Asian share markets turned hesitant on Monday as investors fretted about the economic fallout from fresh COVID-19 restrictions in China, while bonds and the dollar braced for more updates on U.S.

Tesco, one of Britain's largest private-sector employers, is offering its staff advances on their pay in the latest sign of the distress arising from a worsening cost-of-living crisis.

British finance minister Jeremy Hunt appears to have delayed the "properly tough" decisions needed to balance the public finances, possibly in the hope of an economic upturn that will reduce the need for a painful squeeze, a think-tank said.

The story of brutally effective financial markets disciplining errant governments has been repeated many times since the most recent wave of globalisation began in the 1990s.

Finance minister Jeremy Hunt will bury Britain's failed "Trussonomics" experiment on Thursday by cutting spending and raising taxes, moves that he and Prime Minister Rishi Sunak say are needed to restore investor confidence.

Britain's unemployment rate unexpectedly rose and vacancies fell for a fifth report in a row as employers worried about the outlook for the economy, official data showed on Tuesday, ahead of a tough government budget plan later this week.

British employers are planning the biggest pay hikes in a decade to fill roles but real-term wages will still grow more slowly than inflation, a survey showed on Monday.

The EU warned Friday the eurozone was set to fall into recession this winter as Brussels hiked inflation forecasts for 2022 and 2023 on the back of high energy prices.

The number of people who have dropped out of Britain's job market since 2019 and who now cite a long-term illness or mental health problems has risen by half a million or about 25%, the Office for National Statistics (ONS) said.

Greek workers went on a day-long strike on Wednesday, demanding higher wages to cope with surging inflation, as Europe's soaring energy prices and living costs trigger industrial action and protests across the continent.

British employers cut their hiring of permanent staff via recruitment firms for the first time in nearly two years in October as the country's political upheaval added to concerns about the economy, a survey showed on Thursday.

Euro zone government bond yields rose on Tuesday as investor focus was squarely pinned on central banks' fight against inflation, ahead of U.S.

The U.S. dollar sank on Monday against the euro and sterling supported by a risk on sentiment and a rally in the European stocks market.

The Bank of England raised interest rates by the most since 1989 on Thursday but it also warned that Britain faced a long recession and told investors borrowing costs were likely to go up by less than they expect.

The dollar was on the front foot on Thursday after Federal Reserve Chair Jerome Powell signalled U.S.

Europe needs its industrial companies to save energy amid soaring costs and shrinking supplies, and they are delivering - demand for natural gas and electricity both fell in the past quarter.

British Prime Minister Rishi Sunak on Wednesday postponed an eagerly awaited budget plan due next week, as the youthful new leader got down to business after weeks of political turmoil.

Britain's next prime minister, former finance chief Rishi Sunak, inherits a UK economy that was headed for recession even before the recent turmoil triggered by Liz Truss.

Britain's third female prime minister beat Johnson's former finance chief Rishi Sunak for the top job on a platform of sweeping tax cuts that won over the Tory rank-and-file.

Embattled British Prime Minister Liz Truss on Thursday acknowledged a "difficult day" after a key minister resigned and MPs rebelled.

Rishi Sunak has entered the picture once more after losing to Truss during their bid to replace Boris Johnson.

The screeching about-turn on tax cuts by finance minister Jeremy Hunt on Monday will not spare Britain from painful spending cuts and new tax hikes to fix the country's public finances.

New finance minister Jeremy Hunt promised to win back Britain's economic credibility by fully accounting for the government's tax and spending plans, while insisting his boss Liz Truss remained in charge of the country.

UK finance minister Kwasi Kwarteng dashed home Friday from Washington for crisis talks with Prime Minister Liz Truss.

British house prices rose last month at their slowest pace since early in the coronavirus crisis and they look on course to fall as a surge in mortgage costs adds to uncertainty about the economy for home-buyers, a survey showed on Thursday.

Liz Truss successfully campaigned to become prime minister by saying she was opposed to the idea of a tax on the profits of energy giants.

Britain's beleaguered Prime Minister Liz Truss vowed Wednesday not to cut public spending.

The dollar rose to a fresh 24-year high against the yen on Wednesday, moving above levels that prompted intervention by Japanese officials last month, as traders braced for U.S.

British shoppers are stocking up on electric blankets, candles and energy-efficient slow cookers as surging gas bills and record food price inflation force millions of people to prepare for a tough winter ahead.

Volkswagen is looking at automating 20-30% of production at its upcoming Trinity plant near its Wolfsburg headquarters, the plant's chief production officer said on Tuesday.