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Political system or Swiss culture?

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Swiss consumer price inflation slowed to 3.3% in September but exceeded the SNB’s 0-2% target range for the eighth consecutive month.

Economists had expected the annual rate to remain steady at 3.5% in August, a 29-year high.

The index decreased 0.2% compared to August due to lower prices for fuel, heating oil, hotels and supplementary accommodation. The prices of clothes and shoes went up.

over here full storyvia Johan C.

the post Political system or Swiss culture? first appeared marginal revolution.

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Economic

Coinbase says Apple blocked latest app release on wallet NFTs by Reuters

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© Reuters. FILE PHOTO: A representation of the cryptocurrency is seen in front of the Coinbase logo in this illustration taken March 4, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) – Coinbase Global Inc said on Thursday that customers using Apple Inc’s (NASDAQ::) iOS will no longer be able to send non-fungible tokens (NFTs) to its wallet.

Coinbase (NASDAQ:) added in a tweet: “Apple’s claim is that gas fees required to send NFTs must be paid through an in-app purchase system, so they can charge you 30% of the gas fee.”

The 30% fee has been a point of contention between the world’s most valuable company and other app developers like Spotify (NYSE: ) and “Fortnite” maker Epic Games, which has accused the company of abusing its “monopoly.”

Apple did not immediately respond to a Reuters request for comment.

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UK regulator to investigate rising mobile phone and broadband prices

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The UK’s telecoms regulator has launched an investigation into whether telecoms companies were upfront with customers about price increases in a contract after complaints of a lack of transparency.

Ofcom will study whether mobile and broadband service providers made customers who signed a deal with the company between March 2021 and June 2022 sufficiently aware of changes to their pricing terms.

As inflation soared as the cost-of-living crisis intensified, telecom groups collapsed audit From the regulator and politicians about whether they acted enough to support struggling families and broke the rules of transparency. UK inflation hit a 41-year high of 11.1 percent in October.

Most operators chose to significantly increase their prices above the rate of inflation earlier this year, which boosted core revenue. For example, BT, Vodafone and EE raised their prices in line with the CPI, plus 3.9 percent.

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Ofcom He said he was concerned that such intra-contract price differences were not “sufficiently prominent or transparent” at the point of sale, as required by the regulator’s rules. If cases of non-compliance are identified, Ofcom may initiate an investigation into said operators.

said Lindsey Fossell, group director of regulator networks and communications.

Ofcom’s latest affordability report, published on Thursday, found that 32 per cent of households had problems paying for phone, broadband, pay TV or broadcast bills – more than double the level of April 2021.

It also found that 17 percent of households are currently cutting back on other spending, such as food and clothing, to afford telecom services — up from 4 percent in June 2021.

Dana Toback, chief executive of Hyperoptic, a broadband provider that chose not to raise its prices above inflation rates this year, said Ofcom’s investigation was “a huge step forward in preventing the consumer from harm caused by higher mid-price contracts”.

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This year’s Hyperoptic survey found that 60 percent of people were unaware that the price of their broadband would increase mid-decade.

“We work hard to make sure that the annual price increase is clearly defined and discussed at each registration or renewal,” said BT, which also owns EE, adding that the company also showed customers how price changes worked in the contract.

“We follow industry best practices, and will participate fully in the Ofcom programme,” she said.

Vodafone did not immediately respond to a request for comment.

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Georgieva of the International Monetary Fund to discuss the economy and Covid with Chinese authorities via Reuters

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© Reuters. International Monetary Fund Managing Director Kristalina Georgieva attends a press conference following a meeting at the Federal Chancellery in Berlin, Germany on November 29, 2022. REUTERS/Michel Tantosi

NEW YORK (Reuters) – International Monetary Fund Managing Director Kristalina Georgieva said on Thursday that she will travel to Beijing next week with heads of other international institutions to discuss China’s economic outlook and COVID-19 policies with the country’s leadership.

“This is the first time, and we hope we can sit down together and discuss the very pressing issues facing China and the world,” Georgieva told the upcoming Reuters conference.

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