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Compares with rising prices Need to know: UK and European economy Chancellor Jeremy Hunt ruled out big tax cuts ahead of elections this autumn and told the Financial Times ahead of a speech this evening that he hoped the City of London would boost UK growth by changing rules that are holding back investment. Bank of England Governor Andrew Bailey said the UK economy has shown “unexpected resilience” in the face of a series of external shocks. Fears of further interest rate rises in the UK have caused a rush of homeowners signing new mortgage deals. “There has been a real change in borrower behavior over this last month,” said one financial company. "It changed to, 'Oh my God, I have to get one of these deals before they leave, even though I don't like the rate.'" Proposals to make the UK electricity grid more efficient could lead to large variations in price depending on the proximity of communities to where the power is generated.

Local pricing” is just one option being considered by regulator Ofgem and the government as part of a plan to decarbonise the grid by 2035. Chief economics commentator Martin Wolf said green energy proposals Job Function Email Database from the UK opposition Labor Party are unlikely to enable the country to emerge from a long and painful period of economic stagnation. Representatives from 168 member states of the International Seabed Authority met today to begin talks on large-scale mining on the high seas. France and Germany are concerned that a China-backed push to harvest battery metals from the seabed could cause lasting damage. Need to know: global economy Talks between US and Mexico over trade issues related to energy



The auto industry have ended with little progress, frustrating business leaders who say neither government is complying with regional dispute procedures. Central banks are bringing their physical gold reserves back home to avoid any Russian-style sanctions on their foreign assets. Gold is in increasing demand as a haven against high inflation and bond price volatility. Mozambique China's former finance minister to be extradited and tried in the US over a $2 billion "tuna bond" scandal, linked to looting loan money for maritime projects, including a state fishing fleet of tuna, which led directly to southern Africa. nation that does not pay its debt.