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By Tom Espiner Published 2 hours ago comments Comments Share close Share page Copy link About sharing The pound has fallen to a two-year low against the dollar reflecting traders' increasing concerns about recession around the world as energy prices continue to soar. But sterling is also weak because markets are worried about future UK economic growth, analysts said. Sterling could fall even further after predictions of economic stagnation and as inflation rises, they added. London shares regained some ground on Wednesday following Tuesday's falls. The resignation of two senior government ministers on Tuesday evening, including former Chancellor Rishi Sunak, was not a significant factor in the pound's fall, Rabobank head currency strategist Jane Foley told the BBC Radio 4 Today programme. UK household energy bills to hit £3,000 per year Sunak … [Read more...] about Pound slides to two-year low against the dollar

Published 24 March 2016 Share close Share page Copy link About sharing The killing of criminal lawyer Joseph "Pino" Acquaro in Melbourne sheds light on the hidden machinations of the 'Ndrangheta, says Australian crime writer Adam Shand. Liborio Benvenuto, who died in 1988, was the last of the old-time Australian godfathers. He understood his power but also its limits. His protege Joseph "Pino" Acquaro, who was murdered in a Melbourne street last week, was not so wise. Benvenuto became the leader of The Honoured Society, a Melbourne-based Calabrian mafia group, after a bloody internal battle in the early 1960s dubbed the Market Wars. He presided over a quarter century of relative peace until he died of natural causes in 1988. It was Benvenuto who encouraged Acquaro, the son of a prominent accountant in the Calabrian community, to become a lawyer. Violence was bad for business, so a … [Read more...] about Lawyer’s murder hints at secrets of Australia mafia

Published 7 minutes ago Share close Share page Copy link About sharing Following the shock resignation of former Chancellor Rishi Sunak, his replacement Nadhim Zahawi has said he and Prime Minister Boris Johnson want to "rebuild the economy" and get soaring inflation under control. Mr Zahawi said "nothing is off the table" in terms of cutting taxes. What are some of the options open to the new Chancellor to make good on those plans? 1. Cut VAT Mr Zahawi has said he wants to do two things: cut taxes and "bear down" on inflation. Those are not usually happy bedfellows. Cutting taxes puts more money into the economy, which drives prices up - so how can he walk this line? A temporary cut in VAT - the tax paid when buying goods and services - from 20% to 17.5%, say, would lower the price of goods and services in the basket used to calculate inflation - taxes would get cut, and … [Read more...] about Four ways Nadhim Zahawi may try to boost the economy