Some economists fear that raising interest rates at this point would be a blunder. It would tighten monetary policy at a time when households and businesses are already being squeezed by higher energy costs, and as government Covid-19 support measures, such as the universal credit uplift, are withdrawn, hurting vulnerable families. A rate hike might calm inflation expectations; policymakers worry that workers will seek higher wages to match rising prices in the shops (although not every employee has as much leverage as, say, a qualified HGV lorry driver). But it…
Tag: Stock markets
Chinese police take away HNA chairman, CEO on suspicion of crimes
SHANGHAI, Sept 24 (Reuters) – China’s HNA Group, once one of the country’s most acquisitive conglomerates, said on Friday that its chairman and its chief executive had been taken away by police due to suspected criminal offences. The company, placed in bankruptcy administration in February, said in a statement on its official WeChat account it had been notified by police in its home province of Hainan, southern China, that Chairman Chen Feng and CEO Tan Xiangdong had been taken. read more “The operations of HNA Group and its member companies…