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S&P downgrades scores of US banks as rate hikes bite

Banks have been forced to pay out higher interest to keep depositors from fleeing to other high-yielding alternatives

Place usaOrganisation sp global

Global factory slump from Ireland to Japan reflects strain of rate increases on demand

The downturn highlighted the dilemma for policymakers who embarked on aggressive rate hikes in a battle to keep inflation at bay, and yet also need to try and forestall potential recessions

Place germanyPlace japanPlace irelandPlace ukOrganisation aibOrganisation sp globalOrganisation eu

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