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Federal Reserve hints it will end pandemic stimulus programs

Federal ReserveFederal Reserve hints it will end pandemic stimulus programs Fed chair says it could raise interest rates next year, as long as the Covid crisis is contained Dominic Rushe@ …

What caused the UK’s energy crisis?

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What caused the UK’s energy crisis?

Energy industryWhat caused the UK’s energy crisis?From moves by China and Russia to changes in UK regulation, these are the factors that created the perfect storm Jillian AmbroseTue 21 Sep 2021 01.00 EDTThe UK’s energy system has been plunged into chaos by a perfect storm of market forces which threatens to rip through the economy from home energy suppliers to heavy industry, and from factories to farmers.This has stoked fears that a wave of energy suppliers will collapse, and that households will be saddled with unaffordable bills. As the colder weather draws in, these are the factors shaping the energy crisis.China’s post-Covid bounce backChina’s appetite for energy is always a key driver of global market prices. In 2021 its post-Covid economic ramp-up has coincided with an uptick in demand across Asia and Europe too.As economies begin to recover from the fallout of the pandemic, countries across the northern hemisphere, which experienced a long, cold winter in 2020-21 that depleted gas storage levels, have been left scrabbling to secure supplies.Gas prices in the UK have more than quadrupled over the last year to highs of 180 pence per therm, from around 40p/th this time last year. In the last month alone, prices have climbed by 70%.Market experts at S&P Global Platts said earlier this year that China’s demand for gas was likely to rise ​​to 360 billion cubic metres (Bcm) this year, up 8.4% from an estimated 332 Bcm in 2020. To …

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Alibaba sexual assault case dropped as China police say ‘forcible indecency’ not a crime

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China Alibaba sexual assault case dropped as China police say ‘forcible indecency’ not a crime Manager accused of rape released after 15 days, the maximum punishment for someone who molests another     Helen Davidson in Taipei @heldavidson Tue 7 Sep 2021 02.00 EDT Last modified on Tue 7 Sep 2021 02.01 EDT   Prosecutors […]

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China’s Alibaba to invest billions by 2025 for ‘common prosperity’

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Alibaba China’s Alibaba to invest billions by 2025 for ‘common prosperity’ Move comes on back of Beijing encouraging firms to share wealth as part of a drive to ease inequality Reuters Fri 3 Sep 2021 03.15 EDT Last modified on Fri 3 Sep 2021 03.39 EDT China’s Alibaba Group will invest 100bn yuan ($15.5bn) by […]

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Alibaba Rape Allegation Reveals China Tech’s Seamy Side

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Alibaba Rape Allegation Reveals China Tech’s Seamy Side

Sexually suggestive office games, boozy dinners and a culture of ignoring problems have long plagued the industry. Changing it will still be hard.

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Evergrande Went From China’s Biggest Developer to One of Its Worst Debtors

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Evergrande Went From China’s Biggest Developer to One of Its Worst Debtors

Regulators want to fix the property sector’s bad habit of borrowing too much. Evergrande, with its billions of dollars in debt, may stand in the way.This post was originally published on this site

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Alibaba Suspends Executives After Rape Accusation

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Alibaba Suspends Executives After Rape Accusation

More than 4,000 employees have called for the e-commerce titan to take the allegations seriously.

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China's Parents Say For-Profit Tutoring Ban Helps Only the Rich

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Many families and experts say Beijing’s education overhaul will help the rich and make the system even more competitive for those who can barely afford it.This post was originally published on this site

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Yellen Says China Trade Deal Has ‘Hurt American Consumers’

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The Treasury secretary said an agreement made by the Trump administration, which remains under review, had failed to address fundamental problems between the two countries.This post was originally published on this site

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