A shopper explores a wide selection of fresh produce at an indoor market in Sheffield, UK. In a recent report, the OECD projected that the UK will see the highest inflation rate among all advanced economies this year. Bloomberg | Bloomberg | Getty Images In August, UK inflation unexpectedly dropped to 6.7%, which was below …
Microsoft has submitted a revised proposal to U.K. regulators for its acquisition of American game publisher Activision Blizzard, following the rejection of its initial offer. Nurphoto | Nurphoto | Getty Images LONDON — The competition regulator in the U.K. stated on Friday that Microsoft’s restructured takeover proposal of Activision Blizzard, which was submitted in August, …
LONDON — The Bank of England paused its series of interest rate hikes on Thursday after new data revealed that inflation is currently below expectations. This decision marks the end of 14 consecutive rate increases since December 2021 as the Bank sought to control inflation. In August, the main policy rate reached a 15-year high …
President of the European Central Bank (ECB) Christine Lagarde gestures as she addresses a press conference following the meeting of the governing council of the ECB in Frankfurt am Main, western Germany, on July 27, 2023. Daniel Roland | Afp | Getty Images The European Central Bank (ECB) announced its 10th consecutive hike in its …
The UBS building in Manhattan, New York City, presents a dynamic and modern view. Eduardo Munoz Alvarez | View Press | Corbis News | Getty Images UBS reported a strong second-quarter profit of $28.88 billion, following its acquisition of Credit Suisse. Analysts had projected a net profit of $12.8 billion, making this a significant beat. …
Picture this: a Virgin Atlantic Airways Airbus A350-1000 aircraft gracefully taxis in front of the air traffic control tower at London Heathrow airport in the U.K. Nurphoto | Nurphoto | Getty Images The U.K.’s air traffic control provider faced a technical glitch on Monday, causing disruptions to flights across the country. “We are currently encountering …
Microsoft has submitted a revised deal to U.K. regulators for the acquisition of Activision Blizzard after its initial proposal was rejected. The tech giant faced regulatory challenges in the U.S., Europe, and the U.K. The Competition and Markets Authority in the U.K. confirmed the blockage of the original deal but stated that both Microsoft and …
Russia’s central bank took decisive action on Tuesday by raising interest rates by a significant 350 basis points to 12%, signaling its urgency to curb the rapid depreciation of the country’s currency, the ruble. The move comes amid concerns over the plunging value of the ruble, with President Vladimir Putin’s economic advisor, Maxim Oreshkin, attributing …
ROME – August 7, 2023: On August 7, 2023, the Italian cabinet held a press conference at Palazzo Chigi, where ministers including Carlo Nordio, Adolfo Urso, Matteo Salvini, Francesco Lollobrigida, and Orazio Schillaci announced the approval of a 40% windfall tax on banks’ “excess” profits for 2023 (source: Simona Granati – Corbis/Corbis via Getty Images). …
Silhouettes of laptop users are seen next to a screen projection of Microsoft logo in this photo illustration. Dado Ruvic | Reuters European Union regulators have initiated an antitrust investigation into Microsoft’s practice of bundling its video and chat app, Teams, with other Office products. The European Commission, the EU’s executive arm, believes that these …