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European stocks, euro tumble as Russia fuels energy crisis
European stocks, euro tumble as Russia fuels energy crisis
by  AFP

European stocks tumbled Monday and the euro hit a new 20-year dollar low on energy crisis fears, after Russia said it would not restart gas flows to Germany and effectively most of the continent. The gas crisis also hit the pound, which hit a post-pandemic low of $1.1444.

New UK PM Truss inherits economy headed for recession
New UK PM Truss inherits economy headed for recession
by  AFP

New UK Prime Minister Liz Truss inherits an economy set to enter recession before the end of the year, with double-digit inflation forecast to soar further. An emergency budget is expected within weeks, as the Bank of England (BoE) predicts that the UK will enter a year-long recession by the end of 2022.

Famine 'at the door' in Somalia: UN humanitarian chief
Famine 'at the door' in Somalia: UN humanitarian chief
by  AFP

The UN's humanitarian chief warned on Monday that drought-ravaged Somalia was on the brink of famine and time was running out to save lives. "Famine is at the door and we are receiving a final warning," Martin Griffiths, head of the UN's Office for the Coordination of Humanitarian Affairs (OCHA), told a press conference in Mogadishu.

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