UK Government Appoints Experienced Economist to Budget Responsibility Committee
The UK’s pursuit of economic stability takes a step forward as Finance Minister Jeremy Hunt nominates Tom Josephs for a vital role in the Office for Budget Responsibility (OBR). Josephs’s diverse background, including his current position as Director of Private Pensions at the Department for Work and Pensions, makes him a prime candidate to join the Budget Responsibility Committee (BRC). His experience in domestic and international economic analysis and history at the OBR positions him to provide valuable insights into the country’s fiscal planning. With approval from the Treasury Committee, Josephs’s potential appointment adds a knowledgeable voice to the economic forefront.
US FED Hikes Interest Rate for Tenth Time in a Row
The US Federal Reserve (US FED) has hiked interest rates for the tenth time in a row, bringing the key lending rate to its highest level since 2007. However, the US FED signalled it could pause further rate hikes, as inflation eases and turmoil continues to spread across the American banking sector.
Ghana delivers biggest rate hike ever at emergency meeting
Ghana’s central bank on Wednesday delivered its biggest rate hike ever, a 300 basis point increase to 22%, at an emergency meeting to address the economy’s rapid deterioration amid crippling inflation.
U.S. airlines to defend $54 billion COVID-19 government lifeline
Major U.S. airlines Wednesday will defend a $54 billion COVID-19 government lifeline even as they face operational challenges and work to speed hiring to address rising demand.
Toshiba walked away from potential buyout talks and Brookfield offer -sources
Japan’s Toshiba Corp (6502.T) walked away from potential private equity buyout offers at a substantial premium, as well as advanced talks for a minority stake from Canada’s Brookfield, according to three people familiar with the matter.
EXCLUSIVE Major Toshiba shareholder objects to break-up, urges board to solicit offers
Toshiba Corp’s (6502.T) second-largest shareholder on Wednesday objected to the Japanese conglomerate’s plan to split itself into three companies and called on it to instead solicit offers from potential buyers.
