US Federal Reserve Decision Could Cause a Recession: Motley Fool, Stephen Jones

Australians are being told they are “preparing” for further financial pain, including a potential recession, after the US Federal Reserve raised interest rates to the highest levels since the global financial crisis. The central bank raised the country’s cash interest rate by three-quarters of a percentage point to 3.25 percent, and said further rate hikes … Read more

Pawnbrokers, winners of the growing economic crisis in Germany | Germany | News and in-depth coverage from Berlin and beyond | DW

If you want to know the state of the German economy, just count the number of customers in Nikolaus Bode’s shop. The formula for working this out is pretty simple: If the pawnbroker in the small western town of Siegburg isn’t very busy, the whole country is doing well. But when people break down its … Read more

Electricity supplier Elysian Energy collapses after price hike

An energy supplier has been suspended from the national electricity market and given a trading ban after being placed on voluntary administration. Elysian Energy, whose majority of customers are based in Victoria, will be taken off the market from Friday, the Australian Energy Market Operator has confirmed. Brooke Bird insolvency experts Adrian Hunter and Robyn … Read more

Czech Republic convenes EU emergency meeting on energy crisis

The Czech Republic, which holds the rotating presidency of the European Union, will convene an urgent meeting of bloc energy ministers to discuss specific emergency measures to tackle the energy situation, Czech Prime Minister Petr Fiala said on Friday, as the energy crisis in the EU worsens and prices rise to new records. Jozef Síkela, … Read more

German consumer confidence bottoms on energy bill fears | News | DW

The energy crisis and high inflation have pushed German consumer confidence to an all-time low, research agency GfK said on Friday. Gfk’s consumer barometer saw a surprising drop of 5.6 points to -36.5 in July. The barometer, from a survey of 2,000 German consumers, has not registered such a low figure since its inception in … Read more

Gazprom can’t shift its gas – POLITICO

Amy Myers Jaffe is the general director of the Climate Policy Lab and a research professor at Tufts University’s Fletcher School. Joe Webster is a senior fellow at the Atlantic Council, a contributor to SupChina and editor of the China-Russia Report. This article reflects their own personal opinions. With European energy prices at dazzling levels, … Read more

Emerging markets rush to join BRICS alliance as high energy prices continue

As emerging markets recover from the Covid-19 pandemic and face financial headwinds from US interest rate hikes, the BRICS group – Brazil, Russia, India, China and South Africa – is looking to expand its membership to meet shared challenges . At the 14th BRICS summit in July, China, Russia and India discussed the possible accession … Read more

German producer prices show record increase | News | DW

Germans paid 37.2% more to manufacturers for commercial goods in July compared to the same month the year before, according to new data from the Federal Bureau of Statistics released Friday. The new report from the Destatis agency indicates that natural gas and electricity are the main drivers of price increases. More than half of … Read more

Personal Inflation Calculator: Crucial Number You Need for Your Budget

Stagnant wages and the lingering effects of the war in Ukraine will increase the cost of living for Australians, but owners of new homes and cars are likely to be hit harder than most. Andrey Vasnev, a business analysis expert from the University of Sydney, told that inflation was spiraling out of control. “There … Read more

Aluminum prices move sideways as energy crisis continues

After seeing a near-term bullish rebound in July, aluminum prices started to decline modestly again in early August. All in all, the rebound was insufficient to suggest a bullish reversal. As such, global aluminum prices remain within a macro downtrend despite recent directional uncertainty. Aluminum prices move sideways as energy costs make production unprofitable Before … Read more