Bank of England set for biggest rate hike in 33 years

Newsletter Nov 3, 2022 [ International Business Times]( [Bank of England set for biggest rate hike in 33 years]( The move would mirror aggressive rate-tightening by central banks worldwide as economies battle the highest prices in decades. [UK considering delay to Northern Ireland elections, Ireland minister says]( The UK government could change the law to delay elections in Northern Ireland, the Republic of Ireland's foreign minister said on Wednesday after a meeting with the British minister for the region.  [Learn more about Jeeng]( [UK's Sunak U-turns on attending COP27 in Egypt]( Britain's new prime minister Rishi Sunak on Wednesday announced he will join the UN climate conference in Egypt after all, having provoked anger for refusing to attend the global event early into his tenure. [Britain to go it alone for now on reining in 'shadow banking']( Britain, rattled by the recent near meltdown of some pension funds, is pressing ahead to tighten oversight of the so-called shadow banking sector, taking the lead ahead of possible co-ordinated international action. [Albania tells Britain: Do not blame us for your immigration problems]( Albania's prime minister accused Britain on Wednesday of using his country's citizens as scapegoats for its failed immigration policies after derogatory comments by British ministers about a rise in the number of Albanian asylum-seekers. [Dollar gains as traders gird for higher U.S. rates]( The dollar was on the front foot on Thursday after Federal Reserve Chair Jerome Powell signalled U.S. [Oil slips as dollar firms, but supply worries check losses]( Oil futures fell early on Thursday as the dollar firmed on the Federal Reserve's hawkish stance, but concerns over looming supply risks kept a floor under prices. [Germany primes energy price cap as bills soar]( Germany on Wednesday put the finishing touches on an energy price cap. [Energy crisis chips away at Europe's industrial might]( Europe needs its industrial companies to save energy amid soaring costs and shrinking supplies, and they are delivering - demand for natural gas and electricity both fell in the past quarter. [Ukraine conflict, sanctions set to blow hole in Russia's finances]( The cost of Russia's military mobilisation and the impact of Western sanctions are set to blow a hole in the government's budget forecasts and drain Moscow's reserves to their lowest level in years, according to analysts' latest calculations. [Finland and Sweden hopeful Hungary will ratify NATO applications]( Finland's president Sauli Niinisto said on Wednesday he was counting on Hungary to ratify the Nordic country's NATO application after he had talked on the phone with Hungarian Prime Minister Viktor Orban. [COP 27- U.S. House Republicans to press need for minerals at climate talks]( Republican U.S. representatives heading to U.N. climate talks in Egypt plan to discuss developing critical minerals used in everything from nuclear energy and electricity transmission to batteries for electric vehicles, the head of the delegation said on Wednesday. [Ferrari sales, earnings guidance shift higher]( Italian luxury sports car manufacturer Ferrari said Wednesday it had raised its 2022 earnings guidance after posting double-digit gains in sales and earnings. [Aston Martin losses deepen despite rising car sales]( Aston Martin has been knocked off track also by a collaboration with troubled electric car battery startup Britishvolt. [Ukraine grain export deal resumes days after Russia suspends its involvement]( Russia said on Wednesday it would resume its participation in a deal freeing up grain exports from Ukraine, reversing a move that world leaders warned would increase hunger globally. [Musk says may take 'weeks' for banned Twitter accounts to be restored]( New Twitter owner Elon Musk said Wednesday that it will be "a few more weeks" before any banned accounts. [Seoul distress calls show four hours of mayhem, police inaction]( South Korean Prime Minister Han Duck-soo vowed on Wednesday to hold police accountable for Seoul's deadly Halloween crowd surge. [North Korea fires three ballistic missiles, Seoul says]( The launches come a day after Pyongyang fired more than 20 missiles, including one that landed near South Korea's territorial waters. [Portugal likely to scrap much-criticised 'Golden Visa' scheme, PM says]( Portugal is likely to scrap its "golden visa" programme giving wealthy foreigners residence rights, Prime Minister Antonio Costa said on Wednesday, saying that the 10-year-old scheme had already fulfilled its role. You Might Like    [Learn more about Jeeng]( [IBTimes]( IBTimes will always protect your security and privacy. 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