LONDON — European stocks advanced on Friday as global markets looked to regain some ground after a bruising week, with investors assessing the outlook for inflation and interest rates. The pan-European Stoxx 600 added 1% in early trade, with banks climbing 1.9% to lead gains as all sectors and major bourses entered positive territory. European […]
WASHINGTON (AP) — The Senate on Thursday confirmed Jerome Powell for a second four-year term as Federal Reserve chair, giving bipartisan backing to Powell’s high-stakes efforts to curb the highest inflation in four decades. The 80-19 vote reflected broad support in Congress for the Fed’s drive to combat surging prices through a series of sharp […]
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell, fresh off winning Senate confirmation for a second term earlier in the day, acknowledged for the first time Thursday that high inflation and economic weakness overseas could thwart his efforts to avoid causing a recession. For weeks, Powell has portrayed the Fed’s drive to raise interest rates […]
DUBAI, United Arab Emirates (AP) — Iran abruptly raised prices as much as 300% for a variety of staples such as cooking oil, chicken, eggs and milk on Thursday. Scores of alarmed Iranians waited in long lines to snatch up bundles of food and emptied supermarket shelves across the country in the hours before the […]
The UK economy shrank by 0.1% in March and the situation is expected to worsen as the country’s cost-of-living crisis escalates. Tim Ireland | Xinhua News Agency | Getty Images LONDON — A growth slowdown is underway in the UK after the economy shrank by 0.1% in March, with economists expecting further contractions this year. […]
LONDON — European stocks are expected to fall sharply at the open as global markets digest the latest inflation reading out of the United States. The reading has sparked concerns that a path of aggressive rate hiking lies ahead. The UK’s FTSE index is seen opening 88 points lower at 7,251, Germany’s DAX 216 points […]
LONDON — European stocks are expected to fall sharply at the open as global markets digest the latest inflation reading out of the United States. The reading has sparked concerns that a path of aggressive rate hiking lies ahead. The UK’s FTSE index is seen opening 88 points lower at 7,251, Germany’s DAX 216 points […]
WASHINGTON (AP) — Inflation eased slightly in April after months of relentless increases but remains near a four-decade high, imposing a continuing financial strain on American households. Consumer prices jumped 8.3% last month from a year ago, the government said Wednesday. That was below the 8.5% year-over-year surge in March, which was the highest since […]
Louis Alvarez | digitalvision | Getty Images Inflation is hovering near 40-year highs. The Consumer Price Index, a key inflation metric, increased 8.3% in April from a year ago, the largest jump since the summer of 1982, the US Department of Labor said Wednesday. While a slight reduction from the 8.5% rate in March, the […]
Inflation is showing no signs of slowing down, making it harder for workers to make ends meet. The Consumer Price Index increased 8.3% from a year ago, higher than the 8.1% estimate, according to the US Bureau of Statistics. Although it was down slightly from the March peak, inflation is still growing at the fastest […]