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for people in england, scotland and wales, average energy bills are set to fall by over £400 a year, that s over $500. the energy regulator ofgem has lowered its price cap for the typical household bill to £2,076, though the actual bill will still, of course, depend on how much energy people use. at its peak last year, the price cap reached more than twice that level, but households were shielded from the full impact of energy prices by a government price guarantee of £2,500. let s get more now from our personal finance correspondent kevin peachey. finally some good news. bills are still high but not as high as they were? ., , , still high but not as high as they were? . , , . ., , were? that this is certainly the case. were? that this is certainly the case- energy were? that this is certainly the case. energy prices were? that this is certainly the case. energy prices clearly - were? that this is certainly the case. energy prices clearly a i were? that this is c ....
there is a roughly one in four chance that the us will hit the so called x date, when the us government runs out of money to pay its bills without a deal to raise the debt limit. that is according to the banking giantjp morgan chase. and they say the odds are getting worse. that forecast comes after house speaker kevin mccarthy said on wednesday that he thought progress could be made, but warned the two sides remain far apart. republicans are warning that any deal must cut future federal spending in exchange for raising the debt ceiling a red line for the white house. on wall street, us stocks fell as investors have been watching these talks closely for any sign of an agreement. and even if a deal is done in time, economists say that depending on the details, cuts to government spending are likely create economic headwinds that could bring down inflation a possible silver lining for the federal reserve, which has been raising interest rates to fight inflation. fed o ....
because the eurozone s largest economy is now officially in recession. germany has had two consecutive quarters of negative growth. the country s economy contracted by 0.3% between january and march. this follows a contraction of 0.5% in the final three months of 2022. a drop in consumer spending was main cause of germany s disappointing performance in the first quarter, with household consumption falling by 1.2%, as the cost of living crisis continued to cause headaches for millions of people. joining me now is christian schulz deputy chief european economist at citi bank. thank you for being with us. perhaps no great surprise for those who watch those numbers, but it is symbolically important that what was once was a powerhouse economy is now technically in recession. technically in recession. indeed. germany s - technically in recession. indeed. germany s. .. they ve technically in recession. indeed. germany s. .. they ve had - technically in recession. indeed ....
has the latest from new york. there is a roughly one in four chance that the us will hit the so called x date that s when the government runs out of money to pay its bills without a deal to raise the debt limit. that is according to the banking giantjp morgan chase. and they say the odds are getting worse. that forecast comes after house speaker kevin mccarthy said on wednesday that he thought progress could be made, but warned that the two sides remain far apart. republicans are warning that any deal must cut future federal spending in exchange for raising the debt ceiling a red line for the white house. republicans are demanding that any deal must cut future federal spending in exchange for raising the debt ceiling a red line for the white house. on wall street, us stocks fell as investors have been watching these talks closely for any sign of an agreement. and even if a deal is done in time, economists say that depending on the details, cuts to government spe ....
reach a deal on the country s debt ceiling, with the us house speaker kevin mccarthy saying on wednesday that negotiators remain far apart. our north america business correspondent michelle fleury has the latest from new york. there is a roughly one in clutch make chance that the us will hit the so called x date, when the us government runs out of money to pay its bills, before the dental ministries. that is according toj.p. morgan chase. they say the other any worse. debt limit raises. kevin mccarthy said he thought progress could be made but warned the two sides remain far apart. but warned the two sides remain farapart. her pub but warned the two sides remain far apart. her pub concert amending that any deal must cut future federal spending in exchange for raising the debt ceiling, a redline for the white house. on wall street, us stocks fell as investors have been watching these talks closely for any sign of agreement. and even if a deal is done in time, economis ....