Business and Economy

Business and Economy Latest News

UK inflation in shock rise, dashing rate cut hopes
UK inflation in shock rise, dashing rate cut hopes
by  AFP

British annual inflation unexpectedly picked up in December, data showed Wednesday, dashing hopes of an early cut to UK interest rates and prolonging a cost-of-living squeeze before an election. The BoE has lifted interest rates to a 15-year peak in a bid to dampen inflation, worsening a cost-of-living crisis as commercial lenders mirror the higher loan costs to businesses and consumers.

BP picks new CEO following Looney sacking
BP picks new CEO following Looney sacking
by  AFP

British oil giant BP on Wednesday named veteran employee Murray Auchincloss as chief executive officer following a period as interim boss in the wake of Bernard Looney's sacking. "BP announced today that the board has appointed Murray Auchincloss as chief executive officer with immediate effect," the group said in a statement, sticking to a policy of promoting from within.

Kerry says to work on climate after exiting envoy role
Kerry says to work on climate after exiting envoy role
by  AFP

Veteran US diplomat and politician John Kerry said Wednesday he planned to keep working to address climate change including by encouraging the private sector as he steps away from his envoy role. "Now we have to make sure that the private sector people really step up," he said.

Energy

Money

Industry

Technology

Economy