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Europe’s economy is facing the strain of energy rationing, record inflation, and tighter monetary policy. With a round of purchasing managers’ indexes slated to arrive this week, analysts expect to see a contraction in private-sector output for a second month, ...

Major US retailer Target reported a significant profit decline of 90% in the second quarter, as inflation-hit consumers pulled back on spending on all but the most essential items. Target's quarterly net income fell to $183 million, down significantly from ...

China's central bank cut interest rates this week for the first time since January, as the economy lost steam due to renewed COVID-19 lockdowns and a brewing property crisis.The People's Bank of China reduced the main rate at which it ...

After receiving approval from the US Congress, American President Joe Biden is preparing to sign a bill allocating $369 billion for climate and energy funding into law.Investors have not been slow to climb the bandwagon and have already sunk $425.5 ...

US companies added more than double the number of jobs forecast for July, revealing strong labor demand that tempered recession fears and suggested the Federal Reserve will continue to use steep interest rate hikes to combat out-of-control  inflation.Non-farm payrolls leapt ...

Argentina’s new Economy Minister Sergio Massa has pledged to stop printing money that helps fuel runaway inflation. With the country facing a deepening economic crisis, Massa became the third economic minister in a month.  He inherits the enormous challenge of ...

Just a few months after laying off 9% of its staff members, once high-flying crypto firm Robinhood on Tuesday announced plans to cut another 23%. The latest cuts, which will affect almost 800 employees, continues the fall from grace of ...

Asian stock markets have been shaken by growing tensions between the US and China over US House of Representatives Speaker Nancy Pelosi’s anticipated visit to Taiwan. Markets across the region weakened on Tuesday amid expectations Pelosi would visit the democratically ...

Spanish consumer prices have shot up at the fastest pace since September 1984, as inflation in the EU continues to break new records. Inflation in Spain reached 10.8% year-on-year for July, a jump from its level of 10.2% in June. ...

According to the Bureau of Economic Analysis, the US economy shrank for a second quarter in a row. GDP fell by 0.9% on an annualized basis from April through June.  By definition, two consecutive quarters of negative economic growth constitute ...

A few months ago, a massive 75-basis-point rate hike by the US Federal Reserve was unthinkable. It has now happened twice in a row. This week, members of the US Fed unanimously agreed on an additional interest rate hike of ...

The euro was still jittery in this week’s trading after its steepest plunge in two weeks, as a disruption in Russian gas supplies sent energy prices soaring. The euro fell about 1% to $1.0108 overnight, its biggest fall since early ...

The Indian rupee has fallen more than 7% in 2022, adding to inflationary pressure and destroying margins for importers in this otherwise import-dependent country.  The rupee stands on the threshold of 80 to a US dollar and may soon fall ...

China’s real estate market is in deep trouble, with property sales slumping by 25% this year alone. A confluence of factors, including China’s “Zero COVID Cases” policy, have seen property developers run out of capital to finish ongoing construction.  This ...

The European Central Bank (ECB) on Thursday announced it would hike its key interest rate by a half percentage point. This is the first time since 2011 that the ECB has raised rates, taking Europe's key rate back to zero. ...