Britain on Wednesday unveils a new cost-of-living budget, including more help on soaring energy bills, but the government is set to stand firm on rising public sector pay demands as the country endures a fresh wave of strikes.

British finance minister Jeremy Hunt will announce on Wednesday how he will try to speed up the world's sixth-biggest economy after the shocks of Brexit, a heavy COVID-19 hit and double-digit inflation have left it lagging behind its peers.

Growth in pay in Britain - which the Bank of England is watching closely as it weighs up whether to pause its run of interest rate hikes next week - lost pace in the three months to January, official data showed on Tuesday.

A new proposed UK data bill would reduce pointless paperwork for UK businesses and other EU countries could follow suit to ease European companies.

Global stock markets sank Friday as banking shares faced a rout over contagion fears, while US jobs data was seen all but ensuring further aggressive interest rate hikes.

General Motors Co on Thursday said it was offering buyouts for most of its salaried employees and expects to take a pre-tax charge of up to $1.5 billion to cover the costs.

In their fifties and deciding there was more to life than work, Liz and Ian Woodbridge quit stressful jobs during the pandemic - part of a cohort of British early retirees now resisting a government call to return, despite rising living costs.

Two years after inflation began its rapid ascent, investors, economists and policymakers remain divided on the path ahead.

The European Union's executive body said on Wednesday it will finalise a long-delayed discussion forum for EU and UK financial regulators, once the deal on Northern Ireland has been implemented by Britain.

Markets sank Wednesday, the dollar held big gains and oil struggled to recover from hefty losses after Federal Reserve boss Jerome Powell opened the door to a quicker pace of interest rate hikes as officials battle to tame inflation.

Britain's labour market showed further signs of cooling as permanent job placements fell for the fifth month in a row in February and pay growth slowed, reflecting employers' concerns about the economy, a survey published on Wednesday showed.

Stock markets mostly rose and the dollar firmed Tuesday as traders awaited more clues on the outlook for US interest rate hikes from the head of the Federal Reserve.

Asian financial markets were little changed on Tuesday as investors awaited congressional testimony from Federal Reserve Chair Jerome Powell due to start later in the day for clues on the central bank's next move on interest rates.

Stock market investors are calling time on the idea that the Federal Reserve, and other major central banks, have their back.

Markets have become resigned to more rate rises from the Federal Reserve but are hoping it will stick with quarter-point moves rather than switch back to half-point hikes.

The U.S. dollar made a tentative start to the week on Monday as investors awaited testimony from Federal Reserve Chair Jerome Powell and looked towards for a February jobs report that will likely influence how hawkish the U.S.

In the 37 years since the last coal pit closed in Whitehaven, the once-proud mining town on northwest England's remote Cumbrian coast has hit on hard times.

The number of Americans filing new claims for unemployment fell again last week, pointing to sustained labor market strength and adding to financial market fears that the Federal Reserve could keep hiking interest rates for longer.

S&P 500 sheds 2%, FTSE 100 is expected to open lower, while the UK has seen the British pound fall against the dollar as the government negotiates with the striking public sector.

European equities rebounded Monday after sinking last week on renewed fear of more aggressive US interest rate hikes, dealers said.

UK Chancellor Jeremy Hunt believes "being a technology superpower can change our country's destiny" and has plans to "unlock our national potential to be one of Europe's most exciting, most innovative and most prosperous economies".

Ben Harrison suggests long-term investments and reforms for the UK's employment services, as the nation's economic challenges continue to haunt employers and employees alike.

At the end of last year, National Energy Action warned that by April 2023 8.4 million households would be in fuel poverty.

While AI can automate mundane and repetitive tasks, allowing employees to focus on more complex tasks in the workplace, there is a real threat of AI replacing humans in addition to other concerns.

Surprisingly strong services growth meant the recovery in euro zone business activity gathered steam this month, expanding much faster than thought, according to a survey on Tuesday, the latest evidence the currency union could escape a recession.

New trending workplace phenomenon, 'Quiet Hiring', describes the practice of companies filling vacancies - without doing any actual hiring.

China's job fairs are making a comeback after being forced online by COVID-19 for three years, but subdued wages and less abundant offerings in sectors exposed to weakening external demand point to an uneven and guarded economic recovery.

Australia employment surprised in January by falling for a second straight month while the jobless rate jumped to its highest since last May, a soft result that could lessen pressure for further aggressive interest rate hikes.

The European Parliament on Tuesday gave its final approval to a ban on new sales of carbon-emitting petrol and diesel cars by 2035, with a view to getting them off the continent's roads by mid-century.

US automaker Ford said Tuesday it would cut 3,800 jobs in Europe, mostly in Britain and Germany, as competition in the electric car sector intensifies.