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Wages overtake inflation to end squeeze

Wages overtake inflation to end squeeze

Business
Wage growth rose to 2.8% in the three months to February, outstripping inflation for the first time in a year, official figures show.The figures from the Office for National Statistics (ONS) signal an end to the squeeze on household incomes after the slump in the pound following the Brexit vote drove the cost of living higher.Inflation had topped 3% in recent months but more recently has eased, dipping to 2.7% in February.The return to real terms wage growth will revive hopes for the struggling high street, where retailers have been struggling thanks to the strain in consumers' finances.It should also keep up expectations that the Bank of England will raise interest rates to 0.75% next month.There was a further boost from the official labour market statistics as the unemployment rate fell ...
Bitcoin energy use in Iceland set to overtake homes, says local firm

Bitcoin energy use in Iceland set to overtake homes, says local firm

Technology
Iceland is facing an "exponential" rise in Bitcoin mining that is gobbling up power resources, a spokesman for Icelandic energy firm HS Orka has said.This year, electricity use at Bitcoin mining data centres is likely to exceed that of all Iceland's homes, according to Johann Snorri Sigurbergsson.He said many potential customers were keen to get in on the act."If all these projects are realised, we won't have enough energy for it," he told the BBC.Mr Sigurbergsson's calculations were first reported by the Associated Press.Iceland has a small population, of around 340,000 people.But in recent years it has seen a marked increase in the number of new data centres, often built by firms wishing to tout green credentials. Nearly 100% of energy in Iceland comes from renewable sources.Bitcoin mini...