Business

China cuts lending rate as economic data disappoint and Covid cases rise

China cuts lending rate as economic data disappoint and Covid cases rise

China has cut a crucial lending rate in an effort to shore up growth as the world’s second-biggest economy is buffeted by repeated coronavirus lockdowns and a worsening property crisis. The People’s Bank of China on Monday reduced its medium-term lending rate, for one-year loans to the banking system, by 10 basis points to 2.75 …

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South Tyneside mum turned away at check-in after passport rule meant she was rejected from boarding TUI flight

South Tyneside mum turned away at check-in after passport rule meant she was rejected from boarding TUI flight

A South Tyneside mum says she was ‘gutted’ for her little boy after they were not able to fly due to her passport being issued more than ten years ago. Shirelle Quinn and her son Freddy, from West Boldon, were due to fly to Alicante in Spain from Newcastle Airport on Saturday morning. However, when …

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Forget income bonds! I’d buy these 2 high-yield UK dividend shares

Forget income bonds! I'd buy these 2 high-yield UK dividend shares

Image source: Getty Images With the recent volatility in the stock market, it’s easy to see why many investors are turning to low-risk assets like income bonds. But despite the increases in interest rates, these financial instruments still offer meagre returns compared to some UK dividend shares. With that in mind, here are two British …

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Wall Street banks revive trading Russian debt two months after White House economic sanctions

Russian President Vladimir Putin is seen in a meeting on Thursday. Trading in Russian debt has been complicated since Russia invaded Ukraine in February

Several major Wall Street banks have begun offering to facilitate trades in Russian debt in recent days, according to bank documents seen by Reuters, giving investors another chance to dispose of assets widely seen in the West as toxic. Most U.S. and European banks had pulled back from the market in June after the Treasury …

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Amazon could avoid UK tax for two more years thanks to Rishi Sunak’s tax break | Amazon

Amazon could be off the hook for tax in the UK for at least two more years after benefiting from reliefs brought in by Rishi Sunak during the pandemic, a report suggests. The research from the Fair Tax Foundation indicates that the US tech company claimed more than £800m in capital allowances – business expenses …

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European office market faces biggest test since financial crisis

European office market faces biggest test since financial crisis

Europe’s office market faces the toughest conditions since the financial crisis, experts have warned, as rising interest rates and a surge in building costs threaten to choke off its recovery from the pandemic. Higher interest rates and a broader tightening in financial conditions have driven the cost for office owners of servicing their debt above …

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The semiconductor boom: has the UK missed its chance?

The semiconductor boom: has the UK missed its chance?

Richard Rogers’ buildings are known for their inside-out architecture. The Inmos microprocessor factory in Newport, south Wales, completed in 1982, is no exception. Like the Pompidou Centre in Paris and the Lloyd’s headquarters in the City of London, the factory’s services run on the building’s exterior through multicoloured pipework, freeing the chipmaking “clean rooms” of …

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