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UK energy watchdog proposes electricity price checks

UK energy watchdog proposes electricity price checks

Price control starts April 1 The proposals are subject to statutory consultation Should increase the use of renewable energy Green energy would be supported by nuclear, hydrogen LONDON, Nov 30 (Reuters) – Britain’s energy watchdog has proposed price controls for electricity distribution companies for the next five years, which it says will boost investment in …

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China's industrial profits fall further as COVID woes weigh on economy

China’s industrial profits fall further as COVID woes weigh on economy

Industrial profits from January to October -3.0% per year compared to -2.3% in January to September Risks from national COVID outbreaks and global recession flagged BEIJING, Nov 27 (Reuters) – Chinese industrial firms saw their overall profits decline further in the January-October period as COVID-19 outbreaks erupted and cities imposed new anti-corruption measures. viruses, including …

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Turkey in final-stage talks for up to $10 billion in funding from Qatar - sources

Turkey in final-stage talks for up to $10 billion in funding from Qatar – sources

ANKARA, Nov 25 (Reuters) – Turkey and Qatar are in the final stages of Doha talks to provide up to $10 billion in funding to Ankara, including up to $3 billion by the end of this year, two senior Turkish officials and another source told Reuters. One of the officials said the full funding could …

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Exclusive: Bankman-Fried's FTX Parents Bought Bahamian Property Worth $121M

Exclusive: Bankman-Fried’s FTX Parents Bought Bahamian Property Worth $121M

FTX unit purchased 7 condos in upscale resort for “key personnel” Bankman-Fried’s parents named owners of $16.4 million vacation home Bankman and Fried tell Reuters: Seeking to return the deed to FTX NEW PROVIDENCE, Bahamas, Nov 22 (Reuters) – Sam Bankman-Fried’s FTX, his parents and top executives of the failed cryptocurrency exchange have purchased at …

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FTX Collapse Shows Need for Crypto Regulation, Says Bank of England

FTX Collapse Shows Need for Crypto Regulation, Says Bank of England

LONDON, Nov 21 (Reuters) – The implosion of cryptocurrency exchange FTX shows the need to bring the crypto world into the regulatory framework, the Deputy Governor of the Bank of England said on Monday. Jon Cunliffe. FTX, which filed for protection in the US bankruptcy court, said it owed its 50 biggest creditors nearly $3.1 …

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Lula to begin job interviews for Petrobras overhaul

Lula to begin job interviews for Petrobras overhaul

Nov 21 (Reuters) – Brazil’s President-elect Luiz Inacio Lula da Silva is to begin talks with candidates for the leadership of oil firm Petrobras this week, sources familiar with the talks said, kicking off a difficult few months for the state-controlled company. Lula, who takes office on January 1, has already announced plans for a …

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Dollar gains as China COVID concerns spur safe-haven buying

Dollar gains as China COVID concerns spur safe-haven buying

SINGAPORE, Nov 21 (Reuters) – The U.S. dollar was firmly higher against major currencies on Monday, while the Chinese yuan fell as sentiment soured on rising COVID cases and tighter restrictions in some cities of the world’s second largest economy. China’s capital, Beijing, reported two deaths on November 20, with the city’s most populous district …

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EU set to release billions in funds for Hungary - sources

EU set to release billions in funds for Hungary – sources

Funds worth 10% of Hungary’s 2022 GDP estimate at stake Orban seeks EU deal as Hungarian economy struggles Funds frozen due to democratic deficits in Hungary The EU executive is expected to take its next decision on November 29 BRUSSELS, Nov 17 (Reuters) – The European Union executive is on track to release billions of …

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UK to turn the page on 'Trusonomics' with budget plan

UK to turn the page on ‘Trusonomics’ with budget plan

The new government wants to restore confidence in the British economy Hunt warns of more pain as recession likely underway The budget will include tax increases and spending cuts Britain is the only G7 country whose economy is still below pre-Covid size LONDON, Nov 17 (Reuters) – Finance Minister Jeremy Hunt will on Thursday bury …

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