US and European stocks are mostly superior Wednesday notwithstanding statistics that showed the USA inflation bogged down less than investors were looking forward to. Soaring inflation and the trekking of interest quotes with the aid of vital banks in reaction have been one of the reasons why stocks have taken a beating so far this … Read more
The Dow fell for the fourth consecutive session Tuesday ahead of a key US inflation report, but battered tech shares rallied amid speculation that the market has become oversold. A volatile day ended with two of the three major indices in positive territory, marking a partial recovery from Monday’s rout and a generally bleak start … Read more
As the pandemic eases across Europe, an EU-wide mask requirement for flights and airports will be withdrawn starting next week, according to the bloc’s aviation safety body. According to the European Union Aviation Safety Agency (EASA), airlines will still be able to require passengers and personnel to cover their faces and noses under the new … Read more
In the United Kingdom, inflation is projected to be persistent, real income will fall, and household budgets will be stretched, according to a top British think tank on Wednesday. According to the National Institute of Economic and Social Research, an estimated 1.5 million households throughout the country may confront food and energy expenses that exceed … Read more
Danish inflation reached a near four-decade high in April, as energy and food prices skyrocketed, according to official figures released Tuesday. According to Statistics Denmark, the consumer price index (CPI) in Denmark increased 6.7 percent year on year in April, the highest rate since June 1984. Prices of goods have meanwhile risen by 10.3 percent … Read more
As inflation continues to wreak havoc on household budgets, US travellers planning summer road excursions are likely to face new record high gas prices this week. According to AAA data, the national average price of a gallon of gas was $4.328 as of Monday afternoon. That price was up roughly 20 cents from a month … Read more
China’s Covid lockdowns contributed to persisting anxieties about the impact of rising US interest rates and growing inflation on world financial markets and oil prices on Monday. Frankfurt, London and Paris all fell more than two percent, as did Tokyo. On Wall Street, the Dow was down nearly two percent in late morning trading, with … Read more
As the EU faces skyrocketing inflation fueled by Russia’s invasion of Ukraine, Finland’s central bank president Olli Rehn indicated Monday that the ECB would have to hike its key interest rate as soon as July. The ECB has kept interest rates at zero in recent years to support a struggling European economy. However, as consumer … Read more
On Monday, the Indian rupee hit an all-time low against the US dollar, as US monetary policy tightened roiled markets and foreign investors continued to flee Indian stocks. The rupee has been battered by rising oil prices and a strengthening US currency, with the Reserve Bank of India’s (RBI) unexpected rate hike last week doing … Read more
As consumer prices in the eurozone rise, European Central Bank president Christine Lagarde rejected union requests to tie wages to inflation at the Frankfurt-based organization. In an internal communication to staff seen by AFP on May 5, Lagarde stated that indexing employee compensation to inflation was “not desired and not planned.” In the message, Lagarde … Read more
Investors are getting ready for any other busy week for company earnings and may be watching a slew of monetary records, such as the state-of-the-art on purchaser costs. The Federal Reserve has hiked hobby prices via half of a percentage factor for the first time in a long time if you want to start taming … Read more
The Federal Reserve’s favorite inflation-associated adjective was once transitory, as in: Inflation is transitory and rate increases should be temporary. That is no longer the case. Inflation fees were growing sharply considering August 2021 and were out of the everyday 2%-to-4% range for a full year. The Consumer Price Index rose eight.Five% for the yr … Read more
According to figures released on Thursday, Turkey’s annual inflation rose to 69.97 percent in April, above expectations and reaching a two-decade high, fueled by the Russia-Ukraine conflict and soaring energy and commodity costs following last year’s currency crash. A 500 basis point interest rate easing cycle, which began last September under President Tayyip Erdogan’s pressure … Read more
REYKJAVIK: The central bank of Iceland hiked its main interest rate substantially on Wednesday in an attempt to contain inflation as the Ukraine war affected the economic outlook. Interest rates are being raised by central banks throughout the world in an effort to control consumer costs, which began to climb as economies recovered from the Covid … Read more
COLOMBO: Sri Lanka aims to revise its current “unrealistic” budget and is in negotiations with the World Bank to increase its assistance from $300 million to $700 million, according to the country’s finance minister on Wednesday. The island country is dangerously short of foreign exchange, having been struck hard by COVID-19 and short of income … Read more
PARIS: Preliminary statistics released on Friday revealed that French inflation hit a new high in April, spurred by rising energy prices, putting pressure on newly re-elected President Emmanuel Macron to implement anti-inflation measures promised during his campaign. Consumer prices grew 0.5 percent in April, for an annual rate of 5.4 percent, the highest since France … Read more
BERLIN: According to a crucial study released Wednesday, consumer sentiment in Germany has reached an all-time low as Russia’s invasion of Ukraine erodes trust in Europe’s largest economy. GfK’s forward-looking barometer plummeted to minus 26.5 points in May, down from negative 15.7 points in April. According to GfK, the decline indicates a “new historic low.” … Read more
Inflation can be a cruel, cold wind. It bites hardest those at the bottom of the economic ladder, or on a fixed income — especially when political leaders cut benefits. The wealthiest never knew what they were paying for groceries, still don’t know nor care. All the rest of us need to know about inflation … Read more
On Monday, Andy Puzder, the former CEO of CKE Restaurants, warned that inflation will “severely” impact Democrats in November. In reaction to Sen. Elizabeth Warren, D-Massachusetts, warning that “Mornings with Maria” in the midterm elections if they don’t assist bring down prices for families, Andy Puzder said on “Democrats are going to lose” on Monday. … Read more
The inflation fear that has dominated most of the financial landscape this year continues to startle markets in fresh ways. On Monday, investors became alarmed by the prospect of China shutting down Beijing, a city of more than 20 million people, adding to concerns about supply constraints that are keeping prices high. Following a drop … Read more
Hundreds of GlaxoSmithKline employees in the United Kingdom are ready to strike over a “derisory” salary offer that is much below the rate of inflation, according to a union. GSK has been accused of “colossal corporate greed” by Unite national secretary Sharon Graham over an effective salary decrease in real terms at a time … Read more
Sen. Ron Johnson, R-Wis., says President Joe Biden’s worst policies are to blame for record-high inflation and the open border catastrophe. “Just like the open border, that “just” didn’t happen. That was caused by bad policy. That’s exactly what the Democrats wanted,” Johnson told Newsmax “Eric Bolling: The Balance” on Monday. “Same thing with inflation. … Read more
KARACHI: The price of gold in Pakistan gained Rs1,500/tola to reach the all-time high of Rs134,300/tola on Thursday amid the continuous depreciation in the rupee against the dollar. The local currency remained under pressure as the SBP’s foreign exchange reserves largely depleted due to debt repayments and government payments. The political instability in the country, … Read more
Analysts at KASB Research on Monday said that the inflation figure was initially estimated to be significantly higher than our current projections; however, the economic relief package reducing domestic fuel and electricity prices limited upside risks to inflation during the month. The projected 0.7 per cent MoM uptick in the Consumer Price Index (CPI) is … Read more
MULTAN: The Jamaat e Islami (JI) on Thursday announced a series of protests against the government’s incompetency, inflation and in favour of establishment of south Punjab province. The JI spokesperson said his party would hold protests at 10 locations of Multan. The central sit-in demonstration will be held on March 18 at Chowngi No 9, … Read more
KARACHI: The Pakistan bourse increased 1.3 per cent during the week ended March 4, 2022, which can largely be attributed to the contribution from the E&P, which gained on account of run up in the crude oil prices, amid the ongoing Russia and Ukraine conflict that has resulted in higher international commodity prices. The Pakistan … Read more
KARACHI: The global economic outlook turned gloomy soon after Russian forces marched into Ukraine. The financial sanctions have rocked Russia’s economy and threaten to fuel further worldwide inflation. The prices of natural gas, oil, and other staples have jumped in the international markets. At the same time, it has rattled global supply chains that are … Read more
PARIS: The European Central Bank is ready to support price and financial stability in the eurozone if needed during the Russia-Ukraine crisis, its chief Christine Lagarde said Friday. “The ECB stands ready to take whatever action is necessary within its responsibilities to ensure price stability and financial stability in the euro area,” Lagarde told reporters … Read more
