The Week in Numbers: rates soar, Musk haggles

STORY: From rates soaring higher in the U.S. and UK, to why Elon Musk is haggling with Stephen King, this is the Week in Numbers.

Three quarters of a percentage point was the Fed’s latest rate hike.

Chair Jerome Powell says there’s more to come too.

He says it’s far too soon to think about pausing the increases.

3% is the Bank of England’s new benchmark rate.

That after it too did a three-quarter-point increase – the bank’s biggest hike since 1989.

Governor Andrew Bailey said rising inflation left no choice:

“So why are we doing it and why are we doing it now, when so many people are already struggling with higher energy and food prices and other bills? Well, quite simply, we are increasing bank rate because inflation is too high.”

$8 will be the monthly cost for keeping your coveted blue tick on Twitter.

Elon Musk, the social network’s new owner, says advertising alone can’t generate enough revenue.

A rumored $20 fee was seemingly dropped after a salty response from users including novelist Stephen King.

They should pay me, King said.

$8.15 billion was the quarterly profit at BP - more than double the number this time last year.

That could leave it vulnerable to a windfall tax.

This week U.S. President Joe Biden told big oil firms to stop what he called “war profiteering.”

And about $1 trillion was the total gain in value for Chinese stocks over the week.

Equities soared on hopes that China could be set to lift strict lockdowns.

Hong Kong’s Hang Seng index jumped over 5% on Friday alone.