Inflation

U.S. stock investors could not be more eager to turn the page on 2022, a brutal year dominated by market-punishing Federal Reserve rate hikes designed to tamp down the steepest inflation in 40 years.

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

Oil prices rose in light trade on Tuesday on concerns that winter storms across the United States are affecting logistics and production of petroleum products and shale oil.

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

The global financial crisis has cost Britain up to £7.4 trillion in lost output alone.

Gregorina Victorica, 86, a retiree in Buenos Aires has been cheering Argentina's victory in the soccer World Cup, which has lifted spirits in the South American nation and brought joy to people hard hit by rising prices and economic malaise.

Corporate earnings growth is expected to slow in the year ahead in many countries as higher inflation and rising interest rates take an even bigger toll and companies brace for the likelihood of a global economic downturn.

The management of South London Pub opened a soup kitchen to help the homeless amidst inflation and hiring challenges on firms.

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%.

Britain proposed over 30 reforms on Friday to bolster the City of London's role as a global financial centre, now outside the European Union and facing competition from Amsterdam, Paris and Frankfurt, as well as New York and Singapore.

The dollar firmed on Monday after data showed producer prices in the United States rose more than expected last month, pointing to persistent inflationary pressures and stoking fears the Federal Reserve would need to keep rates higher for longer.

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 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.

The dollar crept higher on Wednesday as top executives from the biggest U.S. banks warned of an impending recession, which dampened risk appetite and kept the greenback supported.

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

EU countries have poured criticism on the IRA, seeing it as a threat to European jobs, especially in the energy and auto sectors.

Turkey's inflation slowed in November for the first time since May 2021, official data showed on Monday, delivering a boost to President Recep Tayyip Erdogan ahead of next year's election.

Asian shares edged higher on Monday as investors hoped steps to unwind pandemic restrictions in China would eventually brighten the outlook for global growth and commodity demand, even if full freedom could be months away.

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.

With central banks ratcheting up their response to a global inflation shock, debate is shifting from when they'll win the war to whether faster rising prices are here to stay in a supply-constrained world.

Universal free school meals would put money back in the pockets of parents who are either currently purchasing school meals or preparing packed lunches.

British property market activity stalled in October and house price growth slowed to its lowest quarterly level since February 2020 due to a disastrous "mini-budget" and a cost-of-living crisis, a survey released on Monday showed.

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.

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

The outlook for airlines has darkened as the post-pandemic boom in travel wears off and recession looms, with carriers focused on Britain particularly exposed, industry executives warned on Monday.

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

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.

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.

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.

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.