UK inflation hits 10-year high as energy costs soar
18 November 2021 | 10:05 am
Inflation is continuing to soar in advanced economies around the world. In the UK, the consumer price index rose by 4.2 percent in October, the highest in a decade, while the eurozone's inflation rate hit a 13-year high. Also in the show: the EU proposes new rules to combat deforestation, and thousands of Chinese millennials seek a new life on rural farms.
An ongoing maritime dispute between Lebanon and Israel has re-entered the spotlight after a production vessel docked in an offshore gas field on Sunday. The Lebanese claim the ship is in disputed territorial waters, but the Israelis refute this. Both countries have yet to agree on maritime demarcation lines and have called on the US to mediate new talks. For more analysis, we speak to oil and gas policy expert Laury Haytayan, who is MENA Senior Officer at the Natural Resource Governance Institute (NRGI).
The 8.6% yearly increase is the biggest since 1981. President Biden's efforts to stem the tide are having little effect as the impact of Russia's invasion of Ukraine continues to hit global economies.
London is preparing unilateral changes to the protocol governing trade in Northern Ireland post-Brexit. The head of Irish nationalist Sinn Fein party accused Boris Johnson's government of choosing a "destructive path."
The first flight to take asylum seekers from the United Kingdom to Rwanda can go ahead next week, the High Court in London ruled after a judge dismissed attempts to win an injunction to stop the deportation to the East African nation.
The Japanese and Indian currencies plunged to their lowest records in decades against the US dollar as Washington looked set to hike interest rates in a bid to tackle inflation.
A controversial plan by the British government to fly asylum-seekers from the UK to Rwanda is set to go ahead after a court rejected a last-minute appeal.
The remains of UK journalist Dom Phillips and indigenous expert Bruno Pereira have been found in the Amazon jungle, according to a report. However, federal police deny that the bodies had been found and identified.
Wall Street had one of its worst days in recent weeks on Monday as a worse-than-expected US inflation figure last Friday fuelled concern about more aggressive rate hikes to come from the Federal Reserve. Cryptocurrencies also continued to tank after a lender froze withdrawals. Plus, as Europe looks to bolster the continent's energy security, France's TotalEnergies signs a deal with Qatar on a major gas field project.
The first deportation from the UK to Rwanda has been grounded after a European Court of Human Rights ruling.
The UK is set to deport an unspecified number of migrants of various nationalities to Rwanda, in a controversial deal that was given the green light by British courts. Rwandans are watching events unfold with skepticism.
Inflation is a problem everywhere but in Turkey it is currently a staggering 73.5%, with no end in sight. Still, President Erdogan insists on maintaining low interest rates.
Federal Reserve raises key interest rate 0.75% as it tries to calm inflation. The Federal Reserve said on Wednesday that it is raising its benchmark interest rate by three-quarters of a percentage point, the sharpest hike since 1994, as it seeks to combat the fiercest surge in U.S. inflation in four decades.
1 hour ago
Nigeria says out of the 141 million barrels of oil produced in the first quarter of 2022, only about 132 million barrels of oil were received at export terminals, putting a daily average loss of 108 thousand barrels in the first quarter of this year. Oliver Onyekweli, an Associate Partner at McKinsey and Company, joins CNBC Africa to discuss this issue.
1 day ago
Find these stories and much more when you grab a copy of The Guardian on Thursday.
1 day ago
Around 300 inmates remained at large on Wednesday (July 6) after a suspected raid by Islamist Boko Haram militants on a prison in Nigeria's capital Abuja on Tuesday (July 5) night, an interior ministry official said. Shuaib Belgore, permanent secretary at the interior ministry, told journalists outside the 900-inmate prison that a security officer was killed during the raid and three others were injured.
1 day ago
Money, sex, relationships, career, and more! Every month, a new episode of an honest, inspirational, and exciting podcast brings you stories from guests that will win your heart or at least leave you thinking.
1 day ago
A finished skeleton of a Gorgosaurus dinosaur that roamed the earth 77 million years ago will hit the auction block at Sotheby’s New York later this month.
1 day ago
UK Prime Minister Boris Johnson has faced lawmakers' questions after two of the most-senior figures in his government resigned. The finance and health ministers said they could no longer tolerate the culture of scandal.