Bank of England Signals Potential Rate Cut if Labor Market Weakens
The Bank of England has indicated it is prepared to implement more significant interest rate reductions if the UK labor market shows clear signs of weakening, Governor Andrew Bailey told The Times in an interview published on 26 July 2024. With rates currently at 4.25%, the central bank plans to review the benchmark at its next policy meeting on 7…
EU Postpones Implementation of Retaliatory Trade Tariffs on US
The European Union has postponed introducing €21 billion in retaliatory tariffs on US goods, responding to US President Donald Trump’s steel and aluminium import taxes. European Commission President Ursula von der Leyen announced the suspension would extend until early August, providing a window for negotiations as both sides brace for escalating trade measures. EU Postpones Tariffs, Seeks Negotiated Solution The…
New Regulations Proposed to Enhance Online Child Safety
The UK government is set to implement stringent new age-verification regulations aimed at protecting children from harmful online content, with measures coming into effect from 25 July. Transport Secretary Heidi Alexander emphasized that these steps mark only the beginning of ongoing efforts to create a safer digital environment for young users, while media regulator Ofcom pledged rigorous enforcement and hinted…
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