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Why has the Bank of England cut interest rates?
Posted onSo why has the Bank of England cut rates when inflation is well above its target of 2% and seems set to remain there? This vexed question is why the proceedings of the Bank’s nine member Monetary Policy Committee were so close and even involved an unprecedented second vote. The bottom line is that in…
Boeing criminal case linked to fatal 737 crashes dropped
Posted onAFP via Getty Images Boeing will avoid a criminal charge in the US linked to two deadly 737 Max crashes, after a court granted a request from the US government to dismiss the criminal case. In his ruling, Judge Reed O’Connor said he “disagreed” that dropping the charge was in the public interest but said…
Oil briefly falls below $100 and shares jump on Trump Iran war pledge
Posted onOil prices have surged as much as 64% in March – when they reached nearly $120 a barrel – in the biggest monthly gain since 1990 when Iraq’s invasion of Kuwait took both countries’ oil off the market, resulting in an energy supply shock, said Nicolas Daher from the Economist Intelligence Unit.
UK sanctions Russia’s oil giants over Ukraine war
Posted onBritain is targeting Russia’s largest oil companies and the country’s “shadow fleet” of oil tankers in a bid to cut off Vladimir Putin’s ability to fund the war in Ukraine. The UK government is also pursuing a major Indian oil refinery and four Chinese oil terminals in a package of 90 new sanctions. Chancellor Rachel…
South Korean workers detained in US raid arrive home
Posted onMore than 300 South Koreans who were detained in a massive immigration raid at a Hyundai plant in the US state of Georgia have arrived back home. Their return comes as the country’s president and Hyundai’s chief executive have warned about the impact of the raid. A chartered Korean Air jet carrying the workers and…
