Economy

Tory MPs ‘already sending no-confidence letters in Liz Truss’

Some Conservative MPs have already sent letters of no-confidence in Liz Truss’s leadership over fears she will “crash the economy”, a former minister has claimed. Top economists, currency markets, opposition parties and some Tory MPs have reacted with dismay to the prime minister and chancellor Kwasi Kwarteng’s borrowing-fueled tax cut spree. An ex-minister in Boris …

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The Top 20 Countries With the Most Ultra-Wealthy Individuals

The Biggest Corporate Hacks of 2021 Businesses are a prime target for cybercriminals, regardless of their size, industry, or location. In this graphic sponsored by Global X ETFs, we’ve visualized the largest corporate hacks of 2021, as measured by ransom size. The full list is also tabulated below. Victim Country Industry Amount paid or requested …

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Pound latest: Sterling hits record low as Truss accused of gambling with UK economy

Chancellor Kwasi Kwarteng says mini-budget will favor people ‘across the income scale’ The pound plunged by nearly five per cent to an all-time low as investors ran for the exits after the new government’s fiscal plan threatened to stretch Britain’s finances to breaking point. The currency tumbled to an unprecedented $ 1.0327, extending a 3.61 …

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The Kwarteng plan puts at risk the very poorest people in the UK – and growth | Mohamed El-Erian

F.riday, the day of Kwasi Kwarteng’s “fiscal event”, was a day for the economic and financial history books, a day of eye-popping one-day moves in UK financial assets that should be of interest to more than traders, economists and economic historians. If sustained, the depreciation of the currency and the surge in sovereign borrowing costs …

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Thatcher’s energy plan was derailed – now we are paying a gigantic price

In the British case it took 16 years from my announcement in Parliament to see the first one, Sizewell B, actually operating. After that, nothing. The long term vision faded before a hundred more urgent short-term pressures. Wikipedia says that after my departure from Energy in the autumn of 1981 the whole commitment was “rowed …

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Nicolas Maduro Tempts West With an Abundance of Oil and Gas, Venezuelan President Wants Sanctions Lifted – Economics Bitcoin News

Amid the economic rumblings across the world and the energy crisis in Europe, Venezuelan president Nicolas Maduro has said his country is ready to step up and help with oil. Despite the fact that Venezuela has the largest supply of crude oil in the world, US economic sanctions imposed in 2019 by the Trump administration …

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‘Our fate is unclear’: Indonesian man who paid £ 1,000 deposit for UK farm job | Immigration and asylum

The Instagram advert boasted “Job vacancies United Kingdom” above an image of plump lettuces and the promise of wages more than double most desk jobs in Indonesia. When Intan (not his real name) saw it on his phone in Jakarta this summer, he couldn’t resist. He was no farmer but, with a wife and children …

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