UK inflation accelerates to 41-year peak
British inflation has jumped to a 41-year high on soaring energy and food bills in a worsening cost-of-living crisis, data showed Wednesday on the eve of a key budget.
Sterling, Big Oil and homebuilders: The winners and losers from upcoming UK budget
The moment of truth is almost here for Britain's new prime minister Rishi Sunak and finance minister Jeremy Hunt.
Crypto: what could more regulation mean for the future of digital currencies?
While traditional financial markets are heavily regulated, crypto is not, something that looks likely to change following FTX's recent difficulties
European stock investors on alert for heightened balance sheet stress
Stock pickers have a message for company finance bosses and it's getting louder: bolster your balance sheets before the downturn strikes.
More UK misery as economy contracts in third quarter
Britain's economy shrank in the third quarter as inflation soars, official data showed Friday, likely confirming it is already in a recession, dealing a fresh blow to new Prime Minister Rishi Sunak.
Thousands rally in Spain to demand pay hikes amid high inflation
Thousands of Spaniards packed Madrid's landmark Plaza Mayor square on Thursday to demand higher pay in the first mass protest since the start of the cost of living crisis.
Apple workers in Australia gear up for more strike action
Hundreds of Apple workers in Australia are set to strike again after almost two-thirds of employees rejected a pay and benefits deal, the latest escalation of a fight that has seen weeks of walkouts at stores around the country.
Bank of England poised to raise rates by most in 33 years
The Bank of England looks set to raise borrowing costs by the most since 1989 next week even as it prepares for a recession that could be deepened by spending cuts under new Prime Minister Rishi Sunak.
Analysis: UK's Hunt faces triple threat from debt, recession and conservative rebels
Newly confirmed finance minister Jeremy Hunt must keep investors calm about Britain's debt mountain, avoid causing a deep recession and work out a way to stop the Conservative Party from splintering again - and all of it by next Monday.
Analysis-Despite tax U-turn, UK's Hunt still faces tough budget choices
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.
European airlines see travel withstanding consumer squeeze for now
British Airways-owner IAG, Europe's biggest airline Ryanair and rival easyJet said demand for travel was holding up, calming worries that pressure on household budgets could stall aviation's recovery from the pandemic.
Australia's Qantas forecasts return to first-half profit as conditions improve
Qantas Airways Ltd will return to a profit in the first half for the first time since the pandemic began as demand rebounds and it focuses on ensuring reliable operations and sweetens its wages offer to employees, its chief executive said.
Britain warns of tighter rules for crisis-hit LDI funds
Britain's financial regulators will work together to tighten rules for pension funds which use derivatives to insure themselves against big moves in bond markets, drawing on lessons from past crises, the Bank of England said on Wednesday.
Global Bond Funds See Biggest Outflows In Two Decades
Global bond funds saw the biggest outflows in two decades in the first three quarters of this year as hefty interest rate increases by central banks to tame inflation sparked fears of a recession.
UK rail workers stage latest strike over pay
Train travel in Britain was disrupted on Wednesday by the latest in a string of strikes by railway workers over wages.
UK's Truss refuses to rule out welfare cuts to fund economic plan
British Prime Minister Liz Truss has refused to rule out cutting benefit payments by less than soaring inflation to help fund her tax-cutting growth plan in what is likely to spark the next political rebellion over her economic plans.
Mini-budget: lessons from the UK's long history of economic crises
From 1925, the Bank of England had kept interest rates high to keep the pound at a fixed parity to gold
Mini budget: how will tax cuts and stamp duty affect young adults?
Liz Truss's government is following an economic doctrine which argues that richer people are more likely to invest, set up businesses, hire people and grow the economy.
Ireland aims to ease cost of living squeeze with 'two budgets in one'
Ireland will deliver what ministers have called two budgets in one on Tuesday, making the usual spending increases and tax cuts while also helping firms and consumers pay soaring energy bills in what they hope will be a one-off intervention.
Carrefour management increases offer in wage talks with unions
France's biggest retailer Carrefour has increased its offer in the third round of wage talks with unions, suggesting a 2.5% pay hike from November this year, a company spokesperson said on Thursday.
Analysis: Price Hikes Test Inditex's Ability To Stay In Fashion
Zara owner Inditex's strong first-half results show its strategy of raising prices since early 2022 paying off so far, but it and other fashion retailers have to be careful not to overdo it with further hikes that may scare away shoppers, analysts said.
UK inflation eases from 40-year high
UK inflation has eased on lower motor fuel costs but remains close to 40-year peaks, official data showed Wednesday as the nation faces more strikes over a cost-of-living crisis.
Gusher Of Pandemic Aid Averted Global Depression, But Left A Bad Hangover
Economists around the world, from the most liberal free-spenders to fiscal conservative deficit hawks, largely agreed the coronavirus pandemic required a go-big, go-fast policy response to avoid an outright global depression.
Truss to meet cabinet, face MPs on first full day in power
Truss, who officially became leader Tuesday at an audience with head of state Queen Elizabeth II in Scotland after the resignation of Boris Johnson, is set to meet her top team at a morning meeting.
Factbox-Europe's efforts to shield households from soaring energy costs
Europe faces massive increases in energy bills driven by rocketing gas prices as the Ukraine conflict and European sanctions on Russia heighten concerns over gas supplies.
Britain's Truss expected to be named Conservative leader, new PM
Liz Truss is expected to be named leader of the governing Conservative Party and Britain's next prime minister on Monday, poised to take power at a time when the country faces a cost of living crisis, industrial unrest and a recession.
UK house price surge to end as cost of living crisis bites - Reuters poll
The surge in British house prices will come to an end next year as the cost of living crisis and rising borrowing costs put the brakes on what has been a buoyant market for years, a Reuters poll found.
High energy prices threaten UK hospital services
NHS England set aside £1.5 billion to cover an expected ₤485-million increase in energy bills. But the estimate was made in May and prices have risen again.
As Natural Gas Prices Jump, Shale Oil Firms Get Gassy
Natural gas a few years ago was so unwanted that U.S. shale oil producers sold it at cost just to pump more oil.
Energy price hikes could force UK pubs to shut
Britain's cost of living crisis has seen inflation soar to 40-year highs, with a widening number of strikes over pay offers that fail to keep pace with rising prices.