Because of the fluctuating energy prices, energy businesses are urging the UK government to increase access to state support for the sector, according to the Financial Times. In response to fluctuating wholesale energy market prices, the UK Treasury and the Bank of England introduced a £40 billion (about $49 billion) liquidity support program for energy businesses in October. Energy UK, a trade...

De Guindos, a spokesman for the ECB, declared that the watchdog would keep raising interest rates. Luis de Guindos, vice president of the European Central ECB, stated on Monday that the bank would keep raising interest rates to combat inflation. "There will be further interest rate increases, but I'm not sure how much more. If I'm being completely honest, I have no idea." He continued by saying...

Global coal consumption is up 1.2% this year compared to 2021, setting a new record. According to the International Energy Agency (IEA) report, more than 8 billion metric tonnes of coal were used globally in a single year, which is the record. The previous global coal consumption record was set in 2013. The figure is expected to "remain at roughly the same level in the coming years, given the...

The International Energy Agency (IEA) increased its prediction for the world's oil demand in 2022 by 140,000 bpd. The figure is now expected to reach 2.3 million barrels per day (bpd). In its December report, the agency noted a 100,000 bpd increase in the prediction for 2023, to 1.7 million bpd. After five months of expansion, the total world oil supply decreased by 190,000 bpd to 101.7 million...

According to the IMF, global private and governmental debt will experience the largest decline in 70 years relative to global GDP in 2021, after hitting historic highs during the pandemic. According to the International Monetary Fund (IMF), the global debt to GDP ratio will experience its biggest decline in 70 years in 2021. The debt increased further to $235 trillion in dollars. According to...

In November, price growth in the United States dropped to its lowest level since the year's began. Prices increased 7.1% over the previous year, above analyst expectations. Investors are confident that the Fed would relax its stance and that the stock market will rise in the New Year as a result of the decrease in inflation. Consumer prices in the US grew by 7.1% in November, according to data...

The U.S. Air Force has given 93 businesses contracts for technology development totaling $900 million each. The country's defense agency reported the U.S. Air Force has agreements worth up to $900 million with 93 companies to develop cutting-edge technology in the industry. According to a statement issued by the Pentagon, "the U.S. Air Force has contracted with each of the 93 companies for up...

According to the TV station Sky News, despite the coal mining agreements signed a year ago at the COP26 climate summit, the UK has permitted construction of a new coal mine in the county of Cumbria in the northwest of England. On April 24, it was announced that a mine would be built in the county of Cumbria to produce coking coal, which is needed to make steel. In order to lessen reliance on...

Major U.S. indices decreased on Tuesday. Despite warnings of a potential recession next year, investors are anxious about the probability of a lengthier cycle of interest rate increases. The S&P 500 and Nasdaq Composite suffered greatly as a result of the decline in Meta stocks. According to the WSJ, EU watchdogs concluded that Facebook and Instagram should not get users' permission before...