London (CNN Business) Millions of people in the United Kingdom are steeling themselves for colossal rises to their energy bills over the next few months, a coda to a year already marked by record price increases. The crisis is not unique to the country. Prices have shot up across Europe since last fall, driven by a spike in demand as countries lifted pandemic lockdowns. Russia's invasion of Ukraine in late February, and the subsequent drop in Moscow's oil and natural gas exports to Europe , have pushed prices even higher. But UK energy prices are now higher than in comparable economies like France and Italy, analysts told CNN Business. And Brits have suffered much bigger price increases than in most European countries, including Germany, where decades of energy policy has been turned on its head by the Ukraine war. The Office for National Statistics said this week that UK natural gas prices rose nearly 96% in the year to July, while electricity … [Read more...] about Why UK energy prices are rising much faster than in Europe
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The Markets are Fighting the Fed and Vice Versa
It’s one of the oldest rules on Wall Street: Don’t fight the Fed! Lately, however, that’s all anyone seems to be doing. The Fed is attempting to rein in inflation by raising interest rates and allowing its balance sheet to shrink. In theory, this should drive asset prices and raising rates on home loans, tightening financial conditions for businesses and households. While that happened in the early stages of the Fed’s tightening cycle, it has since gone haywire . The S&P 500 rallied 17.2 percent in the 41 days through March 17. U.S. corporate bonds with junk bonds also have gone on a stunning rally, narrowing the spread from roughly 600 basis points to 425 basis points above the risk-free Treasury rate on Friday. The thirty-year fixed mortgage rate has fallen from nearly six percent to 5.13 percent. The market odds implied odds that the Fed will hike another 74 basis points in September have declined substantially. In short, financial conditions are substantially … [Read more...] about The Markets are Fighting the Fed and Vice Versa
Where Did Vogue Go So Wrong With Its ‘Historic’ Ketanji Brown Jackson Pic?
It was supposed to be a momentous image: The first Black woman on the nation’s highest court, captured in a historic shoot for one of the world’s most distinguished publications. But the end product of Justice Ketanji Brown Jackson’s Vogue spread lit social media on fire this week, with many critics complaining that Vogue is too-high profile to continuously miss the mark when it comes to photographing Black subjects. On Tuesday, famed photographer Annie Leibovitz sneak-peeked photos from what Vogue Editor-in-Chief Anna Wintour called a “historic portrait” for the mag’s famed September issue, released just before the Supreme Court’s new term begins in October. Jackson made history in April when she was confirmed as the first Black woman on the nation’s highest court. “United States Supreme Court Justice, Ketanji Brown Jackson, Lincoln Memorial, Washington, D.C., 2022,” Leibovitz tweeted with two images of Jackson at the National Mall. The first showcased her leaning on … [Read more...] about Where Did Vogue Go So Wrong With Its ‘Historic’ Ketanji Brown Jackson Pic?
L.A. Arrests 14 for ‘Mass Looting,’ but Lets All of Them Go
Officials in Los Angeles announced Thursday with great fanfare that they had made 14 arrests in connection with recent “mass looting” events in the city — but all fourteen have since been released from jail, either with or without posting bail. The Los Angeles Times reported : After a spate of brazen smash-and-grab robberies left Los Angeles-area retailers and shoppers on edge last month, officials announced Thursday that they had arrested 14 suspects in connection with the crimes. Mayor Eric Garcetti and Los Angeles Police Chief Michel Moore, joined by other officials and members of the business community at LAPD headquarters, said none of the 14 suspects remains in custody. One of the suspects is a juvenile, Moore said. The others either posted bail or were released without bail. The chief pointed to zero-bail policies that were put in place last year for certain crimes, including burglary, as a public health measure to reduce jail populations during the COVID-19 … [Read more...] about L.A. Arrests 14 for ‘Mass Looting,’ but Lets All of Them Go
Streamers Get Steamy as They Lust After Sex-Drenched Fare to Seduce Subscribers
Click here to read the full article. Interior designer Melanie Rose specializes in something very intimate and unique in the home renovation space: She designs sex rooms. Remember Tommy Lee’s dream of a boudoir playground in “Pam & Tommy,” and how the racy redesign led to his sex tape being stolen? That’s what Rose does for a living — well, except she doesn’t steal her clients’ personal belongings. When she’s not planning other folks’ bedrooms, Rose is in her own home writing a series of erotic novels based on that career. It was under the guise of pitching those books as a scripted series that her manager approached Adam Sher, president of ITV America. But Sher had another idea: Why not turn her life and work into a TV-MA-rated reality show? More from Variety 'The Next 365 Days' Review: For Masochists Only - and Not the Sexy Kind 'Sex Education' Season 4 Adds Dan Levy, Six Series Regulars Streamers Hike Prices: How the Big Players Stack Up Now And … [Read more...] about Streamers Get Steamy as They Lust After Sex-Drenched Fare to Seduce Subscribers
