UK mini-budget shakes the stock market, benefits the wealthy Politics News

UK mini-budget shakes the stock market, benefits the wealthy  Politics News

The British government has unveiled a new mini-budget in the parliament, intending to cut household taxes and energy bills while driving economic growth. In what represents the most significant tax cut budget since 1972, the new finance minister Kwasi Kwarteng’s sweeping new budget will see cuts to national insurance, stamp duty and the top tax … Read more

Bank of England hikes, says UK may already be in recession

The Bank of England raised rates by 0.5 percentage points Thursday. Vuk Valcic | SOPA Images | LightRocket | Getty Images LONDON — The Bank of England voted to raise its base rate to 2.25% from 1.75% on Thursday, lower than the 0.75 percentage point increase that had been expected by many traders. Inflation in … Read more

Fed attacks inflation with another big rate hike and expects more

WASHINGTON (AP) — Intensifying its fight against high inflation, the Federal Reserve raised its key interest rate Wednesday by a substantial three-quarters of a point for a third straight time and signaled more large rate hikes to come — an aggressive pace that will heighten the risk of an eventual recession. The Fed’s move boosted … Read more

Ukraine’s military gains could deepen Russia’s economic problems

Russian President Vladimir Putin attends a meeting of heads of the Shanghai Cooperation Organization (SCO) member states at a summit in Samarkand, Uzbekistan September 16, 2022. Foreign Ministry of Uzbekistan via Reuters Ukraine’s counteroffensive, which has seen vast swathes of Russian-occupied territory get recaptured, could be compounding Russia’s economic troubles, as international sanctions continue to … Read more

Ukraine’s military gains could deepen Russia’s economic problems

Russian President Vladimir Putin attends a meeting of heads of the Shanghai Cooperation Organization (SCO) member states at a summit in Samarkand, Uzbekistan September 16, 2022. Foreign Ministry of Uzbekistan via Reuters Ukraine’s counteroffensive, which has seen vast swathes of Russian-occupied territory get recaptured, could be compounding Russia’s economic troubles, as international sanctions continue to … Read more

Maritime gas dispute risks conflict between Lebanon and Israel Oil and Gas News

Beirut, Lebanon – Karish is a relatively small untapped gas field in the Eastern Mediterranean Sea, but its location between Israel and Lebanon means that it could lead to a new conflict between the two neighbors. While Lebanon’s President Michel Aoun said on Monday that United States-brokered negotiations over the exploration of Karish had reached … Read more

How much does it cost to visit Bhutan? $200 a day plus travel expenses

The Kingdom of Bhutan is reopening to tourists on Friday with a hefty hike to its daily tourist tax. Before the country closed its borders in March 2020 in response to the Covid-19 pandemic, travelers to Bhutan were required to pay a minimum daily package rate of $200-$250 — depending on the time of year. … Read more

How much does it cost to visit Bhutan? $200 a day plus travel expenses

The Kingdom of Bhutan is reopening to tourists on Friday with a hefty hike to its daily tourist tax. Before the country closed its borders in March 2020 in response to the Covid-19 pandemic, travelers to Bhutan were required to pay a minimum daily package rate of $200-$250 — depending on the time of year. … Read more

EXPLAINER: How the strong US dollar can affect everyone

NEW YORK — The buck isn’t stopping. The value of the US dollar has been on a tear for more than a year against everything from the British pound across the Atlantic to the South Korean won across the Pacific. After rising again Friday, the dollar is near its highest level in more than two … Read more

“Woman-Ochre” de Kooning’s painting from theft to its return home

It was a heist that was as brazen as it was simple. On the morning of Nov. 29, 1985, a couple entered The University of Arizona Museum of Art in Tucson, Arizona. Within minutes, “Woman-Ochre” — a painting by the Dutch-American artist Willem de Kooning — was gone. The museum’s curator Olivia Miller described the … Read more