The article reviews Robert Service's book "The August Coup," detailing the swift collapse of Marxist-Leninist rule in Russia in August 1991. It highlights Mikhail Gorbachev's failed reforms, the KGB-led coup's incompetence, and Boris Yeltsin's pivotal role in resisting the plotters, leading to the Soviet Union's demise.
Drought and extreme heat in the UK are severely impacting crops like lettuce, broccoli, peas, and carrots, leading to halved yields, significant price increases, and increased reliance on imports from Spain and Holland. Supermarkets warn of threats to Britain's food security.
A class-action lawsuit alleges Costco sold Orgain Organic Protein Powder containing toxic heavy metals like lead, cadmium, and arsenic without warning consumers. Plaintiffs cite testing by Clean Label Project and Consumer Reports, claiming Costco knew or should have known about the contamination.
China's consumer prices rose 1% year-on-year in June, missing forecasts and slowing from May, while wholesale inflation accelerated to 4.1%, driven by energy costs and AI demand, indicating weak domestic demand.
Used all-electric vehicle prices are rising significantly, up 12% year-over-year, driven by high U.S. gas prices and the Iran conflict, according to Cox Automotive. Wholesale EV prices have increased 11.5% this year to $30,400.
美國紐澤西州一間BJ批發會員店於6日遭遇風暴後屋頂坍塌，店內27人一度驚慌躲避，所幸無人員傷亡。警方已確認所有人都已安全撤離。
A roof collapsed at a BJ's Wholesale Club in Ocean Township, New Jersey, on Monday morning during heavy flooding. Twenty-seven people were inside, with two briefly entrapped, but no injuries were reported. Emergency services conducted searches using drones and K-9 units.
A severe heat wave in the eastern US has pushed electricity demand to near-record levels, prompting PJM Interconnection, the nation's largest power grid operator, to implement emergency measures to reduce consumption and prevent blackouts. Millions remain under heat warnings as soaring temperatures strain the grid, leading to high wholesale electricity prices and disruptions to July 4th celebrations.
India's wholesale inflation hit 9.7% in May, driven by fuel and manufacturing costs. However, falling global crude oil prices and a stable rupee may allow the RBI to postpone interest rate hikes, though weather-related food inflation risks are monitored.
Global oil prices have fallen to a three-month low and stock markets have reached record highs amid optimism that a US-Iran peace deal could resolve the energy supply crisis. Brent crude dropped 4% to $83 as hopes rise for the reopening of the Strait of Hormuz.
India has released its first Producer Price Index (PPI) data for goods and services, aiming to gradually replace the Wholesale Price Index (WPI) over five years. This aligns with IMF recommendations and advanced economy practices, offering a producer-centric view of inflation.
Global oil and gas markets have seen prices fall after a US-Iran peace deal was confirmed, potentially reopening the Strait of Hormuz. Brent crude dropped to $83 a barrel and gas prices fell 6%, easing fears of severe economic consequences.
Global oil prices dropped to a three-month low and stock markets rallied amid optimism over a potential US-Iran peace deal that could reopen the Strait of Hormuz and ease energy supply concerns. Brent crude fell below $83 a barrel, while wholesale gas prices declined in Europe.
India's wholesale inflation hit 9.68% in May under a new series, driven by elevated food and fuel prices. Geopolitical tensions, particularly the US-Iran conflict, are pressuring crude oil and global supply chains. The government also launched a new producer price index and revised the WPI base year to 2022-23.
Wholesale Price Index (WPI) inflation in India rose sharply to 9.68% in May from 8.26% in April, driven by escalating prices of fuel, power, manufactured goods, and food items. The surge reflects the economic impact of the West Asia conflict and disruptions in global shipping routes.
Australian pharmaceutical group Sigma Healthcare has dropped its $10bn pursuit of UK retail chain Boots, stating the deal would not meet its strategic and capital investment objectives. The withdrawal extends uncertainty for the 177-year-old chain, which was put up for sale in 2022. Sigma shares rose 6% on the news.
Bitcoin's price fell as the latest Producer Price Index (PPI) report showed a 1.1% monthly increase in May, reaching a 6.5% annual rate, exceeding economist expectations. The surge, driven by energy prices, particularly gasoline, raises concerns about persistent inflation and impacts liquidity expectations, negatively affecting Bitcoin's near-term price despite its long-term inflation hedge narrative.
US wholesale prices rose 1.1% in May, exceeding expectations and reaching a 6.5% annual rate, driven by a significant surge in energy prices. Core inflation also accelerated, signaling persistent pipeline inflationary pressures.
US wholesale prices rose 1.1% in May, exceeding expectations and reaching a 6.5% annual rate, driven by a significant surge in energy prices. Core PPI also accelerated, signaling persistent inflationary pressures.
A consortium of 37 banks across 15 countries, Qivalis, is launching a euro-denominated stablecoin to challenge the dollar's dominance in crypto payments and settlement. Despite current market saturation by dollar stablecoins like USDT and USDC, Qivalis aims to leverage its regulatory compliance and bank network to establish euro rails for tokenized assets.
UK inflation fell to 2.8% in April, primarily due to lower energy bills. However, analysts predict a rise to 4% by year-end, citing the Iran war's impact on global oil prices and fuel costs.
UK inflation dropped to 2.8% in the year to April, down from 3.3%, driven by lower energy prices. However, experts predict a rise due to the ongoing US-Israel war's impact on global prices, with fuel costs soaring.
India faces a complex inflation scenario as wholesale prices soar due to fuel costs, while retail inflation remains subdued. A recent fuel price hike is expected to push retail inflation higher, impacting household budgets. The RBI will monitor global crude prices, monsoon impact, and wholesale-to-retail price pass-through before adjusting interest rates.
The FCA and Bank of England have launched a joint Call for Input to clarify rules on tokenisation in UK wholesale markets, aiming to provide regulatory certainty as the technology moves from pilots to production.
