Geoffrey Smith

1 week ago | politico.eu | Geoffrey Smith

LONDON — The Bank of England cut its key interest rate on Thursday by a quarter-point to 4.25 percent, its fourth cut in nine months, pointing to the risks of a global economic slowdown due to the trade war unleashed by the U.S.The move will ease the pressure on businesses and households who have been hurt by a barrage of tax increases since Labour took power last year.

1 week ago | politico.eu | Geoffrey Smith

Inflation in the eurozone stayed marginally above the European Central Bank’s target in April, a fresh increase in services prices keeping the annual rate stuck at 2.2 percent. Data published by Eurostat on Friday showed prices rose 0.6 percent on the month, with strong services inflation more than offsetting declines in energy prices, reflecting the slump in oil markets after U.S. President Donald Trump unleashed his trade tariff offensive.

2 weeks ago | politico.eu | Carlo Martuscelli |Geoffrey Smith

A massive blackout in Spain and Portugal on Monday left customers and businesses without means of electronic payment, brutally exposing the risks of completely moving away from cash. The massive blackout affected everything from public transport to hospitals and manufacturing across the Iberian Peninsula. According to Spanish newspaper El País, banks and payments systems were hit, with only some banks allowing payments through the point of sale (POS) terminals that they operate.

3 weeks ago | politico.eu | Carlo Martuscelli |Geoffrey Smith

The new era of uncertainty in the world economy could push public debt levels back to their highest since World War II, with the eurozone likely to be among the worst affected, the International Monetary Fund warned on Wednesday. In its new half-yearly Fiscal Monitor, the IMF forecast that global public debt will rise by 2.8 percentage points in 2025 to around 95 percent of gross domestic product (GDP). It expects a further increase to nearly 100 percent of world GDP by the end of the decade.

3 weeks ago | anglican.ink | Geoffrey Smith

I join billions of Christians around the world in thanking God for the life and ministry of PopeFrancis. Francis ministered as Pope with great humility, humanity and a real focus on trying to follow the way of Jesus. Not only did he dedicate his life to serving the poor and standing up for those facingpersecution, he was a great advocate for peace during these unsettling times.