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The current price cap for a typical household paying by direct debit for gas and electricity is £1,641
Oil rebounded as fresh US military strikes in Iran clouded the outlook for an interim deal between Tehran and Washington to reopen the Strait of Hormuz, with the talks set to continue for several more days
Ghana’s parliament has passed a bill imposing up to 10-year prison terms for promoting LGBTQ activities
Russia has launched an intense missile and drone attack on Kyiv, shaking buildings across the city center
Rebel authorities say at least 200 people were killed in a landslide at coltan mines in eastern Congo
He will also take part in a meeting of foreign ministers of the so-called Quad - Australia, India, Japan and the US - four democracies seen as a counterweight to China's presence in the Indian Ocean
A household using a typical amount of energy will pay £221 a year more, under the regulator's new price cap
US President Donald Trump on Monday urged Muslim-majority nations across the Middle East and beyond to normalize relations with Israel as part of the emerging Iran peace deal. In a lengthy social media post, Trump listed countries whose leaders he spoke with in a conference call on Saturday about efforts to end the war with Iran. "After all the work done by the United States to try and pull this very complex puzzle together, it should be mandatory that all of these Countries, at a minimum, simultaneously, sign onto the Abraham Accords."
The Warsh era begins with soaring inflation, a Middle East energy shock bleeding into other parts of the economy and colleagues skeptical that rate cuts should come anytime soon. Add on top: Kevin Warsh faces more political pressure to deliver lower rates than any other Federal Reserve chair in recent memory. Why it matters: The 17th Fed chair, sworn in Friday at the White House, inherits a set of economic conditions that make it difficult to justify cutting rates. Despite President Trump's unprecedented pressure on Warsh's predecessor, Jerome Powell, to cut rates, the president struck a different tone on Friday."Honestly, I really mean this: I want Kevin to be totally independent and just do a great job. Don't look at me, don't look at anybody. Just do your own thing and do a great job," Trump said at Warsh's swearing-in ceremony. What they're saying: "Our mandate at the Fed is to promote price stability and maximum employment," Warsh said. "When we pursue those aims with wisdom and clarity, independence and resolve, inflation can be lower, growth stronger, real take-home pay higher, and America can be more prosperous, and no less important, America's place in the world more secure.""To fulfill this mission," he added, "I will lead a reform-oriented Federal Reserve, learning from past successes and mistakes, both escaping static frameworks and models, and upholding clear standards of integrity and performance." The intrigue: Not long before Warsh was officially sworn into the post, Fed governor Christopher Waller gave a notable speech that cemented his hawkish pivot. Just months ago, he was a leading advocate for rate cuts to boost what he saw as a souring labor market. Waller's speech, aptly titled "Policy Risks Have Changed," suggests his view has flipped.Waller said it might be appropriate to strip the Fed's policy statement of its "easing bias" language, aligning with a group of Fed presidents who dissented last month over the inclusion of such a signal. Zoom i
Officials have warned that the tank contains a "highly volatile" substance that could lead to an explosion
A powerful bomb has exploded near a railway track as a train carrying passengers passed through the southwestern Pakistani city of Quetta, wounding more than two dozen people, officials said
The Trump administration announced on Friday new guidance for green card hopefuls in the United States that mandates they must return to their home country before seeking permanent lawful status. The Department of Homeland Security claimed the current policy, which allows immigrants in the country on temporary visas to apply for permanent legal status from […]