The global economy is approaching a recession as economists polled by Reuters once again cut growth forecasts for key economies while central banks keep raising interest rates to bring down persistently-high inflation.

European shares fell for a fifth straight session on Tuesday, pressured by a rise in government bond yields globally, with investors worrying about a potential recession and the impact on corporate profits from a rapid rise in interest rates.

The Bank of England on Tuesday unveiled yet more measures aimed at calming markets rocked by a UK budget as it warned over risks to the nation's financial stability.

Britain reported a record jump in the number of people leaving the labour market in the three months to August, adding to the Bank of England's inflation headaches.

The dollar started the week firmly on Monday, with a strong U.S.

U.S. stock indexes futures pared losses on Thursday, with Nasdaq futures briefly turning positive after data showing an increase in weekly jobless claims suggested the Federal Reserve may need to ease its aggressive monetary tightening cycle.

The number of Americans filing new claims for unemployment benefits increased by the most in four months last week, but the labor market remains tight even as demand for labor is cooling amid higher interest rates.

Euro zone government bond yields rose on Wednesday, but stayed well below multi-year highs, as concerns about systemic risks and economic slowdown led investors to lower bets on where interest rates might peak.

From 1925, the Bank of England had kept interest rates high to keep the pound at a fixed parity to gold

Euro zone finance ministers are likely to pledge on Monday that national financial shields against soaring energy costs will be temporary and targeted, so as not to trigger a wage-price spiral that would boost already record high inflation, officials said.

European stock markets climbed Friday but the pound and euro fell as traders assessed mixed growth and inflation data.

Eurozone consumer prices skyrocketed by a record 10 percent in September, official data showed on Friday.

The Swiss National Bank sold 5 million Swiss francs ($5.1 million) worth of foreign currency in market interventions in the second quarter of 2022, data on Friday showed, ending an era of heavy foreign currency purchases to curb the franc's gains.

After weeks of lobbying the White House on how gig workers should be treated, the rideshare, delivery and retail industries are bracing for a new rule that is likely to make it easier to classify them as employees, multiple sources say.

The U.S. Federal Reserve will need to raise interest rates to a range between 4.50% and 4.75%, Chicago Fed President Charles Evans said on Tuesday, a more aggressive stance than he has previously embraced that underscores the central bank's hardening resolve to quash excessively high inflation.

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.

Fraudsters likely stole $45.6 billion from the United States' unemployment insurance program during the COVID-19 pandemic by applying tactics like using Social Security numbers of deceased individuals, a federal watchdog said on Thursday.

The Federal Reserve is expected on Wednesday to lift interest rates by three-quarters of a percentage point for a third straight time and signal how much further and how fast borrowing costs may need to rise to tame a potentially corrosive outbreak of inflation.

Expectations of more Federal Reserve tightening and economic worries are weighing on a rebound in consumer discretionary stocks, though some investors believe the sector will outperform other areas of the market if growth begins to wobble in coming months.

US Fed set to raise interest rates as recession fears mount

For years, Aracely Sanchez went to work without counting her hours, always fearful she could lose her job from one day to the next.

Before the pandemic, Doris Fu imagined a different future for herself and her family: new car, bigger apartment, fine dining on weekends and holidays on tropical islands.

Share markets idled in Asia on Monday as investors braced for a week littered with 13 central bank meetings that are certain to see borrowing costs rise across the globe and some risk of a super-sized hike in the United States.

A British youth charity set up by the then Prince Charles in the 1970s that has helped a million young people, including actor Idris Elba, to get training, find work or create community projects will continue to operate now he is monarch.

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Britain's jobless rate hit its lowest since 1974 but the drop was due mostly to a fall in the size of the workforce and there were other signs that the country's jobs boom is petering out, adding to the Bank of England's inflation headache.

Uber Technologies Inc said on Monday it back-paid New Jersey $100 million in unemployment taxes over classifying drivers as contractors

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.

Throughout his long wait to ascend the throne, King Charles stood out for his outspoken views on everything from climate change to architecture.