prices.It is…
October 13, 2022
Netflix ad-supported service to launch in November
Netflix is launching a new streaming option with adverts in November, introducing a less expensive offering as it fights to keep viewers. The plan will be available in 12 countries including the UK, US, Canada, Mexico and Australia.The firm said it…
October 10, 2022
US ramps up curbs on chip sales to China
The US is introducing further measures to restrict sales of computer chip technology to China in a bid to hobble the country's military advances.Under new rules, the US said it would bar US firms from selling certain chips used for supercomputing…
October 7, 2022
FortisTCI and TCI Government introduce Fuel Factor Stabilization Initiative
Residential customers across the Turks and Caicos Islands will see a significant reduction in the fuel factor rate on their electricity bills following an initiative between FortisTCI and the Turks and Caicos Islands Government (TCIG).Residential…
October 5, 2022
Petrol price rise warning after Opec oil output cut
Some of the world's top oil-producing countries have agreed to cut the amount they export in a decision expected to raise petrol prices around the world. Members of Opec+ - a group that includes Saudi Arabia and Russia - said they would slash…
September 30, 2022
Invest TCI attends the 26th World Investment Conference 2022 organised by WAIPA
The 26th chapter of the World Investment Conference (WIC) took place September 13th - 14th, 2022, in Geneva, Switzerland. This year’s event was held under India’s presidency on the overarching theme of “Investment Promotion Agencies (IPAs) Shaping…
September 28, 2022
UK Treasury rejects U-turn on mini-budget
The UK government will not abandon its mini-budget despite the Bank of England having to step in amid market turmoil, a Treasury minister has said.Labour called for the tax-cutting measures to be ditched after they sparked a fall in the pound and a…