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Finance News
Eurozone Interest Rates in Record Increase to Fight Inflation
The European Central Bank has announced a record increase in Eurozone interest rates in an attempt to fight inflation. It’s lifted all of its main rates by ¾ of a percentage and said that a further rise could be expected later this year.
Liz Truss Unveils Plan to Limit Energy Bills
UK’s New Prime Minister has announced plans to tackle the rising energy bills, saying that the typical household energy bill will be capped at £2,500 per year for two years, starting from 1 October 2022.
Russia Blames European Sanctions for Pipeline Shutdown
Russia has announced that it will not resume gas supplies along the Nord Stream 1 pipeline to Europe until sanctions are eased.
Liz Truss Becomes UK’s New Prime Minister
Foreign secretary Liz Truss has beaten ex-chancellor Rishi Sunak in the Tory leadership contest on Monday 5 September and is now officially the Conservative Party’s new leader and the new Prime Minister of the UK.
Isle Of Man Will Freeze Electricity Price Cap Until 2023
The Isle of Man’s government has made the decision to freeze electricity prices until March 2023 to protect people and businesses from spiralling bill costs this winter.
