Giorgia Meloni and far-right Brothers of Italy top vote

The political leader of the Brothers of Italy, Giorgia Meloni. Marco Cantile | Light rocket | Getty Images Italians are on track to elect the country’s first female prime minister and the first government led by the far right since the end of World War II. Giorgia Meloni’s Fratelli d’Italia (Brothers of Italy) party will … Read more

British pound plunges, bonds fall after tax cut announcement

Sterling hit its lowest level since July 1, 2020. Matt Cardy | Getty Images The controversial British pound fell 3% against the dollar on Friday after the new British government announced a radical economic plan to boost growth. Sterling had fallen to $1.0923 at 4:20 p.m. London time, increasing the losses it incurred after the … Read more

UK government proposes tax cuts as country braces for recession

British Chancellor Kwasi Kwarteng outside 10 Downing Street. Britain will cut the cost of electricity and gas for businesses. Rob Pinney | Getty Images News | Getty Images LONDON — The new British government on Friday announced a sweeping program of tax cuts and investment incentives, as Prime Minister Liz Truss aims to boost the … Read more

Turkey cuts interest rates again despite 80% inflation

The number of Russian tourists to Europe dropped dramatically during the summer, but rose in several other destinations, including Turkey (here). Onur Dogman | Sopa images | Light rocket | Getty Images Turkey’s central bank surprised markets again with its decision Thursday to cut its key interest rate, despite inflation in the country soaring above … Read more

Bank of England raises, says UK may already be in recession

The Bank of England raised interest rates by 0.5 percentage point on Thursday. Vuk Valcic | SOPA images | Light Rocket | Getty Images LONDON — The Bank of England voted Thursday to raise the key rate from 1.75% to 2.25%, lower than the 0.75 percentage point rise many traders had expected. Inflation in the … Read more

Zelenskyy demands punishment for Russia’s war in Ukraine, describes horrific war crimes in stunning UN speech

Ukrainian President Volodimir Zelenskyy is pictured on video screens as he delivers a recorded speech before the 77th session of the United Nations General Assembly at UN Headquarters in New York, September 21, 2022. Fresh Mike | Reuters UNITED NATIONS – Ukrainian President Volodymyr Zelenskyy demanded that world leaders hold Russia responsible for the months-long … Read more

Putin announces partial military mobilization

Russian President Vladimir Putin speaks at a meeting on the Kremlin military-industrial complex, September 20, 2022, in Moscow, Russia. Contributor | Getty Images News | Getty Images Russian President Vladimir Putin on Wednesday announced a partial military mobilization in Russia, putting the country’s population and economy into wartime as Moscow’s invasion of Moscow continues. In … Read more

Queen Elizabeth II’s doctors worry about her health, Buckingham Palace says

Queen Elizabeth II awaits the reception of newly elected Conservative Party leader Liz Truss at Balmoral Castle on September 6, 2022 in Aberdeen, Scotland. Wpa pool | Getty Images News | Getty Images London – Doctors are concerned about the health of Britain’s Queen Elizabeth II and have advised that she remain under medical supervision, … Read more

Liz Truss pledges action against rising energy bills in UK Prime Minister’s maiden speech

Liz Truss pledged to tackle sky-high energy bills in her maiden speech as UK Prime Minister outside 10 Downing Street. Leon Neal/Staff/Getty Images LONDON – Britain’s new prime minister, Liz Truss, gave her maiden speech on Tuesday, promising to tackle rising energy bills and the cost of living crisis in the coming days. “I will … Read more

OPEC+ surprises energy markets with small production cut

The OPEC logo on a sign at the group’s headquarters in Vienna, Austria. Bloomberg | Bloomberg | Getty Images A group of some of the world’s most powerful oil producers agreed Monday on a minor cut in production starting next month, surprising energy markets at a time of significant turmoil. OPEC and non-OPEC partners, an … Read more