Government spending plans ‘a very big risk’, says watchdog

Spending plans outlined in the chancellor’s Autumn Statement represent “a very big fiscal risk”, according to the UK’s official economic forecaster. Richard Hughes, chair of the Office for Budget Responsibility, told MPs on the Treasury Select Committee that spending plans carried a level of “uncertainty”. He explained that much of the spending promised is funded […]

Bank boss concerned over UK growth outlook

The governor of the Bank of England has raised concerns over economic growth as he warned again that interest rates will not be cut in the “foreseeable future”. Andrew Bailey said he was concerned over the UK economy’s potential to grow, adding “there’s no doubt it’s lower than it has been in much of my […]

Sunak welcomes foreign firms’ £29.5bn ‘vote of confidence’

The prime minister will host a group of leading business figures on Monday at Hampton Court to highlight foreign firms’ plans to invest in the UK. Rishi Sunak said £29.5bn of new investment had been promised, which he described as a “huge vote of confidence” in the UK economy. Last week’s Autumn Statement included a […]

Turkey’s central bank raises interest rates to 40%

Turkey’s central bank has raised its main interest rate to 40% as part of a concerted campaign to tackle soaring inflation in the country. The rise, from the previous rate of 35%, was much greater than expected. But Turkey’s central bank suggested rates were approaching the level required to start lowering inflation. Inflation – which […]

Globtec Investment LLC announces divestment of green energy investments to focus on AI development.

Globtec Investment LLC announces divestment of green energy investments to focus on AI development. This strategic shift by Globtec is a significant signal to the growing recognition of the transformative potential of AI. The company’s decision to divest from green energy investments in favor of AI development reflects our belief that AI represents the next […]


We at Globtec are deeply dismayed by the terrible events that have taken place in Israel in recent days. We offer our deepest condolences to the victims’ families and wish a speedy recovery to those injured. We stand in solidarity with the people of Israel and condemn all acts of violence and terror. We believe […]

Why the change of message on Autumn Statement tax cuts?

It looks like the Autumn Statement will now include at least one crowd-pleasing personal tax cut – so why the change of message and which tax could be cut? When I spoke to Jeremy Hunt 10 days ago, just after it was confirmed that the UK economy was not growing, I suggested to him that […]

The big sale of the Real Estate portfolios

Capital management companies may indeed adopt various strategies during times of crisis to enhance their liquidity and capitalize on opportunities. Selling off real estate portfolios is one of the tactics they might employ to achieve these objectives. However, it’s essential to note that the actual actions taken by capital management companies can vary depending on […]


The German economy has been experiencing a severe crisis for several years due to various reasons. The COVID-19 pandemic has significantly impacted the economy by decreasing production, consumption, and investments. Additionally, the war in Ukraine has further increased energy prices, leading to inflation in Germany. The German economy heavily relies on exports, and global uncertainty […]

We are shocked and horrified by the disturbing images and growing details of the violence against the people in Israel.

We are shocked and horrified by the disturbing images and growing details of the violence against the people in Israel. Our deepest prayers are with the families who have lost loved ones, and we stand in solidarity with all Israelis. There are no words to describe what has been done, and we condemn in the […]

Inflation slows to 4.6% as government says pledge met

UK inflation fell sharply in October to its lowest rate in two years, largely due to lower energy prices. Inflation, which measures the rate at which consumer prices rise, dropped to 4.6% in the year to October, down from 6.7% the month before. The government says its pledge to halve inflation by end of the […]

Price paid for offshore power to rise by 66%

The price paid to generate electricity by offshore wind farms has been raised by 66% as the government tries to entice energy firms to invest. It comes after an auction for offshore wind projects failed to attract any bids, with firms arguing the price set for electricity generated was too low. The government has lifted […]


The wind energy sector has been a major source of renewable energy growth in recent years. However, the US and European wind sectors have been facing some challenges that have led to a retreat of investors. Reasons for the Retreat There are a number of reasons why investors are retreating from the US and European […]

UK inflation falls sharply to 4.6%

UK inflation fell sharply in October to its lowest rate in two years, largely due to lower energy prices. Inflation, which measures the rate at which consumer prices rise, dropped to 4.6% in the year to October, down from 6.7% the month before. The figure means a government target to halve inflation by end of […]

The floating desalination machines powered by the waves

“The ocean is an unforgiving place,” says Susan Hunt. “But our technology is designed to operate there – it goes up and down in the waves, all day and all night.” Ms Hunt is chief innovation officer for a Canadian start-up called Oneka Technologies. It has developed floating desalination systems that turn seawater into fresh […]

Australian PM Albanese hails progress with China after Xi talks

Australian PM Anthony Albanese says there has been “significant progress” in relations with China after talks with President Xi Jinping in Beijing. Mr Albanese, who landed in Shanghai on Saturday, is the first Australian leader to visit China since 2016. The four-day state visit is seen as a key point in thawing relations, after a […]

ECB Can’t Close Door to Further Rate Hikes, Schnabel Says

The European Central Bank’s fight against inflation might require another increase in interest rates, according to Executive Board member Isabel Schnabel. “After a long period of high inflation, inflation expectations are fragile and renewed supply-side shocks can destabilize them, threatening medium-term price stability,” she said in a speech Thursday in St. Louis. “This also means that we cannot close […]

Shell posts $6.2bn profit as oil prices rise again

Oil and gas giant Shell has posted strong profits helped by oil prices rising again. The energy giant reported earnings of $6.2bn (£5.1bn) between July and September, up sharply on the previous quarter. Profits were down from $9.4bn in the same period last year, however, when Russia’s invasion of Ukraine caused a spike in oil […]

World Bank warns oil prices could reach $150 a barrel

Oil prices could rise to more than $150 a barrel if the conflict in the Middle East escalates, according to the World Bank. A drawn-out war in the region could drive big rises in energy and food prices, just a year after prices spiked due to the Russian invasion of Ukraine. For now oil prices […]

New licences granted for North Sea oil and gas projects

The UK government has granted 27 oil and gas licences for projects in the North Sea. The licences have been issued for projects in central and northern areas of the North Sea and west of Shetland to allow oil and gas resources to be explored and developed. The energy security secretary said the move was […]

Cap on bankers’ bonuses to be scrapped

The cap on bankers’ bonuses is being removed as part of a post-Brexit shake-up of UK financial rules, it has been confirmed. The decision was first announced by former chancellor Kwasi Kwarteng last year, who said it would make London a more attractive place to do business. It was one of the few policies from […]

UK house prices to fall until 2025, predicts Lloyds

The UK’s largest mortgage lender expects house prices to fall this year and next before rising in 2025. Halifax-owner Lloyds Banking Group predicts prices will drop 4.7% this year and by a further 2.4% in 2024 before recovering. Lenders have blamed higher borrowing costs for a slowdown in house sales. But the average house price […]

A property price rise in the UK could be the Tories’ last election trump card

Property prices will go back up next year. Not by much. And not by enough for those who chart their wellbeing by the value of their home. In the pantheon of property price recoveries, it will rank among the weaker ones, though the Conservative party will be hoping it provides a lifeline. That’s the view […]

Government borrows less than expected in September

Government borrowing in September was lower than most economists had expected. Borrowing – the difference between spending and tax income – was £14.3bn last month, according to the Office for National Statistics (ONS). This was £1.6bn less than a year earlier, but the sixth highest borrowing in September since monthly records began in 1993. Economists […]

Country Garden: China property giant default fears grow

China’s biggest private property developer Country Garden is believed to have become the latest property giant to default on its overseas debt. The firm has $11bn (£9bn) in debt and another $6bn in onshore loans, and a default would mark one of the country’s biggest corporate debt restructurings. Its possible default adds to concerns about […]

Brexit: ‘Call us’ on trade, says German finance minister Christian Lindner

The German finance minister has extended a surprise invite to the UK to take “new steps” on post-Brexit trade relations with the European Union (EU). In a BBC interview, Christian Lindner said: “If you want to intensify your trade relationship with the EU – call us!” A government spokesperson said the UK was open to […]

As Israel Bombards Gaza, Fears of Humanitarian Disaster Mount

GAZA CITY—More than a quarter-million Gazans fled their homes and some tried to escape the strip for Egypt as Israeli forces launched new rounds of airstrikes in the enclave and exchanged fire with militants in Lebanon. The bombardments following Saturday’s devastating attack by Hamas—which killed more than 1,200 Israelis—raised concerns about an escalating humanitarian crisis in […]

Israel’s Netanyahu Forms Unity Government to Direct War

TEL AVIV—Israeli Prime Minister Benjamin Netanyahu agreed to form a national unity government that includes members of the opposition and former military leaders, a move aimed at reassuring a country still reeling from the deadly attack by Hamas militants that killed 1,200 Israelis. Netanyahu agreed on Wednesday to form a government with Benny Gantz, head of the National Unity party. […]

Hamas Militants Behind Israel Attack Raised Millions in Crypto

Hamas’s lightning strike on Israel last weekend has raised the question how the group financed the surprise operation. One answer: cryptocurrency. During the year leading up to the attacks, three militant groups—Hamas, Palestinian Islamic Jihad and their Lebanese ally Hezbollah—received large amounts of funds through crypto, according to a review of Israeli government seizure orders and blockchain […]

Threat to Israel From Hezbollah and Iran Raises Risk of Wider Conflict

As Israel combats the Palestinian Islamist movement Hamas in the Gaza Strip, it faces the strategic question of whether Iran will direct its other protégé, the Lebanese Hezbollah, to open a second front in the north. Hezbollah and Israel have already engaged in limited artillery exchanges that, according to the militant group, on Monday killed three of its fighters. […]