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The rising cost of living
Glasgow Credit Union Digitally Transforms the Member Experience and Supports Business Resiliency
Date: March 22, 2022
Glasgow Credit Union is one of the largest credit unions in Europe, serving the greater Glasgow area with a service scope focusing on savings and loans. Experiencing steady growth, the organization used Laserfiche to power a number of digital transformation initiatives aimed at reducing reliance on manual processes and ensuring that the organization could scale...
Hungary ramps up rate hikes as war stokes inflation risks
Date: March 22, 2022
By Gergely Szakacs and Krisztina Than BUDAPEST (Reuters) – The National Bank of Hungary raised its base rate by 100 basis points to 4.4% on Tuesday, the biggest hike in the rate since 2008, saying rising energy costs and the war in Ukraine had fuelled inflation risks. The bank, which raised its inflation forecasts for...
EU to require countries to fill gas storage 90% before winter -draft
Date: March 22, 2022
By Kate Abnett BRUSSELS (Reuters) – The European Commission will propose legislation on Wednesday requiring EU countries to fill their gas storage to at least 90% of capacity ahead of each winter, according to a draft document. The invasion of Ukraine by Russia, the European Union’s top gas supplier, has increased concerns about supply shocks...
Spain mulls price cap for gas plants to bring down power bills
Date: March 22, 2022
MADRID (Reuters) -Spain is considering introducing a maximum price at which combined-cycle gas plants can sell power to the wholesale market as part of an effort to rein in sky-high consumer electricity bills, Energy Minister Teresa Ribera said on Tuesday. As global energy prices soar, exacerbated by Russia’s invasion of Ukraine, European governments are racing...
Analysis-Climate goals take second place as EU states cut petrol prices
Date: March 22, 2022
By Gavin Jones ROME (Reuters) – A growing number of European countries are cutting fuel taxes to lower surging pump petrol prices. The move brings respite to motorists but environmentalists say it flies in the face of commitments to curb global warming. Rising international oil costs, exacerbated by the war in Ukraine, have driven petrol...
Two thirds of Luxembourg funds with big Russia exposure suspended, watchdog says
Date: March 22, 2022
By Huw Jones and Carolyn Cohn LONDON (Reuters) – Two thirds of funds in Luxembourg with heavy Russian exposure have been suspended following the Ukraine invasion, the Grand Duchy’s securities regulator said on Tuesday, adding that the sector’s Russian exposure is limited to 0.3% of total assets under management. Claude Marx, director general of the...