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Everything posted by rollover

  1. Russia becomes China's biggest oil supplier In March, the US and UK said they would ban Russian oil, while the European Union has been working towards ending its reliance on Russian gas, as the West steps up the economic response to the invasion of Ukraine. At the time, US President Joe Biden said the move targeted "the main artery of Russia's economy". Despite demand dampened by Covid curbs and a slowing China economy Russia has become China's biggest supplier of oil as the country sold discounted crude to Beijing amid sanctions over the Ukraine war. Imports of Russian oil rose by 55% from a year earlier to a record level totalled nearly 8.42m tonnes last month, displacing Saudi Arabia as China's biggest provider. The move is also likely to impact Western consumers. BBC
  2. Did I tell you, you are talking poppycock. You have short memory, init? President Trump escalated his trade war with China raising tariffs on $200 billion worth of Chinese goods and threatened to hit $300 billion worth of Chinese goods. The Trump administration imposed sanctions and visa restrictions against senior Chinese officials. I believed this was quietly scrapped by US and allies including the UK. Now all US allies are hunting Russia.
  3. Give yourself a break ... you are talking gibberish. Two years ago, UK was buying stuff from Russia and China was the villain, now Russia is the bad guy and China is important partner.
  4. Now I know what you mean, ... Do it the british way, make big humbug and than ... Boris Johnson's plan to cut UK's reliance on China for the importation of critical goods such as pharmaceuticals has been quietly scrapped Boris Johnson risks angering the China-sceptics in his party by quietly dropping his policy of reducing Britain’s reliance on imports from the country. Two years ago, during the height of the pandemic, the Prime Minister instructed civil servants to draw up plans for ‘Project Defend’ – a strategy for protecting national security after the pandemic by diversifying the UK’s imports of critical goods, such as pharmaceuticals, away from Beijing. But a letter sent by Foreign Office Minister Lord Ahmad of Wimbledon said the project was quietly dropped last year. Daily Mail
  5. "We not only saved the world" Gordon Brown, during PMQ's at the House of Commons in December 2008. Brown had actually intended to say that "we had not only saved the banks and led the world"
  6. New strike chaos as teachers and NHS staff warn of action over pay The prospect of strikes across the public services has grown as inflation climbs towards double figures but the Treasury is desperate to keep public spending, and the public sector pay bill, in check. The biggest teaching union, the National Education Union (NEU), told the Observer that unless it receives a pay offer much closer to inflation by Wednesday, it will be informing education secretary Nadhim Zahawi of its plan to ballot its 450,000 members. The move could lead to strikes in schools in England in the autumn, the union said. Another flashpoint could come this week when millions of NHS workers up to senior nurse level receive their annual pay offer, which is expected to fall substantially short of inflation. The country’s biggest union, Unison, representing NHS staff, said the government now faced a choice between offering a deal close to inflation or triggering a mass exodus of staff coupled with possible industrial action in hospitals, at a time when they are already hugely overburdened. Guardian
  7. Tory rebels are plotting to change party rules so they can oust Boris Johnson as leader by Christmas this year There is a growing push to change party rules to allow a second confidence vote in the Prime Minister within six months, instead of the current minimum of one year. By then the Commons’ Privileges Committee, which is investigating whether the Prime Minister misled Parliament over his comments on Partygate, would also be expected to have come to a conclusion. Daily Mail
  8. This is your thoughts, not mine. And pretty creepy thoughts. How do you want to eliminate Russia from the supply chain? If you don't want to do business with Russia directly, you will have to pay a middle fiddle man and just pay more.
  9. It sound something like: we know you are happy with what you get for your work and don't want to take home more even if you could, ... and you also do not bother too much about the inflation ... Unions ‘bribing’ workers to strike Britain’s biggest trade unions have been accused by the Business Secretary of “bribing” workers to go on strike after they doubled daily payments to those who take part. Kwasi Kwarteng said showed that unions had been plotting a “dangerous” summer of chaos “for some time”. Mr Kwarteng is also preparing to increase the maximum amount of money that firms can claim in damages from unions that have taken part in illegal strikes, from £250,000 to £1 million. telegraph
  10. Caving to unions' pay demands will spark a cycle of strikes that will only fuel 1970s-style inflation The government has warned giving against pay increases for striking rail workers, arguing it could lead to a series of other industrial actions and fuel '1970s-style inflation'. Some 40,000 workers are expected to walk out from Tuesday, throwing the country's transport links into enormous upheaval. Mr Clarke, who is deputy to Chancellor Rishi Sunak, last night gave the clearest indication yet that workers will not receive settlements close to the rate of inflation, saying: ‘There isn’t any automaticity, if you like, between inflation and pay setting.’ Daily Mail
  11. The Government has issued a fresh warning to workers that they cannot expect pay rises to keep up with the soaring cost of living. Mr Clarke said it was essential to prevent expectations of wage rises matching increasing prices becoming “baked in”, driving inflationary pressures. “There isn’t an automaticity between inflation and pay settlements and we need to be very careful to avoid fuelling an inflationary spiral in a way which actually is to everyone’s detriment if we allow it to run away from us,” he told the BBC. Mr Clarke made clear that public sector pay rises would need to be held in check. On Thursday, Communities Secretary Michael Gove warned the economy faced a “painful” adjustment as the Government and the Bank try to “squeeze” inflation out of the system. Independent
  12. Grave humour of Memecoins The joke and fun intended memecoins such as Dogecoin and Shiba Inu had eroded more than 95 per cent of investors’ wealth from their peaks. These tokens are not worth even a few cents. They have declined between 25-30 per cent in the last one week, mocking the investors' with some serious wealth destruction. economictimes
  13. @satsuma you didn't read the article, init? It looks like many predicted an economic meltdown and fatally miscalculated when thinking the scale of international sanctions would have caused economic collapse in Russia. Regardless the trade with the West has almost completely been brought to a halt, the wheels didn't come off the Russian economy as it was widely presuppose 3 - 4 months ago. Many ill-wishers has been proven wrong. Due to Western sanctions, the Russian carmaker cannot import all the components but Lada is still functioning, despite lacking some of the parts. Russia is now the most sanctioned country in the world but Lada is still rolling off the production line in the city of Togliatti and is more affordable than before. What's more, the fear of supply disruption means that Russia's been earning even more money from exporting energy and raw materials. In the first five months of the year, it's current account surplus was a record $110bn (£94bn). It can use that money to fund not only the military, but also subsidise state industries.
  14. Millions face mortgage misery: HSBC, Barclays, First Direct and Virgin Money hit homeowners with rates rise within HOURS of Bank of England's hike to 1.25% - and some face paying DOUBLE the bank's 0.25% increase Daily Mail
  15. Did you catch the news today? Zelensky presented with biography of the Queen You may have noticed the images of UK PM Boris Johnson signing a book in the Presidential Palace on his visit to Kyiv. It's now been revealed that he gave President Zelensky a biography of the Queen during the surprise trip. The book - published to coincide with the monarch's Platinum Jubilee - features insights from family, friends and staff of the Queen, as well as interviews with world leaders and unseen photographs and papers. BBC
  16. I think many have max their mortgages and go on holidays, buy cars ... have a lifestyle on borrowed money, they wouldn't been otherwise able to afford. Building an equity, for some it doesn't mean nothing, ... well until it does.
  17. If one of the reason the BoE used why not to raise interest rates by 0.5%, and this will have significant consequences for certain borrowers. And the 0.25% is so significant, something is not right.
  18. So news that mortgage bills – the biggest monthly expense for most people – are also set to rocket will be a terrifying prospect. About two million homeowners with variable rate loans will see an almost immediate jump in their monthly repayments after yesterday’s interest rate increase. But the real shock will come for those who locked into ultra-cheap fixed deals a few years ago that are soon due to end. And this will be a bitter blow for anyone who stretched themselves to buy a bigger house or who has borrowed extra to make home improvements. Some could well find that the bumper mortgage they could scarcely manage before is simply unaffordable at the rates available. Daily Mail
  19. Go for Toyota hybrid cars, they are leader in this segment.
  20. Rishi Sunak will not be riding to the rescue on the cost-of-living crisis after ministers dismissed the prospect of tax cuts before the inflation threat eases. After the BoE warned price rises will top 11 per cent this Autumn, the Chancellor made clear that splashing out more would 'exacerbate' the problem. Daily Mail
  21. The yen has fallen sharply after Japan's central bank kept its ultra-low interest rates on hold as policy makers around the world hike the cost of borrowing to tackle rising prices. The Bank of Japan also says it will continue its programme of buying huge amounts of government bonds. The BOJ held its target for short-term interest rates at minus 0.1% and said it expected to keep borrowing costs at "present or lower" levels. The yen has fallen in value against other major currencies because higher interest rates tend to attract foreign investment. So far this year the dollar has climbed by 15% against the yen, as the gap between interest rates in Japan and much of the rest of the world continues to grow. BBC
  22. Don't take him seriously, he is a troll. @Si1 is on the HPC almost two decades and now saying he bought on the top, when interest rates are rising. TBH, it doesn't make sense.
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