The Pandemic Broke The Fed's Model; This Week May Show How Much
Federal Reserve Chair Jerome Powell used his first four years as the world's top central banker to reshape U.S.
Pakistan To Make IMF-backed Painful Economic Adjustments In FY2022-23 Budget
Pakistan's government is set to present a budget for financial year 2022-23 on Friday aimed at tight fiscal consolidation in a bid to convince the International Monetary Fund (IMF) to release much-needed bailout payments for the cash-strapped country.
Asia stocks edge higher, dollar in the doldrums
The steadier market mood has seen the safe-haven dollar and yen decline, while the euro was boosted by hawkish comments from European Central Bank (ECB) officials who have been flagging a rate hike as early as July.
Analysis-Britain's shrunken workforce hampers COVID recovery
Before the pandemic, Britain enjoyed steady labour force growth and high rates of participation.
Global firms warn of sluggish China demand due to lengthy COVID curbs
Retail sales in April shrank 11.1% year-on-year, after falling 3.5% in March.
UK unemployment dips but wages hit by inflation
Total employment remained below its pre-pandemic level, with job vacancies at a record-high of almost 1.3 million at the end of April.
U.S. unemployment rate expected to fall to 3.5% in April, job gains to slow
There are concerns the Fed could raise rates too high and choke off economic growth
UK inflation spikes to decade-high on eve of BoE rate call
Omicron, which emerged late last month, forced Britain to re-impose coronavirus restrictions that were passed by lawmakers late on Tuesday.
UK vows new pandemic support for workers
Protesters at the conference in Manchester, northwest England, accused the Conservatives of abandoning the poor.
Uptick in new US unemployment benefit claims slows
Claims are a closely-watched metric of labor market health, and shot into the millions when the pandemic broke out in the United States in March 2020.
UK risks social crisis as jobs support scheme ends
Britain's unemployment rate stands at 4.6 percent, down from a pandemic-peak of 5.2 percent at the end of last year.
Fed expected to stay cautious as economy sends mixed signals
The FOMC will convene as the economy sends mixed signals about two of the central bank's top priorities: employment and prices.
Bank of England mulls inflation threat
The Consumer Prices Index hit an above-target 2.5 percent in June as Britain lifted virus curbs.
New Las Vegas casino bets on post-Covid recovery
After shutting down during the most severe stretch of the pandemic, Las Vegas casinos reopened in June 2020 with face-mask requirements and other strict protocols.
Israel reopens economy as COVID-19 infection risk drops 95.8 percent after Pfizer vaccine second dose
The Pfizer/BioNTech vaccine also has a 98 percent efficacy rate in preventing fever and breathing problems among patients.
Biden vows to 'act fast' on US stimulus amid weak January hiring
Biden's efforts received a big endorsement, when IMF chief Kristalina Georgieva offered her support for the plan, and rejected the notion it was excessive.
'Cobra Kai' season 4 to start production soon
Casting calls hinted at the start of filming for "Cobra Kai" season 4 this week.
Equities rally after Biden is declared winner of US vote
While Trump is yet to concede, it is widely accepted that Biden will become the 46th president, removing a crucial hurdle for equity traders this year.
Trump vs Biden: Fed in holding pattern amid tense US election
Weekly applications for jobless benefits remain higher than the worst of the 2008-2010 global financial crisis.
Equities down on coronavirus woes
Executives from large US banks said additional support was needed for the coronavirus-ravaged economy.
Fed seeks to offer reassurance amid push for new US stimulus
The two-day event concludes amid a renewed push by a top lawmaker in Washington to agree on an additional spending bill to prop up the economy.
Asian stocks lifted by vaccine hopes, but new cases cause concern
The head of the World Health Organization's European branch said new widespread lockdowns would not be needed.
Italian Supreme Court says parents do not need to be financially responsible for adult children
Statistics show that 65 % of Italians between the ages of 18 and 34 are still living with at least one parent
GDP stats to reveal depths of virus-fuelled UK recession
The UK economy contracted by 2.2 percent in the first quarter.
BoE sees less severe UK downturn
The pound rallied on the update, which included news that the BoE held its main interest rate at a record-low 0.1 percent.
Two huge Beirut explosions kill 78, injure thousands
The explosions which were heard in Nicosia, 240 kms away in Cyprus were logged by seismologists, registering as the equivalent of a 3.3-magnitude earthquake.
US notches 4 mn virus cases, Europe tops 3 mn amid fresh outbreaks
The US, the hardest-hit country by the virus, added one million new cases in just over two weeks, according to Johns Hopkins University.
Asian markets tumble as infection rates jump
Asia tracked the New York losses, with profit-taking also playing a part after a broadly strong week.
Trump to extend US work visa freeze to year-end: White House
Layoffs caused by the coronavirus pandemic in the US passed 45.7 million last week.
Bank of England readies more crisis-fighting stimulus
The British central bank has been at the forefront of economic fire-fighting over this year's deadly COVID-19 emergency.