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ECONOMY

Low Rhine deepens Germany's energy crisis

The prospect of severe, longer-term limits to traffic spells a new headache for the industries lined up on the banks of the Rhine
A hot, dry July made worse by climate change has raised the risk that the German economy could run aground as sinking Rhine waters make shipping along the river harder.
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A man wearing a protective mask walks past the headquarters of Bank of Japan amid the coronavirus disease (COVID-19) outbreak in Tokyo

Bank of Japan board reshuffle brings in less dovish member

The Bank of Japan has reshuffled its board and brought in a new member seen as more keen to end ultra-low interest rates than his dovish predecessor, potentially tilting the board away from Governor Haruhiko Kuroda's aggressive monetary easing policy.
People walk through the financial district of Canary Wharf, London, Britain 28 September 2017.

Inflation surge pushes up Britain's budget deficit

A surge in debt costs - pushed up by soaring inflation to twice their previous monthly peak - added to Britain's budget deficit in June, which was its highest since April 2021, data showed on Thursday.
Illumination at ECB headquarters for the Euro's 20th anniversary in Frankfurt, Germany

ECB Hikes Rates More Than Flagged In Race To Tame Inflation

The European Central Bank raised interest rates by more than expected on Thursday as concerns about runaway inflation trumped worries about growth, even while the euro zone economy is suffering from the impact of Russia's war in Ukraine.
Giant Hershey's Kiss chocolates are seen on display in a shop in New York City

Rising prices curb consumers' taste for chocolate

Consumers are cutting back on chocolate due to the cost of living crises in Europe and the United States, according to new data and comments from executives at the world's biggest chocolate companies.