Connect with us

Economy

Investors divest from UK government bonds at a record pace this autumn

Published

on

uk government bonds

Foreign investors, who own up to 30% of UK government bonds, sold British bonds for a record £23bn (more than $26bn) in the last three months. The main reason was the intensification of the political crisis in the country due to rising energy prices, reports The Times.

“British government bonds are down. That’s why foreign investors have sold British bonds for a record £23bn (more than $26bn) in the last three months. Holders of British bonds reacted in this way to the entry into office of Prime Minister Liz Truss in early autumn and the release of the mini-budget on September 23”, – says the material.

The last time foreign investors panicked in the British stock market was in 2016. Then the authorities of Britain decided to leave the European Union following the results of the popular referendum.

Another reason for foreign investors’ rejection of British bonds was the peculiarities of the monetary policy of the Bank of England, which, until recently, adhered to the tactic of buying up debt receipts. However, now the local currency regulator has abandoned the policy of quantitative easing to inject a certain amount of money to support the economy.

Earlier we reported that diesel stocks in the EU will reach their lowest in 12 years by the spring of 2023.

Economy

Oil Russia ban news: Russia will ban the sale of its oil to countries that have imposed a price ceiling

Published

on

oil Russia ban

Will Russia sell oil to Europe? The administration of President Vladimir Putin is preparing an order prohibiting Russian companies and any trader from buying Russian oil to sell raw materials to countries and companies that have imposed a price ceiling on Moscow. Bloomberg news agency wrote this, citing a report from sources.

“The Kremlin is preparing a presidential decree banning Russian companies and any traders buying national oil from selling it to anyone who participates in the price ceiling,” the publication wrote.

According to the newspaper’s interlocutors, this would prohibit any mention of the price ceiling in contracts for Russian crude, as well as transferring it to countries that have joined the price ceiling for the natural resource.

In the first half of September, the press service of the US Treasury Department said that the USA, together with its allies from G7 (Great Britain, Germany, Italy, Canada, France and Japan) and the European Union (EU) would impose a ban on marine transportation of Russian oil on December 5 and oil products – on February 5.

Earlier we reported that EU negotiations on limiting the prices of Russian oil reached a deadlock today.

Continue Reading

Economy

EU talks on restrictions on Russian crude oil prices today stalled

Published

on

russian crude oil price today

Negotiations between the European Union countries about the “ceiling” of Russian crude oil prices today reached an impasse; Bloomberg reported, according to its sources.

Representatives of the bloc cannot reach an agreement on the ceiling price of Russian oil. According to the agency, the proposed European Commission limit of $65-70 per barrel, Poland and the Baltic countries believe “too generous,” while Greece and Malta, which is actively engaged in transporting fuel, do not want the limit to fall below $ 70. Recall that the Russian response to the oil price cap was negative. The Russian government has officially said that it will only sell oil at market prices.

“We are looking for ways to make this solution work and we are trying to find a common ground to implement it in a perfectly pragmatic and efficient way, while avoiding that it may cause excessive inconvenience to the European Union,” said German Chancellor Olaf Scholz.

Earlier, we reported that the SEC fined Goldman Sachs $4 million for non-compliance with ESG fund principles.

Continue Reading

Economy

More than 50% of Germans said they had given up shopping for new clothes and electronics. Is Germany’s economy failing?

Published

on

is germany's economy failing

Die Welt newspaper cited a survey by the consulting company EY and said that about 56% of Germans who took part in the survey said that they had practically refused to buy new clothes.

Also, 56% of German consumers reported that they now refrain from buying televisions, smartphones, laptops and game consoles. Also, nearly one in two now uses less gasoline, and one in four said they are saving on medications.

What caused the economic crisis in Germany? The main reason is the war in Ukraine and the resulting sanctions by the EU. Also, every second respondent reported that at the moment he could buy only the essentials. According to EY analysts, German households plan to further reduce spending in the coming months. In particular, they plan to save money on food delivery and entertainment.

Earlier, we reported that prices for liquefied natural gas in Asia reached their highest since October.

Continue Reading

Trending

©2021-2022 Letizo All Rights Reserved