The European Central Bank (ECB) on Thursday raised interest rates by a half percentage point to 3 percent, sticking to its previous guidance even as fears of a new financial crisis roiled markets in recent days.[0] The decision came as the central bank acknowledged inflation is projected to remain too high for too long.[1] In […]
Continue readingThe European Central Bank (ECB) increased interest rates by a half percentage point on Thursday, sticking to the plans set out last month despite financial stability concerns brought about by the collapse of Silicon Valley Bank in the U.S.[0] The ECB’s statement stated that inflation is projected to remain too high for too long and […]
Continue readingThe John Lewis Partnership has reported a £78 million loss for the financial year ending 28 January 2023, with total partnership sales down 2% to £12.25 billion and Waitrose sales down 3% to £7.31 billion.[0] Despite John Lewis sales edging up by 0.2% to £4.94 billion, the huge loss meant that no bonus payment could […]
Continue readingThe US Department of Labor reported on Thursday that initial jobless claims rose to 211,000 in the week ending March 4, a 21,000-increase from the previous week’s unrevised level of 190,000.[0] This marks the highest level since November 2021 and the largest increase in five months.[1] Continuing claims, which include people who have received unemployment […]
Continue readingCredit Suisse announced Wednesday that it would borrow up to 50 billion Swiss Francs ($53.7 billion) from the Swiss National Bank in order to strengthen liquidity. Investors sent shares in the second biggest Swiss lender crashing by as much as 30% Wednesday.[0] The move comes amid turmoil in the banking sector, and has caused volatility […]
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