Amazon is to raise the price of its Prime service for UK customers due to higher operating costs.From September, monthly subscriptions will go up £1 to £8.99 and annual membership will rise from £79 to £95.Amazon said the price rise, its first in the UK since 2014, was partly due…
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Bloc says rationing is necessary amid Russian ‘blackmail’ but some member states have rejected the proposal. The European Union’s executive branch has urged member states to cut back on gas usage by 15 percent until March as fears mount that Russia may stop supplying the energy source to the bloc in the…
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Income inequality and wealth disparity have been frequent topics of conversation, even before the pandemic upended the economy. Now, rising inflation and interest rates, and a possible recession on the horizon are bringing these societal divides into sharp focus. In the above visualization, U.S. households are parsed out into a neighborhood…
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China’s economy contracted sharply in the second quarter of this year as widespread coronavirus lockdowns hit businesses and consumers. Gross domestic product (GDP) fell by 2.6% in the three months to the end of June from the previous quarter. Major cities across China, including the major financial and manufacturing centre…
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We’ve covered this topic in the past when the world’s GDP was $88 trillion (2020) and then $94 trillion (2021), and now according to the latest projections, the IMF expects the global economy to reach nearly $104 trillion in nominal value by the end of 2022. Although growth keeps trending upwards, the recovery that was expected…
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IMF funds will help avert a potential default and pave the way for more aid from other institutions, friendly nations. Pakistan has reached a staff-level agreement with the International Monetary Fund, a milestone that would pave the way for the release of an additional $1.2 billion in loans and unlock…
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Billions of dollars a year in corruption by British America Tobacco. The British American Tobacco Company is selling old-priced packs of cigarettes at new prices. After increasing the price in the budget, it has been making more profit by selling old cigarettes at a higher price for a month; At…
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Heathrow Airport has told airlines to stop selling summer tickets, as the UK’s biggest airport struggles to cope with the rebound in air travel. The airport is limiting the number of passengers who can depart each day over the peak summer months to 100,000, 4,000 fewer than currently scheduled. The…
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The price of airline tickets will go up “without doubt” as fuel costs rise, an air industry boss has warned. Oil prices have jumped as economies recover from the Covid pandemic and due to the war in Ukraine. These costs will be passed on to consumers, Willie Walsh, director general…
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Since Russia invaded Ukraine, global oil prices have skyrocketed, prompting some countries to seek imports of discounted Russian crude Sri Lanka’s president says he urged his Russian counterpart to help his cash-strapped island nation import fuel as it faces its worst economic crisis in decades. Short of foreign exchange due…
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