The UK’s main opposition Labour Party has proposed extending Britain’s windfall tax on oil and gas companies, saying the proceeds should be used to fund a total freeze on energy bills over the winter.
Australia will return to 25-basis point interest-rate increases, veteran economist Saul Eslake said, rejecting a consensus that maintains further outsized moves are needed to slow inflation.
With high natural gas prices showing no signs of abating and supplies becoming harder to obtain, cheaper and dirtier alternatives to the fuel are looking increasingly tempting for energy-hungry buyers.
New Zealand is poised to keep spearheading a global tightening cycle to rein in spiraling inflation, even as signs emerge that its rapid-fire interest-rate increases are beginning to cool the economy.
Deputy President William Ruto is slightly ahead of former Prime Minister Raila Odinga in Kenya’s presidential race, according to provisional results from the electoral body, which has verified and tallied votes from more than half of the nation’s constituencies.
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