UK

Why a new eurozone crisis now looks a distinct possibility

The European Central Bank (ECB) has confirmed speculation that it will become the latest central bank to start raising headline interest rates to try to ward off inflation. The bank is to raise rates by 0.25 points to 0.25% for lending and -0.25% for deposits, with plans for another rise at the next meeting in September. It will also curtail its programme for buying the government bonds of countries like Italy and Greece by not increasing purchases every month overall.

How Elizabethan law once protected the poor from the high cost of living – and led to unrivalled economic prosperity

Elizabeth I in procession, circa 1600. Wikimedia CommonsIn the closing years of Elizabeth I’s reign, England saw the emergence of arguably the world’s first effective welfare state. Laws were established which successfully protected people from rises in food prices.

More than 400 years later, in the closing years of Elizabeth II’s reign, the UK once again faces perilous spikes in living costs. Perhaps today’s government could learn something from its legislative ancestors.

NFTs: how top brands like Nike and Prada are using them – and what could go wrong

Forget real sneakers – soon we'll be more worried about the digital variety. naratrip2Luxury fashion house Prada has a scheme for customers who want something even more exclusive than its usual range of clothing and accessories. Each month, on a first-come first-served basis, the Time Capsule Collection offers ultra-limited editions of Prada products. They’re only on sale for 24 hours, with purchases delivered straight to customers’ doors.

Pages

Subscribe to UK