Ifo's positive outlook came a day after a closely watched survey showed German investor confidence rising again in December.

The consumer price index, a key gauge of inflation, logged its smallest annual increase in nearly a year, fueling optimism that the Fed could soon moderate its efforts. Households have been squeezed by red-hot prices, with conditions worsened by surging food and energy costs after Russia's invasion of Ukraine, and...

Gross domestic product fell 0.6 percent in September after businesses closed for the royal funeral, and Britain's economy shrank by 0.2 percent in the third quarter, according to the Office for National Statistics (ONS).

US media have previously reported that the platform and its various branches will lay off about 10,000 employees. Amazon did not confirm the figure, but he said that the process had begun and would continue early next year. The first teams affected were those dealing with the brand's electronic devices...

Britain unveiled a painful budget with $65 billion of tax hikes and spending cuts despite confirming its economy was in recession. A day after official data showed UK inflation rocketing to a 41-year high above 11 percent, Finance Minister Jeremy Hunt triggered an era of austerity following the calamitous tenure...

Global stock markets rose as traders looked to the US Federal Reserve's interest rate decision hoping it will signal a more dovish approach to fighting inflation. The Fed is widely expected Wednesday to announce a fourth straight 75-basis-point rate hike leading to worries it will tip the world's top economy...

The war raging in Ukraine and other overlapping crises are taking a toll on labor markets worldwide, the UN said, suggesting a "sharp" slowdown was already underway. In a fresh report, the International Labor Organization said the outlook for global labor markets has deteriorated in recent months. ILO warned that...

Volatile markets were mostly trading up after the ECB announced an expected hike to interest rates in the face of sky-high inflation and the US economy posted positive figures. The European Central Bank rolled out another increase of 75 basis points, despite growing concern the eurozone is hurtling towards a...

The US economy rebounded in the third quarter, expanding for the first time this year in welcome news for President Joe Biden days ahead of midterm elections, government data showed. Economic issues have become a flashpoint in the United States, with decades-high inflation weighing on growth and squeezing households.

Economic activity in the eurozone plummeted further in October and Germany, the EU's top economy, looks headed for a recession, a closely watched survey showed Monday.

The British pound sank against the dollar on political uncertainty after the resignation of UK Prime Minister Liz Truss, while weak economic data added to the turmoil. The dollar strengthened also on expectations that the US Federal Reserve would press ahead with its program of bumper interest rate hikes to...

The crisis-hit PM, elected Conservative leader just six weeks ago on a tax-slashing platform, announced her resignation Thursday. Her budget, peppered with tax cuts and delivered last month, sought to boost growth in Britain's recession-threatened economy and freeze energy prices to ease a cost of living crisis. However, the costly...

American Airlines third quarter revenues rose to $13.5 billion.

The bank's revenues declined 12 percent to $12 billion.

Jeremy Hunt was put in place on Friday after Prime Minister Liz Truss sacked Kwasi Kwarteng as she battles to save her political career just weeks after taking the keys to Downing Street. Hunt is tipped to tear up the previous plans and warned at the weekend of tax hikes...

The agreement in principle, reached between IMF staff and Tunisian authorities meeting this week in Washington, still requires the approval of the Fund's board, which is scheduled to discuss the matter in December.

Most of the respondents in the poll feel that GCC will weather the gathering economic storm and come out unscathed, a view corroborated by the IMF and the World Bank.

Stock markets and oil prices slumped as investors grow fearful that more big interest rate hikes will tip economies into deep recessions. The mood darkened also on the worsening Ukraine war and weaker demand expectations in China. Analysts said US consumer price index data released later this week will be...

A brief rally across trading floors last week gave way to gloom as investors grow increasingly worried that central bank efforts to tame runaway prices will plunge the global economy into recession. Adding to the stress is the upcoming corporate earnings season, which many fear will show that companies are...

IMF chief Kristalina Georgieva urged global policymakers to take concerted action as the risks of a worldwide recession are driven ever higher by repeated economic shocks. In a speech ahead of the fund's annual meetings next week, the IMF's managing director said it was critical to address challenges including inflation.

Air travel rose sharply in the northern hemisphere summer, traditionally the peak vacation travel season, but still remains considerably affected by the pandemic, industry data showed Thursday.

The 13-nation OPEC cartel headed by Riyadh and its 10 allies led by Moscow agreed to reduce output by two million barrels per day from November at a meeting in Vienna, the group said in a statement. It is the biggest cut since the height of the Covid pandemic in...

The jump comes after both main contracts suffered hefty losses in recent months on demand fears caused by an expected recession in major economies.

The average price of a barrel of Brent crude oil is expected to be $101 in 2022 and $84 in 2023. However, Brent oil prices may fall to $75/b by 2025 and $70/b by 2027, says a report.

WTO Director-General Ngozi Okonjo-Iweala said Russia's war in Ukraine, the climate crisis, food price and energy shocks plus the aftermath of the Covid-19 pandemic were creating the conditions for a world recession.

Continuing with its slide against the dollar, the pound hit a record low on fears about the UK economy after the government presented a huge tax-cutting budget. Countries around the world are battling high inflation and seeking to curb it with interest rate hikes. But analysts fear such moves can...

Falling for the fourth straight session, Wall Street stocks finished lower on Friday as markets bet on the rising risk of a recession due to interest rate hikes. All three major indices tanked more than 1.5 percent, adding to the week's losses after Wednesday's big Fed rate increase spurred similar...

Stock markets tumbled, the pound crashed against the dollar and oil prices slumped on growing recession fears after central banks this week hiked interest rates to fight inflation. Monetary policymakers have been forced to go on the offensive, warning that short-term hits to economies are less painful than the long-term...

Truss became the latest Western leader at the UN General Assembly in New York to rail against Russian President Vladimir Putin, who hours earlier mobilized reservists in a clear sign he is in no rush to end the conflict. Putin's move only highlights the "catastrophic failure" of Russia's invasion of...

BERLIN, GERMANY - German investor confidence fell in September for a third straight month, a closely watched survey showed on Tuesday, fueling fears of a looming recession in Europe's biggest economy. The ZEW institute's economic expectations index dropped 6.6 points from the previous month to minus 61.9 points, as soaring...

Time off work for millions of Britons next Monday means the economy will have had two more public holidays than usual in 2022.

An American recession "is a risk when the Fed is tightening monetary policy to address inflation," President Joe Biden's leader on financial, economic and tax policy told CNN, referring to the US Federal Reserve. "So it's certainly a risk that we're monitoring," Yellen added, but "we've got a good strong...

Struggling to tame surging inflation in the eurozone that has seen steep increases in the price of energy in the wake of the Russian invasion of Ukraine, European Central Bank policymakers are expected to make a historically large interest rate hike at their meeting on Thursday.

The 47-year-old won an internal ballot of Tory members on Monday, securing 57 percent of the vote, after a grueling contest against former finance minister Rishi Sunak that began in July.

European and US stocks rose Tuesday, but gains were capped by economic slowdown fears and central bank efforts to contain surging inflation. Frankfurt, London and Paris equities carved out gains despite poor German data, a day after tumultuous trading as Russia curbed gas supplies to Europe.

The move could irk the United States as it has pressed the group to increase output in order to bring down energy prices that have fuelled decades-high inflation. OPEC+ had agreed to huge cuts in output in 2020 when the Covid pandemic sent oil prices crashing, but it began to...

According to consensus, the unemployment rate for August should fall somewhere around 3.5 percent when official data is released at 1230 GMT. If the estimate turns out to be true, it would be the same rate as July when unemployment first returned to its pre-pandemic levels, which had been the...

Germany's economy grew slightly in the second quarter, an upgrade from a previous estimate of stagnation, revised official data showed Thursday, pushing back the specter of recession. Output expanded by 0.1 percent in the April to June period, according to the federal statistics agency, which had previously projected zero growth....

The Unite union representing the striking Felixstowe staff said the stoppage will have a big impact at the port, which handles around four million containers a year from 2,000 ships.

Investors remain on edge as central banks hike interest rates to fight runaway inflation, but the monetary policy tightening could threaten to tip economies into recession.

A US central bank official still sees hope for the US and EU to avoid recession and achieve a soft landing by bringing inflation down to an acceptable level.

As people are freed from pandemic lifestyles that had them relying on the internet for shopping, playing, working and learning, inflation is pushing up prices and Covid-19 is causing temporary shutdowns of factories in China relied on by tech firms.

Tokyo stocks opened higher on Wednesday as investors took heart from US rallies and other positive factors while awaiting a Bank of Japan policy decision later this week. A majority of analysts expect the Japanese central bank to keep its current easing policy but "speculation is lingering over a possible...

The Indian rupee fell to more than 80 per US dollar for the first time on record Tuesday, as the greenback extended its rally and foreign capital outflows intensified.

Most stocks fell Tuesday after a Wall Street sell-off fueled by fresh recession worries following a report that Apple planned to ease back on spending due to uncertainty over the economic outlook. While some are predicting inflation may have reached its peak, oil prices continues to hold its strength, despite...

Stocks rose Monday following a rally on Wall Street in response to data indicating US consumers remained resilient to surging inflation and higher interest rates, easing concerns about a possible recession. Market analysts widely expect the central bank to announce a 75 basis-point lift.

Wall Street stocks rose early Friday as markets cheered unexpectedly strong US retail sales and better-than-expected results from Citigroup. After a pair of grim readings on US consumer price and wholesale inflation the last two days that pressured stocks, markets were pleased by data showing US retail sales jumped one...

The euro struck parity with the dollar for the first time in nearly 20 years on Tuesday as a cut in Russian gas supplies to Europe heightened fears of a recession in the eurozone.

Brent oil futures closed Tuesday under $100 a barrel for the first time in three months as recession worries cloud the near-term outlook for crude demand. The contract for the international oil benchmark for September delivery tumbled 7.1 percent to $99.49 a barrel as the market focused on worries about...

Tokyo stocks opened higher on Wednesday ahead of a key US inflation report and with worries growing over rising Covid-19 cases in Japan and abroad. The benchmark Nikkei 225 index was up 0.53 percent in early trade, while the broader Topix index edged up 0.43 percent.