FRANKFURT, Germany (AP) — The European Central Bank made its largest interest rate hike on Thursday, following the US Federal Reserve and other central banks in a global rush of rapid rate hikes designed to stifle inflation that is squeezing consumers and push Europe into recession. The bank’s board of governors raised its main benchmarks … Read more
New UK PM Liz Truss announces cap on energy bills to tackle cost of living crisis British Prime Minister Liz Truss announcement a stimulus package to help Britons cope with soaring energy bills. Truss said the typical household ‘will pay no more than £2,500 ($2,880) a year for each of the next two years’, which … Read more
New UK PM Liz Truss announces cap on energy bills to tackle cost of living crisis British Prime Minister Liz Truss announcement a stimulus package to help Britons cope with soaring energy bills. Truss said the typical household ‘will pay no more than £2,500 ($2,880) a year for each of the next two years’, which … Read more
People enter a store along a busy Manhattan shopping street on December 10, 2021 in New York City. Spencer Platt | Getty Images Job growth in August likely slowed from July’s blistering pace, but is still expected to have been quite strong, with widespread hiring across many sectors. Monthly jobs data is always important, but … Read more
LONDON (AP) — Jennifer Jones guards inject money into his energy meter, but it never seems to be enough. And when she can’t pay, she immediately feels the impact. The power in his London home suddenly went out three times recently, once when his partner was cooking an egg. Like millions of people, Jones, 54, … Read more
The Federal Reserve keeps telling the market that it really wants to beat inflation, even if it means damage elsewhere. But the market is still struggling to take it seriously. It will therefore be up to Fed Chairman Jerome Powell next week to push the case forward. The central bank chief will address colleagues at … Read more
ANGELS — The decline in the housing market after its high-flying days at the start of this year is worsening, with July home sales falling for the sixth month in a row. Significantly higher mortgage rates, runaway inflation and prices that remain near historic highs are making homes less affordable. Sales fell 20.2% from July … Read more
Turkish President Tayyip Erdogan arrives for a NATO summit in Madrid, Spain, June 29, 2022. Sweet Nachos | Reuters Turkey’s central bank shocked markets on Thursday with a cut in its benchmark key rate, despite inflation in the country nearing 80%. The country’s currency, the readdecreased by 0.9% compared to the dollartrading at over 18.1 … Read more
Stocks open lower Stocks opened lower on Monday, led by energy and financial services stocks, which fell more than 3% and 1%, respectively. The Dow Jones Industrial Average slid 169 points, or 0.5%, while the S&p 500 and Nasdaq Composite fell 0.46% and 0.23%, respectively. — Samantha Subin New York-area manufacturing posts surprising drop in … Read more
DUBAI, United Arab Emirates (AP) — Saudi energy company Aramco said on Sunday that its profits jumped 90% in the second quarter compared to the same period last year, helping its half-year profits to reach nearly 88 billion. dollars. The increase is a boon for the kingdom and the crown prince’s purchasing power like people … Read more
