WASHINGTON (AP) — President Joe Biden said Tuesday he hopes lawmakers can work together to fund the government, boost spending for Ukraine and avert a crippling rail strike as he hosted congressional leaders at the White House.
BERLIN (AP) — It is time for China to move away from massive lockdowns and toward a more targeted approach to COVID-19, the head of the International Monetary Fund said days after widespread protests broke out, a change that would ease the impact to a world economy already struggling with high inflation, an energy crisis and disrupted food supply.
CAIRO (AP) — Saudi Arabia agreed Tuesday to extend the terms of a $5 billion aid package to Egypt that took effect in March, Saudi state media said. The move was aimed at bolstering the North African country’s recent deal with the International Monetary Fund.
U.S. consumer confidence fell for the second straight month in November amid ongoing high inflation, rising interest rates, and layoffs in the tech sector.
BERLIN (AP) — German inflation slipped back slightly to 10% in November, official figures showed Tuesday, but galloping prices remain a major headache for Europe's biggest economy.
The annual inflation rate was off its peak of 10.4%, reached in October, as the increase in energy prices over a year ago slowed to 38.4% from 43% a month earlier, the Federal Statistical Office said.
SEOUL, South Korea (AP) — South Korea’s government issued an order Tuesday for some of the thousands of truck drivers who have been on strike to return to work, insisting that their nationwide walkout over freight fare issues is hurting an already weak economy.
OMAHA, Neb. (AP) — President Joe Biden on Monday asked Congress to intervene and block a railroad strike before next month’s deadline in the stalled contract talks, and House Speaker Nancy Pelosi said lawmakers would take up legislation this week to impose the deal that unions agreed to in September.
Stocks fell broadly on Wall Street as protests spread in China calling for President Xi Jinping to step down amid growing anger over severe restrictions imposed as part of his “zero COVID” strategy in the world’s second-largest economy.
WASHINGTON (AP) — Two Federal Reserve officials said Monday that they favor raising the Fed's key rate to roughly 5% or more and keeping it at its peak through next year — longer than many on Wall Street have expected.
BRUSSELS (AP) — The head of the European Central Bank said Monday she does not believe inflation has peaked after reaching the highest levels on record.
ECB President Christine Lagarde also told European lawmakers that the bank isn't through raising interest rates to combat those price spikes.
A look at some of the key business events and economic indicators upcoming this week:
The Conference Board delivers its latest index of U.S. consumer confidence Tuesday.
SAN FRANCISCO (AP) — While other technology companies lay off workers and try to cut other costs amid a post-pandemic comedown, Shutterfly CEO Hilary Schneider is gearing up for a busy holiday season.
TOKYO (AP) — The number of babies born in Japan this year is below last year’s record low in what the the top government spokesman described as a “critical situation.”
Chief Cabinet Secretary Hirokazu Matsuno promised comprehensive measures to encourage more marriages and births.
CAIRO (AP) — Yemen’s internationally recognized government signed a deal with the Arab Monetary Fund on Sunday, state media said, paving the way for the Saudi-backed administration to receive $1 billion of economic aid.
VERONA, Italy (AP) — Early season merrymakers sipping mulled wine and shopping for holiday decorations packed the Verona Christmas market for its inaugural weekend. But beyond the wooden market stalls, the Italian city still has not decked out its granite-clad pedestrian streets with twinkling holiday lights as officials debate how bright to make the season during an energy crisis.
BEIJING (AP) — Macao has tentatively renewed the casino licenses of MGM Resorts, Las Vegas Sands, Wynn Resorts and three Chinese rivals after they promised to help diversify its economy by investing in non-gambling attractions, the government said Saturday.
NEW YORK (AP) — Cautious shoppers hunted for the best deals at stores and online as retailers offered new Black Friday discounts to entice consumers eager to start buying holiday gifts but weighed down by inflation.
BRUSSELS (AP) — The European Union and the United States are treading precariously close to a major trans-Atlantic trade dispute at a time when the two Western giants want to show unity in the face of challenges from Russia and China.
BERLIN (AP) — Germany's economy saw stronger growth in the third quarter than expected as consumer spending picked up following the lifting of pandemic restrictions.
Officials figures released Friday show gross domestic product in Europe's biggest economy grew by 0.4% from July to September, 0.1 percentage points higher than previously forecast.
LONDON (AP) — Rishi Sunak has been Britain’s prime minister for a month.
KUALA LUMPUR, Malaysia (AP) — Long-time reformist leader Anwar Ibrahim was sworn in as Malaysia's prime minister Thursday and vowed to heal a racially divided nation, fight corruption and revive an economy struggling with the rising cost of living.
BERLIN (AP) — Europe should be able to cope with the natural gas supply crunch in the coming months thanks to considerable reserves although the continent could face a bigger energy crisis next winter, the head of the International Energy Agency said Thursday.
NEW YORK (AP) — While Black Friday will mark a return to familiar holiday shopping patterns, uncertainty still remains.
The U.S. job market remains strong, consumer spending is resilient and inflation has been slowing.
ANKARA, Turkey (AP) — Turkey’s central bank delivered another outsized interest rate cut Thursday despite inflation running at more than 85% and other countries moving the opposite way to ease the pain of soaring prices.
STOCKHOLM (AP) — Sweden’s central bank followed other central banks in undertaking a big increase to its key interest rate to combat inflation, saying Thursday that high prices are undermining people's purchasing power and making it tough for households and companies to plan their finances.
Inflation isn’t going to hurt the bankrolls of sports team owners.
In fact, it may help.
While the uber-rich will have to pay a little more for their eggs at the grocery store – just like everyone else – inflation isn’t likely to affect the bottom lines at their sports properties.
ABUJA, Nigeria (AP) — Nigeria on Wednesday launched newly designed currency notes, a move that the West African nation's central bank says will help curb inflation and money laundering.
WELLINGTON, New Zealand (AP) — New Zealand's central bank hiked interest rates Wednesday by a record amount as it tries to get inflation under control.
The Reserve Bank of New Zealand increased its benchmark rate by three-quarters of a point to 4.25%.
WASHINGTON (AP) — The Treasury Department released new details Tuesday of its long-awaited plan to impose a price cap on Russian oil, but the U.S. and its allies are still finalizing how much they'll pay for petroleum exports that have helped fund the war in Ukraine.
Hobbled by high interest rates, punishing inflation and Russia’s war against Ukraine, the world economy is expected to eke out only modest growth this year and to expand even more tepidly in 2023.
OMAHA, Neb. (AP) — American consumers and nearly every industry will be affected if freight trains grind to a halt next month.
BERLIN (AP) — Germany's governing parties and the main opposition bloc reached a compromise Tuesday that should allow an overhaul of the country's unemployment benefit system — a central policy of Chancellor Olaf Scholz's government — to go ahead in somewhat watered-down form.
BERLIN (AP) — Consumers and businesses in Germany will receive subsidies to soften the blow of higher natural gas and electricity prices starting in January, two months earlier than originally planned, officials said Tuesday.
TOKYO (AP) — A Japanese government-commissioned panel said in a report to Prime Minister Fumio Kishida that drastic defense buildup including the use of preemptive strike is “indispensable” to counter growing threats in the region.
BEIJING (AP) — Asian stock markets were mixed Tuesday after Wall Street sank and Chinese anti-virus controls fueled concern about an economic slowdown.
Shanghai and Hong Kong declined while Tokyo advanced.
OMAHA, Neb. (AP) — Consumers could see higher gas prices and shortages of some of their favorite groceries during the winter holiday season if railroads and all of their unions can't agree on new contracts by an early-December deadline that had already been pushed back.
ATHENS, Greece (AP) — Greece’s economy is projected to grow by 1.8% next year, according to the country’s 2023 budget, slightly lower than the figures predicted last month as higher energy costs and inflation take a toll.
NEW YORK (AP) — Credit Karma is probably best known for giving Americans regular access to their credit scores, but the San Francisco-based company also acts as a starting place to shop for a loan, bank account or mortgage.
KABUL, Afghanistan (AP) — More Afghans will be struggling for survival as living conditions deteriorate in the year ahead, a top official of the International Committee of the Red Cross said in an interview, as the country braces for its second winter under Taliban rule.
BANGKOK (AP) — Leaders from around the Asia-Pacific called for an end to Russia’s war on Ukraine and pledged to steer the region’s economies toward sustainable growth as they wrapped up summit meetings Saturday.
SACRAMENTO, Calif. (AP) — California said Friday it had recovered all of the 2.7 million jobs it lost at the start of the pandemic, a moment that normally would celebrate the end of a downturn but instead was tempered by signs of a wobbly economy amid layoffs in the state's historically strong tech industry.
WASHINGTON (AP) — President Joe Biden cautioned on Friday that “it's going to take time” for inflation to recede, but he offered fresh assurance that legislation he signed earlier this year will soon help limit costs for health care and energy.
ORTIGIA, Sicily (AP) — Thousands of workers at a Russian-owned oil refinery in Sicily protested Friday against the threat of closure as Europe imposes a full embargo on Russian oil starting next month.
LONDON (AP) — Britain’s Conservative government on Friday defended its decision to hike taxes for millions of working people in the “squeezed middle” class as it tries to shore up an economy battered by double-digit inflation and the reckless tax-cutting of recently ousted Prime Minister Liz Truss.
KATHMANDU, Nepal (AP) — Nepal’s parliamentary elections being held Sunday are the fourth since the Himalayan nation abolished a centuries-old monarchy and became a republic. Nepalis have seen little change since, with the same generation of leaders holding power through their control of the main political parties.
BEIJING (AP) — Asian stocks were mixed Friday after Wall Street declined following indications the Federal Reserve might raise interest rates higher than expected to cool inflation.
Shanghai declined while Tokyo and Hong Kong advanced.
BANGKOK (AP) — U.S. Vice President Kamala Harris arrived Thursday in Thailand, where she plans to affirm America's commitment to Southeast Asia and drive home the message that the region can count on the United States.
The Federal Reserve may have to raise its benchmark interest rate much higher than it has previously projected to get inflation under control, James Bullard, president of the Federal Reserve Bank of St.
Stocks fell on Wall Street and Treasury yields rose after more indications from the Federal Reserve that it may need to raise interest rates much higher than many people expect to get inflation under control.
LONDON (AP) — Millions of people across Britain face higher taxes and energy bills after the government on Thursday announced an emergency budget focused on restoring the country’s financial credibility and bolstering an economy battered by soaring inflation.