Governments all across the world have been urged by UN Secretary General António Guterres to tax the excessive profits that oil and gas companies make from the high prices of fossil fuels. At a press conference held at the UN's New York headquarters, he remarked, "I urge states to tax these exceptional earnings." The fact that oil and gas companies are making "the largest profits in history...

In order to offset a rapid rise in energy prices, the EU will propose to set higher levies on power providers who do not utilize gas, the Financial Times reports, citing a document from the European Commission. As part of an emergency package of measures to address skyrocketing energy prices, Brussels "is set to impose higher-than-anticipated charges on non-gas power suppliers." Additionally,...

According to five unnamed sources familiar with the matter, the European Central Bank (ECB) may increase its key interest rate to 2% or higher to combat inflation, according to a report by Reuters. They contend that the record-high inflation in the euro zone is forcing the ECB leaders to act this way. The sources claim that an increasing number of lawmakers believe it is likely that the ECB will...

According to Bloomberg, major American banks plan to soon integrate the Indian bond market in world indices. The agency claims that Morgan Stanley intends to announce India's inclusion in the JPMorgan Chase & Co. emerging market bond index in the middle of September. The real inclusion in this scenario will take place in the third quarter of 2023. A similar announcement is anticipated to be...

At its meeting on Thursday, the Governing Council of the European Central Bank (ECB) increased its benchmark interest rate from 0.5% per year to 1.25% by 75 basis points, and anticipates similar hikes at the following few meetings. "The three main interest rates of the ECB will increase by 75 basis points as per the Governing Council's decision.   As a result, starting on September 14,...

According to a projection from the Brazilian mining corporation Vale, there would be a 44% increase in global demand for nickel by 2030 compared to this year. This is because electric vehicle battery producers are in high demand, notes Reuters. The company said in a statement that "the energy transition is expected to cause the demand for nickel to expand quickly this decade." The new prediction...

According to a news statement from the European statistical agency Eurostat, retail sales in the euro zone increased 0.3% in July compared to June. DailyFX surveyed analysts who believed the number increased by 0.4%. Retail sales in the euro region decreased 0.9 percent in July on an annualized basis. Only a 0.7% fall had been anticipated by analysts. Retail sales in the EU increased 0.3% from...

British investors withdrew a record 1.93 billion pounds ($2.23 billion) from equities funds last month, according to the Calastone Stock Association. This net outflow amount was higher than the peaks seen following the 2016 Brexit vote in Great Britain. According to Edward Glyn, head of global markets at Calastone, "markets are pricing in the possibility that inflation could be extremely harmful...

For the first time since the middle of the 1980s, the global bond market has entered a negative period, according to Bloomberg. The reason was a rapid increase of interest rates by global central banks in response to acceleration of inflation. According to Bloomberg, the global bond market has entered a bearish phase for the first time in 40 years as a result of central banks' commitment to...