economy

The Bank of England must decide next week whether to join the ranks of central banks rushing out their biggest interest rate hikes in decades, or whether the warning signs of a recession mean it should tread more cautiously.

UK annual inflation hit a new 40-year high at 9.4 percent in June on surging fuel and food prices.

Surging petrol and food prices last month pushed British inflation to its highest rate in 40 years, according to official figures that bolstered the chances of a rare half percentage-point Bank of England interest rate hike next month.

Almost half of Britons are changing what they buy to feed their families as they try to navigate a worsening cost-of-living crisis, according to survey data published on Wednesday.

If dramatic losses seen in the first half of 2022 are maintained over the coming months, U.S.

African economies see reasons for optimism despite crises

Afghanistan's Taliban government has now dissolved the country's human rights commission along with four other key departments deeming them "unnecessary," as the country is facing a financial crisis.

Tory MP Lee Anderson has come under fire for insensitive comments made in the House of Commons wherein he said that poor people use food banks because they "cannot cook properly" and "cannot budget."

The benchmark S&P 500 is down approximately 16% for the year to date, near the 20% decline that typically signifies a bear market.

The Fed is the world's most influential central bank, and its policies have implications for lending globally.

The world's biggest economic powers, the United States and China, have not been spared from the economic impact of Omicron.

The OECD urged monetary policymakers to "communicate clearly" about how far they will tolerate inflation exceeding their targets.

BOE governor Andrew Bailey said central bankers face a "very difficult balancing act"

The FOMC will convene as the economy sends mixed signals about two of the central bank's top priorities: employment and prices.

The Consumer Prices Index hit an above-target 2.5 percent in June as Britain lifted virus curbs.

The Pfizer/BioNTech vaccine also has a 98 percent efficacy rate in preventing fever and breathing problems among patients.

It was not immediately clear if Trump, wounded by his election loss to Joe Biden, would take part in the summit or send a high level delegate in his place.

The positive figures come after three quarters of contraction in the world's third-largest economy.

While Trump is yet to concede, it is widely accepted that Biden will become the 46th president, removing a crucial hurdle for equity traders this year.

While opinion polls suggest overall public backing for the stay-at-home policy, concerns are mounting about the impact on the economy and on mental health.

Despite months of arduous talks in Washington, there appears to be little chance Republicans and Democrats will hammer out a rescue deal.

The South Korean tech giant said in an earnings estimate that it expected operating profit to reach 12.3 trillion won ($10.6 billion) for July to September.

Asian markets were mostly in positive territory.

Suga, who on Monday was elected leader of the ruling LDP, says his run was inspired by the desire to continue Abe's policies.

As regional economies contract this year the number of poor people will likely rise by at least 78 million.

A recession is defined as two consecutive quarters of contraction. Australia's economy shrank 0.3 percent in the previous three months.

It is the worst economic contraction for Japan since comparable data in 1980, eclipsing the brutal impact of the 2008 global financial crisis.

King Felipe of Spain called for unity and solidarity as his tour of different regions of Spain comes to an end.

The garden was redesigned by Rachel Lambert Mellon and US first lady Jacqueline Kennedy in 1961.

COVID-19 is forcing governments into a persistent balancing act between saving lives and preventing economic devastation.