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OECD warns Omicron may intensify supply shortages and inflation
The Omicron coronavirus variant threatens to intensify imbalances that are slowing growth and boosting inflation, and to delay the world economy’s return to normality, the OECD said on Wednesday as it published its latest forecasts. The…
US Supreme Court to weigh challenge on abortion rights
The US Supreme Court is set to hear oral arguments on Wednesday in the biggest challenge to abortion rights in generations, as the state of Mississippi seeks to overturn a decision that legalised the procedure across the US five decades…
UBS raids JPMorgan for new finance chief Sarah Youngwood
UBS has poached a top executive from JPMorgan Chase to be its chief financial officer, completing an overhaul of the senior management at Switzerland’s biggest bank since Ralph Hamers started as chief executive just over a year ago. Sarah…
European and Asian shares rise after Omicron and Powell remarks drive slump
European and Asian equities rose and oil prices rebounded on Wednesday, after a punishing session in which the economic impact of the Omicron coronavirus variant and hawkish comments from the chair of the US Federal Reserve weighed on…
Afghanistan economic meltdown one of worst in history, UN says
The UN has forecast that Afghanistan’s gross domestic product will contract 20 per cent within a year following the Taliban’s takeover of the country, representing one of the worst economic meltdowns in history. “ an economic contraction…
Renewable energy pace must double to limit global warming, IEA says
A record amount of renewable electricity was added to energy systems globally in 2021 but it remains about half of what is needed annually to be on track to reach net zero emissions by 2050, according to the International Energy Agency. New…
Omicron sparks race to clarify extent of Covid vaccine protection
The warning from the head of Moderna, the pharmaceuticals group, that coronavirus vaccines were likely to be less effective against the Omicron variant has provoked anxiety over the best weapon the world has to fight the pandemic.While the…
Covid backlash: Europe’s populists eye opportunity
There was live music, dancing and bottles of Sekt sparkling wine. The chancellor, the president, the mainstream party leaders and the media bosses were all there, in black tie and sequinned evening dresses. What made last Friday’s gala…
Rich countries must divert jabs to developing world says Covax chief
One of the main figures behind the Covax vaccine initiative has questioned why rich countries are ramping up their booster programmes in response to the Omicron variant, insisting the priority should be inoculating the huge number of people…
Floating nuclear power plant fuels Russia’s Arctic ambitions
Moored off the small Arctic town of Pevek is the Akademik Lomonosov — the world’s first floating nuclear power plant and a sign of how President Vladimir Putin’s ambitions for Russia’s far east are taking shape.This port on the northern…
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