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01.05.26 - 21:02
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Broader Inflation Makes People ′Nervous′: Konczal (Bloomberg)
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Mike Konczal, senior director of policy and research at the Economic Security Project and former chief economist at the National Economic Council during the Biden administration joins Scarlet Fu on "Bloomberg Real Yield." Rising costs for gasoline — now around 2022 levels — helped send a measure of US consumer sentiment tumbling to a record low in April. (Source: Bloomberg)...
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01.05.26 - 15:06
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Nearly 70% Inflation, Mass Layoffs, And A Strangled Economy: Iran′s Brutal Test Of Endurance (ZeroHedge)
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Nearly 70% Inflation, Mass Layoffs, And A Strangled Economy: Iran's Brutal Test Of Endurance
Iran's economy is undergoing one of the most brutal stress tests in its modern history. Official annual inflation has surged to 50% according to central bank figures released shortly after the ceasefire, while the year-on-year rate reached as high as 67% through mid-April, according to the Wall Street Journal. The rial has crashed to a record low of 1.8 million to the dollar, roughly two million workers have lost their jobs, and the US naval blockade of the Strait of Hormuz continues to throttle the country's oil exports and critical imports. Reconstruction costs from bombed infrastructure are estimated near $270 billion - alarmingly close to the country's entire annual GDP of roughly $341 billion last year. What was already a sanctions-battered, mismanaged economy now confronts a grinding “no war, no peace” stalemate. Tehran is wagering that it can hunker down and endure a protracted war - al...
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01.05.26 - 11:24
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NatWest faces £140m hit from Iran war as UK growth slows and inflation rises (The Guardian)
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Profits ahead of expectations but almost half of £283m impairment charge follows forecast reassessmentBusiness live – latest updatesNatWest said the economic fallout from the conflict in the Middle East could cost it £140m amid slowing growth and rising inflation even as it reported profits ahead of expectations.Overall, the FTSE 100 lender booked a £283m impairment charge and said that almost half of that was because of a reassessment of its economic forecast to “reflect increased geopolitical risk and weaker equity markets”. Continue reading......
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