5 signs the world is headed for a recession

New York CNN Business  —  Around the world, markets are flashing warning signs that the global economy is teetering on a cliff’s edge. The question of a recession is no longer if, but when. Over the past week, the pulse of those flashing red lights quickened as markets grappled with the reality — once speculative, … Read more

Liz Truss admits mistakes on controversial tax cuts plan, but doubles down on it anyway

London CNN  —  British Prime Minister Liz Truss admitted mistakes had been made with her government’s controversial “mini-budget” announced last week – which sent the pound to historic lows and sparked market chaos – but stood by her policies. Speaking to the BBC’s Laura Kuenssberg on Sunday morning Truss said: “I do accept we should … Read more

King Charles III’s coin portrait unveiled by UK Royal Mint

London CNN Business  —  The portrait of King Charles III that will feature on British coins has been unveiled by the Royal Mint, the official maker of UK coins. The image, which will first appear on commemorative £5 and 50 pence coins to honor the life of the late Queen Elizabeth II, was designed by … Read more

Police investigating after human remains reportedly found in notorious killing of 12-year-old boy

British police on Friday said they were investigating after an author probing the notorious “Moors Murders” killing of a 12-year-old boy in 1964 claimed to have found human remains. The boy, Keith Bennett, was one of five victims of child serial killers Ian Brady and Myra Hindley, who buried all but one of their victims … Read more

Russia vetoes UN resolution on Ukraine annexation, China abstains | Russia-Ukraine war News

Russia has used its veto at the United Nations Security Council to scuttle a draft resolution that sought to condemn its annexations of Ukrainian territory. But even Moscow’s close friends China and India chose to abstain rather than vote against the resolution that condemned the Kremlin’s latest actions in Ukraine. United States ambassador to the UN … Read more

There are no American F1 drivers. McLaren CEO thinks he knows why

Formula One is revving up for the Singapore Grand Prix this weekend with a stunning cast of racers, but none of them are from the United States — and McLaren’s CEO Zak Brown has a theory about that. “The talents are there, the resources are there. It’s really about when and where they get started … Read more

US officials troubled by controversial UK tax cut plan

New York CNN  —  US officials are increasingly troubled by the United Kingdom’s proposal to slash taxes at a time of crushing inflation, a plan that has ignited turbulence in financial markets. UK Prime Minister Liz Truss’s tax-cut plan has drawn criticism from economists and investors and prompted the Bank of England to calm panicked … Read more

Erdogan says Turkey will keep cutting interest rates, mocks British pound

Turkish President Tayyip Erdogan addresses members of his ruling AK Party (AKP) during a meeting at the parliament in Ankara, Turkey May 18, 2022. Murat Cetinmuhurdar/Presidential Press Office/Handout via REUTERS THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. NO RESALES. NO ARCHIVES. MANDATORY CREDIT Murat Cetinmuhurdar | Reuters Turkey will keep cutting interest rates, … Read more

The UK is gripped by an economic crisis of its own making

London CNN Business  —  A week ago, the Bank of England took a stab in the dark. It raised interest rates by a relatively modest half a percentage point to tackle inflation. It couldn’t know the scale of the storm that was about to break. Less than 24 hours later, the government of new UK … Read more

Drink these types of coffee to live longer, study says

CNN  —  Drinking two to three cups a day of most types of coffee may protect you from cardiovascular disease and an early death, a new study found. “The results suggest that mild to moderate intake of ground, instant and decaffeinated coffee should be considered part of a healthy lifestyle,” said study author Peter Kistler, … Read more