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Bessent says Argentina peso bet was homerun deal
Posted onUS Treasury Secretary Scott Bessent said his risky US gamble on Argentina’s currency has paid off. Bessent said American financial support had been repaid and the US no longer held any Argentine pesos in its exchange stabilisation fund. The US had purchased the then-plunging currency last year in an effort to stave off further turmoil…
Faisal Islam: Rachel Reeves pre-emptively justifies tax rises
Posted onIn Liverpool Rachel Reeves seemed to be floating a pre-emptive argument ahead of possible tax rises in her November Budget. The key line in the chancellor’s speech in relation to the Budget was her linking of tough decisions “in coming months” to global headwinds and a critical reassessment of the long-term productivity performance of the…
One in eight young people not in work or education
Posted onIn May, the first part of Milburn’s report, which was commissioned by the government, said the reasons for the rise in rates among men were “complex”, but could be down to more health issues, the “erosion of traditional employment routes” and “a growing gap in educational outcomes”. He also said the “Neet problem is grounded…
Could a huge data centre revitalise Ayrshire – or ruin it?
Posted onLast autumn, Intelligent Land Investments (ILI) – a company with a background in clean energy development and battery storage projects – announced ambitious plans for a data cluster called the Stoics, spread across sites in Ayrshire, Lanarkshire and Fife.
Daily Mail owners takeover of Telegraph to face probe
Posted onIn issuing the probe into the deal, Nandy said: “The public interest considerations concerned are the need for a sufficient plurality of views in each UK market for news media; and, the need for a sufficient plurality of persons with control of media enterprises serving every different UK audience.”
Trump calls for interest rate cut after jobs figures raise hike bets
Posted onDonald Trump has called for interest rates to be cut later this month, claiming higher rates put the US at a “very unfair disadvantage”. The president’s remarks came as stronger-than-expected jobs figures in the US added to growing expectations that rates could be increased, with inflation still running high and American households feeling the pinch…
