Result Page 9 for Latest Economy News & Archive

Shoppers browse merchandise in a shopping mall on Orchard Road

Singaporeans hit the malls on smart shopping spree before sales tax hike

On Jan. 1 Singapore's sales tax goes up for the first time in 15 years.

Japan retail sales up for 9th month led by tourism help

Shoppers wearing protective masks choose clothes at Japan's supermarket group Aeon's shopping mall as the mall reopens amid the coronavirus disease (COVID-19) outbreak in Chiba

Japanese retail sales rose for a ninth straight month in November, data showed on Tuesday, as the lifting of COVID-19 border controls and the government's domestic travel subsidy helped consumer demand.

Prepay meters worsen energy inequality in UK

More than two million UK homes are connected via smart prepay devices to energy suppliers

More than two million UK homes are connected via such smart prepay devices which link up to suppliers and use remote credit payment.

People walk past an electric board showing Japan's Nikkei share average in Tokyo

Global stock rally fades as recession worries linger

A short-lived bounce for global stocks faded on Thursday, as easing U.S. inflation expectations were overshadowed by fears about an economic downturn.

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A bird flies past The Bank of England in the City of London

Bank of England readies another rate hike even as recession hits

A ninth interest rate hike in a row by the Bank of England looks to be a foregone conclusion on Thursday and investors will be looking for clues on how many more will be needed with the economy sliding into recession but inflation still above 10%.

A worker walks past inside the Asian Development Bank headquarters in Manila

ADB trims growth outlook for developing Asia as headwinds persist

The Asian Development Bank cut its growth forecasts for developing Asia for this year and next as the region faces persistent headwinds from the Russia-Ukraine conflict, China's COVID-19 policies, and a slowing global economy.

A view of London skyline seen from Lloyd's building in London

Britain to lay out financial reforms to 'turbocharge' growth

Britain will set out reforms on Friday to ease bank capital rules, one of 30 measures the government says will unlock investment and secure its position as the world's "foremost financial centre".

The Bank of England is seen against a blue sky, London

Bank of England set to raise rates to 3.5% after inflation hits 41-year high

The Bank of England looks set to raise interest rates to 3.5% or more next week, but policymakers appear increasingly split on how much tightening is needed to tame double-digit inflation as the economy heads into recession.

UK sees most widespread house price falls since May 2020: RICS

Britain saw the most widespread house price falls since early in the COVID-19 pandemic last month, as demand from buyers and sales activity slowed in the face of higher borrowing costs, a survey showed on Thursday.

A general view of the Canary Wharf financial district in London

Britain urges banks to offer mortgage flexibility in cost-of-living crisis

Britain has called on banks to support households finding it difficult to make payments on mortgages during the cost of living crisis.

Pubs took a hammering due to pandemic closures and social distance restrictions and are trying to claw back losses

UK pubs feel Christmas pressure as inflation bites

Pubs have been central to British communities for centuries, but their number has been dwindling for years and has plunged to its lowest ever level

The Elizabeth Tower, more commonly known as Big Ben, is seen reflected in a puddle as people walk outside the Houses of Parliament in London

UK economy to shrink in 2023, risks 'lost decade': CBI

Britain's economy is on course to shrink 0.4% next year as inflation remains high and companies put investment on hold, with gloomy implications for longer-term growth, the Confederation of Business Industry forecast on Monday.

Britain faces its biggest ambulance strike in 30 years

UK unions announce ambulance strike as stoppages widen

Numerous other public and private sector staff, from lawyers to airport ground personnel, have also held strikes this year

Cyber Monday operations at Amazon fulfillment center in Robbinsville, New Jersey

Cyber Monday sales to touch up to $11.6 billion as shoppers go discount hunting

Spending on Cyber Monday, the biggest U.S. online shopping day, may hit a record $11.6 billion, according to a report, as discounts on everything from pajamas to AirPods drive shoppers to buy even under the strain of inflation.

Marketmind: China crisis brewing

A look at the day ahead in Asian markets from Jamie McGeever.

Health service bosses have said nurses are skipping meals to feed and clothe their children

Nurses join other striking UK staff in two December walkouts

Numerous other public and private sector staff, from lawyers to airport ground personnel, have also held strikes this year.

ECB governing council member Mario Centeno speaks during an interview with Reuters, in Lisbon

Centeno wants ECB to send clear message of gentler rate hikes

The European Central Bank should slow the pace of interest rate hikes from December and send a clear message that 75-basis-point increases are not the norm, as inflation is likely to peak this quarter.

The day after Thanksgiving, 'Black Friday' marks the unofficial start of the holiday shopping season

Grinding inflation clouds 'Black Friday' shopping bonanza

Earnings reports from retailers in recent days have painted a mixed picture on consumer health.

UK finance minister Jeremy Hunt defended the government's Brexit deal with the EU

UK defends Brexit deal despite economic woes

The Bank of England and the government's independent spending watchdog have both said Brexit has hurt the UK economy and plunged it to the brink of recession.

Britain's Chancellor of the Exchequer Jeremy Hunt walks at Downing Street in London

UK public finances worsen, as OECD warns on outlook

The government and OECD both see UK growth of above four percent this year.

Pandemic prevention workers in protective suits walk near an apartment compound that was placed under lockdown as outbreaks of the coronavirus disease (COVID-19) continue in Beijing

Analysis-China's great reopening may come too late for many businesses

The culinary tourism business of Brian Bergey and his wife Ruixi Hu has persevered in China through three years of harsh COVID-19 restrictions.

Sunak ducked the CBI's call for more legal migrant labour

Recession-hit UK needs more migrant labour: business group

The UK has forecast its economy to shrink 1.4 percent next year, hit additionally by fallout from Brexit which has resulted in foreign workers returning home.

A strawberry crop is seen at Hall Hunter’s Tuesley Farm in this undated handout picture

As recession looms, British business sends out lending SOS

As inflation rockets and recession looms, many British businesses are struggling to secure affordable bank finance, piling pressure on the embattled UK government as it unveiled a budget aimed at reviving the economy.

More Britons to pay top income tax rate in budget squeeze

More Britons will pay the top rate of income tax under government plans announced on Thursday to freeze allowances and lower the level at which people start to pay the highest rate as part of measures to stabilise public finances.

City of London financial district during evening rush-hour in London

Explainer-Britain's insurers become test case for post-Brexit 'unshackling'

The British government and the Bank of England are reforming insurers' capital rules, seen as a post-Brexit test of UK willingness to "unshackle" the City of London after leaving the European Union.

UK banks say consumer safeguard could backfire in cost of living crisis

Britain's banks are proactively helping customers hit by the cost of living crisis, but implementing a new "consumer duty" on time could exclude vulnerable consumers from help, banking industry body UK Finance said on Wednesday.

The Bank of England and its governor Andrew Bailey say Brexit is hurting the UK economy

UK central bank blames Brexit for trade slump

The UK's exit from the European Union is having a disproportionate effect on trade, argued Bank of England monetary policy committee member Swati Dhingra.

Britain's new cabinet meeting at Number 10 Downing Street, London

UK to turn page on 'Trussonomics' with budget plan

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.

Jobless rate rises as UK prepares to tighten belts again

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.

Businesses can pass costs like higher wages through to customers via price increases.

UK recruiters plan record pay rises but real wages lag inflation, survey shows

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.

US Treasury Secretary Janet Yellen said the joint fund was an example of what the G20 can do to tackle global problems

G20 ministers launch billion-dollar pandemic fund

The fund's major donors include the United States, Britain, India, China, France, Canada, Australia and Japan.

Hungary's parliament convenes for autumn session, in Budapest

EU says Hungary made 'significant step' to get recovery funds

Hungary made a "significant step" towards securing billions in economic stimulus funds by accepting European Union demands on the independence of the judiciary, an official with the bloc told Reuters on Friday.

The EU's economy commissioner Paolo Gentiloni warned the eurozone faces recession this winter

EU warns of 'difficult months' as eurozone faces recession

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.

People walk across Millennium Bridge with the City of London financial district seen behind, amid the coronavirus disease (COVID-19) pandemic, in London

UK economy shrinks at start of feared long recession

Britain's economy shrank in the three months to September at the start of what is likely to be a lengthy recession, underscoring the challenge for finance minister Jeremy Hunt as he prepares to raise taxes and cut spending next week.

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