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Germany triggers ‘alarm’ stage of emergency gas plan as Putin cuts supplies

Ggood morning. The Government borrowed more than forecast in May, highlighting risks to the public finances as the cost-of-living crisis threatens to tip Britain into a recession. Rishi Sunak borrowed another £14bn last month, which was £2bn higher than economists had forecasts. Debt interest payments hit £7.6bn – the highest for any May on record, …

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European stocks open to close as recession fears continue

LONDON — European stocks are expected to open lower Thursday, as global markets see renewed volatility after a brief recovery following last week’s tumultuous trading. The UK’s FTSE index is seen opening 38 points lower at 7,053, Germany’s DAX 79 points lower at 13,079, France’s CAC 40 down 40 points at 5,879, and Italy’s FTSE …

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Bank of England accused of ‘bottling’ interest rates after eighth new inflation forecast

The boss of Halfords has accused the Government of taking a “backwards step” with its decision to end the plug-in car grants scheme. The Government confirmed earlier this week that it was scrapping the £1,500 subsidy for purchases of new electric cars, saying it would “refocus” funding to encourage users of other vehicles to make …

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Fed unveils largest US interest rate rise in 28 years

Central banks have a case for front-loading interest rate rises as they walk a “fine line” between controlling inflation and supporting the economic recovery, Mark Carney has said. The former Governor of the Bank of England told Bloomberg: “Central bankers need to catch up to their growing. They’ve been behind the curve, they’ve acknowledged this. …

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