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Inflation in the United Kingdom will soar to ‘astronomical’ levels over the next year, a leading British think tank has warned, saying such massive inflation will force the Bank of England to raise interest rates higher and for a longer period than previously expected. In a report on Wednesday, the …

Renowned US economist Nouriel Roubini has predicted a severe recession in the United States as the government tries to curb soaring inflation. Roubini told Bloomberg on Monday that a combination of soaring inflation coupled with stagnation would lead to an economic recession in the US and elsewhere. According to the government’s June …

US banking regulators have Bank of America fined $225 million over “botched” handling of jobless benefits during the coronavirus pandemic. The Office of the Comptroller of the Currency (OCC) and the Consumer Financial Protection Bureau (CFPB) said on Thursday the bank had a faulty fraud detection program that improperly froze …

China has increased its crude oil imports from Russia in recent months, importing more than any other country in the month of May since December last year by taking advantage of lower prices in the face of Western sanctions. Chinese customs data released on Monday indicated that its crude oil …

Thousands of South Korean truckers went on strike for a third day on Thursday to protest against the rising fuel prices, disrupting the country’s transportation system and production cycle. This may be the first serious challenge for the new South Korean president, Yoon Seok-youl, who has been in power for …

The administration of US President Joe Biden is considering lifting some tariffs on Chinese products in an effort to combat record-high inflation in the country. US Commerce Secretary Gina Raimondo said on Sunday that President Biden has asked his advisors to look into the possibility of removing or reducing some …

The United States has issued waivers to Spanish and Italian oil companies to receive Venezuelan crude in an attempt to reduce their heavy reliance on Russian energy. Media reports on Sunday said the US State Department issued waivers to Spain’s Repsol SA and Italy’s Eni SpA to begin taking Venezuelan …

A team of researchers led by astronomers in the UNC-Chapel Hill Department of Physics & Astronomy has found a previously overlooked treasure trove of massive black holes in dwarf galaxies.

Soaring inflation across the UK has caused “acute distress” to Britons, Finance Minister Rishi Sunak has said, stressing that the Bank of England must take “decisive action” to get prices back under control. Addressing the House of Commons on Thursday, Sunak was at pains to say that “the high inflation …

The UAE’s Ministry of Health reported on Tuesday the first case of monkeypox, becoming the first Gulf country to detect a case of the disease. The patient is a 29-year-old visitor from a West African country and she is receiving the required medical care in the UAE, WAM added. Monkeypox …

The World Health Organization’s (WHO) members re-elected Tedros Adhanom Ghebreyesus as Director-General by a strong majority for another five years, the president of the World Health Assembly said on Tuesday. The vote by secret ballot, announced by Ahmed Robleh Abdilleh from Djibouti at a major annual meeting, was seen as …

The 2022 World Cup hosted by Qatar is expected to be watched by 5 billion people around the world, FIFA president Gianni Infantino said on Monday. The TV audience for the 2018 World Cup in Russia was a record-breaking 3.5 billion people. Qatar, a small but wealthy Gulf Arab state, …

The World Health Organization does not have evidence that the monkeypox virus has mutated, a senior executive at the U.N. agency said on Monday, noting the infectious disease that has been endemic in the west and central Africa has tended not to change. Rosamund Lewis, head of the smallpox secretariat …

Ukrainian President Volodymyr Zelensky has called for “maximum” sanctions on Russia in a bid to prevent Moscow from continuing its offensive against his country while appealing for more weapons as the military operation heads to its four-month.

Global power grids are about to face their biggest test in decades with electricity generation strangled in the world’s largest economies.

Manchester City retained the English Premier League after coming back from two goals down to beat Aston Villa on the last day of the season.

A handful of cases of monkeypox have now been reported or are suspected in Britain, Portugal, Spain, and the United States. The outbreaks are raising alarm because the viral disease, which spreads through close contact and was first found in monkeys, mostly occurs in the west and central Africa, and …

Russian President Vladimir Putin on Tuesday said the oil sector was undergoing a “tectonic change,” but claimed Europe would be committing “economic suicide” with its sanctions on Moscow over Ukraine. By seeking to phase out Russian energy supplies, Europe will only hurt itself, Putin said, urging state officials to use …

The U.S. Food and Drug Administration on Tuesday authorized the use of a booster shot of Pfizer and BioNTech’s COVID-19 vaccine for children aged 5 to 11, making everyone in the country over the age of 5 eligible for a third shot. The U.S. Centers for Disease Control and Prevention …

The breakthrough experiment sees seeds germinate in lunar samples collected during NASA’s Apollo missions decades ago.