England

Bank of England raises rates by 50 basis points, in seventh consecutive hike

The Bank of England warned that the U.K. will enter recession later this year. The expected recession is forecast to be the longest since the global financial crisis.Vuk Valcic | SOPA Images | LightRocket | Getty ImagesThe Bank of England voted to raise its base rate to 2.25% from 1.75% Thursday, lower than the 0.75 …

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Huge offshore wind farm Hornsea 2 is fully operational, Orsted says

One of the turbines at the Hornsea 2 offshore wind farm. According to Danish energy firm Orsted, the facility has a capacity of more than 1.3 gigawatts.OrstedA facility described by Danish energy firm Orsted as the “world’s biggest offshore wind farm” is now fully operational, with its 165 turbines set to help power in excess …

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European markets open to close; Bank of England interest rate decision

LONDON — European stocks were slightly higher on Thursday, building on gains made in the previous session.The pan-European Stoxx 600 was up 0.3% in early trade. Retail stocks were the standout performers, gaining 2.5%, while telecoms fell 0.4%.The cautiously positive start for European stocks came after gains on Wednesday on the back of strong U.S. …

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Bank of England set for biggest rate hike in 27 years as inflation soars

LONDON, February 03: Governor of the Bank of England Andrew Bailey leaves after a press conference at Bank of England on February 3, 2022 in London, England. The Bank is expected to hike interest rates for a fifth consecutive meeting on Thursday, but faces a tough balancing act between supporting growth and curbing inflation.Dan Kitwood …

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