STORY: From Europe’s mounting gas crisis, to the ECB going big in the battle against inflation, this is the Week in Numbers. First up…
Up to 35% was the surge in European natural gas prices at one point Monday, after Russia halted flows through a key pipeline.
Later in the week, Russian President Vladimir Putin put yet more upward pressure on prices.
He says he could cut off supplies altogether, if Europe goes ahead with plans to cap prices for the country’s gas.
Upward of 100 billion pounds, or about $115 billion, is the cost of capping energy bills in Britain.
New Prime Minister Liz Truss set out the plans, having earlier said she was against “handouts”:
“This government is moving immediately to introduce a new energy price guarantee that will give people certainty on energy bills. It will curb inflation and boost growth.”
Three-quarters of a percentage point was the unprecedented hike in rates by the European Central Bank.
Policymakers followed the U.S. Federal Reserve in showing they were determined to battle inflation even as recession risks rise.
Just below 99 cents to the dollar was the near-two-decade low hit by the euro this week.
The European currency has been battered by worries over the energy crisis and growth. Similar worries have seen the greenback soar against sterling and yen, too.
And around $85 billion is the estimated value of Porsche as it speeds towards a share sale.
Volkswagen confirmed this week that it would press ahead with a listing for the luxury car brand, possibly within weeks.