The world is buzzing with news headlines today. Firstly, the biggest North Sea oil find in decades is set to be drilled for the first time, despite the crackdown on net zero emissions. This discovery is expected to produce 500 million barrels of oil.
Secondly, the IMF has warned that cyber attacks could risk triggering bank runs, as research shows the number of malicious attacks has doubled since the pandemic.
Thirdly, a survey by the FCA found that baby boomers are coping best with higher bills, as they are more likely to own homes outright and have inflation-linked income.
Fourthly, Mohammed bin Salman has been forced to rein in his dreams of a skyscraper utopia in the Saudi desert, as plans for a mirror city lose their shine.
Lastly, Jeremy Warner discusses the failures in the Bank’s forecasting and how sound monetary policy must be based on sound judgement.
