Queen Elizabeth II’s death marks a new era for Britain, beset by economic uncertainty
Queen Elizabeth’s death comes at a time of flux for Britain, a country saddled with a worsening economic outlook, an energy crisis and increased inequality.
Financial News
New British PM Liz Truss announces a cap on energy bills to combat cost-of-living crisis
U.K. Prime Minister Liz Truss on Thursday announced a broad stimulus package to help Brits with soaring energy bills and attract investment into the energy sector.
European Central Bank could unleash a jumbo rate hike as the economy slides toward recession
Inflation in the euro zone hit 9.7% in August and with the continued pressure on energy prices it’s expected to reach double-digit levels in the coming months.
German gas giant Uniper says the worst is still to come after Russia halts flows to Europe
Uniper, as Germany’s biggest importer of gas, has been hit hard by vastly reduced gas flows via pipelines from Russia, which have sent prices soaring.
Britain’s next prime minister to be announced as country tackles worsening cost-of-living crisis
The new U.K. prime minister will be announced today, with either Liz Truss or Rishi Sunak becoming the country’s leader.
NASA delays Artemis moon mission after second launch attempt halted due to fuel leak
NASA postponed its Artemis I launch again, after making a second attempt to get the mission off the ground.
EU economics chief says bloc is not afraid of Putin, ready to react over halted Russian gas supplies
The European Union is “ready to react” to Russia’s latest decision to halt gas supplies to the bloc, a top EU official has told CNBC.
Russia’s energy influence over Europe ‘is nearly over’ as bloc races to shore up winter gas supplies
Europe has endured a sharp drop in gas exports from Russia, its largest energy supplier, in recent months.
Some market players are starting to fear a major policy error from a central bank
The U.S. Federal Reserve last week struck a hawkish tone on combating inflation via monetary policy, but analysts are concerned.
Euro zone inflation hits another record of 9.1% as food and energy prices soar
Euro zone inflation hit a new record high in August at 9.1%, exceeding economists’ expectations.