Bank of England hikes interest rates by 25 basis points after inflation surprises
The Bank of England on Thursday hiked interest rates to their highest level since 2008 as it grapples with persistent high inflation.
Toshiba board accepts Japan Industrial Partners’ $15 billion buyout proposal
Toshiba Corp has accepted a buyout offer from a group led by private equity firm Japan Industrial Partners.
Zurich to legalize consumption and sale of cannabis on trial basis
Switzerland has approved plans to legalize the sale and consumption of cannabis in Zurich in a trial designed to assess the economic and social benefits of regulating the drug.
Europe’s rush to LNG could turn into ‘world’s most expensive and unnecessary insurance policy’
Several European countries have announced new LNG projects or the expansion to existing ones in response to shutdown of Russian gas pipelines.
Ukraine wants to win China over as Russia’s invasion continues. Some say it shouldn’t bother trying
Analysts say Kyiv could be wasting its time looking to Beijing for support as Russia’s invasion continues into a second year.
Swiss central bank hikes interest rates by 50 basis points despite Credit Suisse turmoil
The Swiss central bank has increased rates by 50 basis points, taking its policy rate to 1.5%.
Swiss regulator defends controversial $17 billion writedown of Credit Suisse bonds
Swiss regulator FINMA on Thursday defended its decision to instruct Credit Suisse to write down its AT1 bonds — a controversial part of the lender’s emergency sale to UBS.
China will make up nearly 40% of the rise in global oil demand in 2023, Wood Mackenzie says
The research firm said in a report it views China’s reopening as the “single biggest demand driver” for a recovery in oil demand this year.
European lawmakers are quietly miffed at U.S. regulators over SVB’s collapse
Regulators and officials across the European Union have been nervous about potential contagion to their own banking sector.
CNBC Daily Open: Jerome Powell flipped the script
The Federal Reserve hiked interest rates by a quarter point, as markets had expected. They didn’t expect Powell’s warnings on the economy.
