Three former Tory leaders will vote against Rishi Sunak’s Brexit deal on Wednesday as they join Eurosceptics who have warned it is not the right solution for Northern Ireland.
The European Central Bank's interest rate increases are just starting to take effect on the economy but their transmission may become stronger as a result of the banking turmoil, ECB President Christine Lagarde said on Wednesday. Investors are pondering whether the ECB will be able to continue raising rates to fight high inflation despite turmoil in the banking sector that has seen two U.S. lenders go under and Swiss giant Credit Suisse need a last-minute rescue. Lagarde said the ECB's actions to raise borrowing costs may be magnified if banks become more risk averse and start demanding higher rates when lending -- likely implying the central bank would need to increase its own rates by less.
A building collapsed Wednesday in Qatar's capital, killing at least one person as searchers clawed through the rubble to check for survivors, authorities said. Qatar's Interior Ministry described the building as a four-story structure in Doha's Bin Durham neighborhood. Qatar, a small nation that sticks out like a thumb into the Persian Gulf, hosted the FIFA World Cup last year.