Britain’s economic crisis is a warning to the world

  Backlink: SPECTATOR Afalling exchange rate and rising bond yields are the typical characteristics of a financial crisis in an emerging market. Those who never forgave the UK for its decision to leave the EU like to remind us of this fact right now. But an emerging market crisis doesn’t even begin to capture what […]

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Denmark Banks Hand Out Blankets to Staff After Cutting Heating to 19 Degrees C

  Backlink: VISIONTIMES Danish banks are handing out blankets to chilly staff members after the government imposed regulations limiting the temperature in commercial buildings to 19 C (66.2 F). Peter Froulund, a spokesperson for Denmark’s sixth-largest bank, Arbejdernes Landsbank, was paraphrased by Bloomberg in a Sept. 22 article as stating that “blankets have been provided to the […]

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Britain to borrow big again to ease energy shock

  Backlink: REUTERS Britain’s new leader, Liz Truss, capped soaring consumer energy bills for two years on Thursday in a package to cushion the economic shock of war in Ukraine that seems likely to cost the country upwards of 100 billion pounds ($115 billion). With Britain facing a lengthy recession sparked by a near quadrupling […]

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German Economy Likely Already in a Recession, Will Last Three Quarters

  Backlink: REUTERS Europe’s largest economy and manufacturing powerhouse is among the most vulnerable to any cut-off in energy supplies or rising costs as its industrial sector relies heavily on Russian gas. The Aug. 29 – Sept. 1 Reuters poll showed Germany would see three consecutive quarters of negative growth, surpassing the definition of a […]

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UK Supermarket Starts Issuing Microloans to Pay for Groceries

  Link: VISIONTIMES British supermarket Iceland has introduced a — for the time being — interest free microcredit system for those having difficulties making ends meet, but critics warn of the potential downsides of the plan. The plan entails handing out a prepaid top-up card to cover the most dire grocery necessities with a small […]

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