More signals from the Federal Reserve. UK inflation hit double digits and jolted bond markets. China's biggest private company posted its first quarterly decline ever. Plus, a huge Chinese food delivery app has gone bust.
Federal Reserve officials discussed the need to keep interest rates at levels that restrict the economy “for some time” in a bid to contain inflation, Short-term UK borrowing costs surged to the highest level since 2008, and Tencent posts its first quarterly revenue fall. Plus, the collapse of Chinese food delivery app, Miss Fresh, could be a cautionary tale for other tech giants in China.
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