Power bills set to spike as global energy crunch hits home

Electricity bills for hundreds of thousands of Australian households will rise by $100 or more a year as consumers begin to feel the pinch from soaring fossil fuel prices pushing up the cost of power generation across the energy network. Intensifying cost-of-living pressures while inflation remains at a two-decade high, […]

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China Cuts Lending Rates To Cushion Property Market

China’s central bank unexpectedly lowered its lending rates for long-term loans, a move that is set to prop up lending to the property market. The five-year loan prime rate, or LPR, the benchmark for mortgage rates, was lowered by a record 15 basis points to 4.45 percent from 4.60 percent, […]

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UK Inflation At 40-Year High

UK inflation jumped in April to surpass previous records, largely on food and fuel prices, signaling the high cost of living that is set to squeeze household incomes, and validating expectations for further tightening from the Bank of England this year. Inflation accelerated sharply to 9.0 percent in April from […]

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Cisco Systems Reports Mixed Q3 Results, Cuts FY22 Outlook; Shares Down

Cisco Systems Inc. (CSCO) Wednesday reported its results for the third quarter, with earnings beating Street estimates, while revenues falling short of expectations. Moving ahead, the company lowered its outlook for the full year, sending its shares down over 15% in extended trading session. San Jose, California-based Cisco System’s third-quarter […]

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