November 11, 20240 Comments

Trump tariffs likely to lead to higher U.S. interest rates: IIF chief

Extreme tariffs proposed by U.S. presidential candidate Donald Trump would interrupt the path of disinflation and could lead to higher interest rates, according to the head of the Institute of International Finance. “The assumption is you’ll have higher inflation, higher interest rates than you would have in the absence of those tariffs,” Tim Adams, president and CEO of the IIF financial services industry trade group, told CNBC’s Karen Tso on

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November 11, 20240 Comments

Primark considers investing outside UK due to Budget

Primark owner Associated British Foods (ABF) has said the recent Budget may lead it to invest more outside the UK over fears the High Street will bear the “weight of tax rises”. George Weston, chief executive of ABF, said: “We’re an international business as well, we have choices about where we will invest.” It comes as the owner of the fast fashion brand reported a 43% rise in profits before

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November 11, 20240 Comments

U.S., China trade tariffs escalating would be ‘costly for everybody’: IMF

An escalation of trade and tariffs tensions between the U.S. and China would have “costly” economic consequences around the world, Gita Gopinath, deputy managing director of the International Monetary Fund told CNBC on Wednesday. “We are seeing geopolitically driven trade around the world, which is why when you look at overall trade to GDP that’s holding up fine, but who’s trading with whom is certainly changing,” she said. The U.S.

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November 11, 20240 Comments

London Tube strikes called off after Aslef talks with TfL

Planned strikes on the London Underground have been suspended following talks over pay between the Aslef union and Transport for London (TfL). Industrial action was due to begin on Thursday and a walkout was also planned for next Tuesday. Aslef said it had been given a “significantly improved” pay offer by London Underground management and it would discuss that offer with union members on Thursday. Claire Mann, from TfL, said:

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November 11, 20240 Comments

Global public debt will hit $100 trillion by year-end, says IMF

A man walks past signage for the the 2024 IMF/World Bank Annual Meetings outside of the headquarters of the International Monetary Fund in Washington, DC on October 18, 2024.  Daniel Slim | AFP | Getty Images The International Monetary Fund warned Wednesday that the public debt situation worldwide could be more dire than most think, highlighting skyrocketing fiscal deficits in the U.S. and China. Global public debt will rise above

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November 11, 20240 Comments

PM responds to Post Office campaigner after repeated requests

BBC Sir Keir Starmer has responded to a letter from Sir Alan Bates calling for faster compensation payments for postmasters impacted by the Post Office scandal, the prime minister’s spokesman has said. Sir Alan wrote to the PM twice in the past month, urging him to ensure victims receive full financial redress by March next year. The former sub-postmaster told MPs earlier he was still awaiting a response, before the

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November 11, 20240 Comments

China schedules meeting expected to reveal fiscal stimulus details

A general view shows the skyline over the central business district in Beijing on Feb. 28, 2023. Jade Gao | Afp | Getty Images BEIJING — China’s parliament will hold a highly anticipated meeting Nov. 4 to 8, state media said Friday, according to a CNBC translation. Investors have been awaiting news of the gathering of the standing committee of the National People’s Congress, which is expected to announce details

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November 11, 20240 Comments

‘I was moderating hundreds of horrific and traumatising videos’

Getty Images Social media moderators check for distressing or illegal photos and videos which they then remove Over the past few months the BBC has been exploring a dark, hidden world – a world where the very worst, most horrifying, distressing, and in many cases, illegal online content ends up. Beheadings, mass killings, child abuse, hate speech – all of it ends up in the inboxes of a global army

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November 11, 20240 Comments

Russia’s central bank raises key rate to 21% to rein in higher-than-forecast inflation

09 June 2024, Russia, Moskau: A guardhouse of the Kremlin (l) and the Foreign Ministry (M, background) stand in the center of the capital. Photo: Ulf Mauder/dpa (Photo by Ulf Mauder/picture alliance via Getty Images) Picture Alliance | Picture Alliance | Getty Images Russia’s central bank on Friday raised its key interest rate by 200 basis points to 21%, citing consumer price increases considerably above its forecast and warning of ongoing high

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November 11, 20240 Comments

Why flights to Europe are the cheapest they’ve been in years

A tourist takes a photo as the Acropolis’ Propylaea are seen in the background, in Athens, Greece, on June 28, 2024. Elias Marcou | Reuters Flights between the U.S. and Europe have not been this cheap in three years, when many countries were just lifting Covid-19 era rules. Fares are low even for the traditionally slow late-fall and winter months outside of major holidays. “It is brutal to fill seats

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