British companies are the most downbeat about the outlook for their profits since the depths of the COVID-19 pandemic in late 2020 despite widespread plans to raise prices, a major survey showed on Thursday, adding to signs of gloom about the economy.
Dreamt up in the 1960s to attract tourists, Spain's three-course "menu del dia", or set lunch menu, has long been seen as the best deal in town.
Tesco, Britain's biggest retailer, forecast full-year profit at the lower end of its previous guidance, blaming uncertainty over how consumer spending will evolve amid a worsening cost-of-living squeeze.
New research by the International Monetary Fund shows that sustained wage-price spirals are historically rare, and recent sharp interest rate hikes by central banks are likely to help prevent high inflation expectations from becoming entrenched.
Prime Minister Liz Truss will on Wednesday press her message that Britain needs "to do things differently" to kickstart stagnant growth, using her first speech to the party faithful as Conservative leader to try to restore her dwindling authority.
France and Germany pledged on Friday to act together to protect households and companies from soaring energy prices, while also using fiscal policy to fight record high inflation.
Macy's Inc expects another early start to holiday season shopping this year, a contrast to a prediction from Best Buy Co Inc that highlights the uncertainty among U.S.
Britain's surging inflation could slow if new Prime Minister Liz Truss helps households and businesses cope with rocketing energy costs, but it is too soon to say what that will mean for interest rates, the BoE's chief economist said.
Britain's new Prime Minister Liz Truss on Wednesday readied the final details of a plan to tackle soaring energy bills, which looks likely to cool inflation but add more than 100 billion pounds ($115 billion) to the country's borrowing.
Undaunted, Truss declared from the steps of 10 Downing Street Tuesday that tax cuts would indeed form part of her package to address economic turmoil stoked by Russia's war in Ukraine and the pandemic aftermath.
Eurozone inflation hit 9.1 percent in August, a record in the history of the single currency and well above the two-percent rate targeted by the ECB.
British shoppers are cutting back on purchases of clothes and other non-essential items as they try to cover their sky-rocketing utility bills and higher food prices, surveys showed on Tuesday.
Indonesia's government expects inflation to stay above the central bank's target, forecasting an increase to between 6.6% and 6.8% this year after it raised fuel prices but said the measure would have minimal impact on economic growth.
Turkey's inflation stays at 80% in boost to Erdogan
British foreign minister Liz Truss said on Sunday she would set out immediate action in her first week in power to tackle rising energy bills and increase energy supplies if she is, as expected, appointed prime minister.
Just as inflation ravages the big guns of U.S. apparel retail, awash in high inventory and deep discounts to lure shoppers back to stores, Japan's Uniqlo is set for its best year ever in North America after a COVID-imposed revolution in its business model.
U.S. manufacturing grew steadily in August but factory activity in China, the euro zone and Britain fell as Russia's war in Ukraine and China's zero COVID-19 curbs continued to hurt businesses.
Europe's wealthiest nations face rising risks of civil unrest over the winter, including street protests and demonstrations, due to high energy prices and mounting costs of living, according to a risk consultancy firm.
UK household incomes are set to fall 10 percent in real terms in the next two years in the steepest such drop for a century.
The Italian government is preparing a new multi-billion euro package to help shield firms and families from surging energy costs and rising consumer prices, Foreign Minister Luigi Di Maio said on Thursday.
Manufacturing activity across the euro zone declined again last month as consumers feeling the pinch from a deepening cost of living crisis cut spending, a survey showed on Thursday, providing more evidence of the growing risk of recession.
British businesses have increasingly high expectations for inflation and wage costs over the coming year, according to a Bank of England survey which is likely to boost policymakers' concerns that it will be hard to get inflation back to target.
