Banks tell Britain that curb on all Russian savers won’t work – sources

Banking industry sources fear British proposals on Russian deposits would break equality laws, which forbid discrimination on the basis of nationality LONDON, United Kingdom – Banks in Britain have warned the government that a plan to ban all Russians from holding more than 50,000 pounds ($65,430) in their accounts is illegal and unworkable, five sources … Read more

Fed hikes interest rates, signals aggressive fight to curb inflation

WASHINGTON, USA – The Federal Reserve on Wednesday, March 16, raised interest rates for the first time since 2018 and laid out an aggressive plan to push borrowing costs to restrictive levels next year in a pivot from battling the coronavirus pandemic to countering the economic risks posed by excessive inflation and the war in … Read more

Hong Kong retail chains ration staples to curb COVID-19 panic buying

Supermarket chain ParknShop announces limits of five items per customer on staples such as rice, canned food and toilet paper, while pharmacy Watsons put the same limits on medication for pain, fever and colds HONG KONG – Two of Hong Kong’s largest consumer retail chains started rationing some food and drug items on Friday, March … Read more