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Top American economist warns US recession may be ‘long and severe’
Aug 18, 2022 02:00An American economist has warned that the United States is at the cusp of a “long and severe” recession, which he says could bring financial distress "across the board."
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UK inflation tops 10%, highest since 1982
Aug 17, 2022 06:25British consumer price inflation jumped to 10.1% in July, its highest since February 1982, up from an annual rate of 9.4% in June, intensifying the squeeze on households, official figures showed on Wednesday.
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Pentagon contractors in Afghanistan pocketed $108 billion over 20 years (1)
Aug 12, 2022 15:51Pentagon contractors operating in Afghanistan over the past two decades raked in nearly $108 billion—funds that "were distributed and spent with a significant lack of transparency".
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Be warned: Inflation could take British politics to a very dark place indeed
Aug 06, 2022 12:09Britons are to brace for a recession that will see five consecutive quarters of contraction, and a decline in household incomes of 5% by 2024 – the biggest fall since records began more than half a century ago.
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Amid climate crisis, Shell's financial windfall is profiteering at its most grotesque
Aug 06, 2022 12:06We may be in the dying days of the fossil fuel empire, but those companies are enriching themselves like never before, as people die from our climate crisis.
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Turkey agrees to pay for Russian gas in rubles
Aug 06, 2022 10:26Turkish President Recep Tayyip Erdogan has pledged to boost trade with Moscow, saying Ankara is ready to pay for part of Russian gas in rubles.
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UK economy to slip into recession as inflation soars
Aug 06, 2022 06:59Britain is on the brink of a recession as deep as the 1990s and as long as the 2008 financial crisis: a bleak projection by the country’s central bank.
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UK: Trains disrupted in 2nd strike in a week
Jul 30, 2022 10:42Thousands of railway workers in virtually a quarter of Britain’s network have gone on a 24-hour strike, causing yet another “significant disruption” for the second time this week.
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Eurozone inflation hits new record as energy, food prices surge
Jul 29, 2022 15:13Inflation in European countries using the euro currency has once again hit a new record as energy prices go up due to Russia’s military campaign in Ukraine and the coronavirus pandemic.
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US GDP falls for second straight quarter, stoking recession fears
Jul 28, 2022 14:02The American economy has shrunk for the second consecutive quarter amid growing concern the country could be slipping into a recession, according to new federal data.