Theft rises in UK as inflation bites
In the UK, the chancellor has just announced a series of stringent economic measures including tax hikes as forecasters predict the biggest drop in British living standards since records began. As inflation soars, an increasing number of...
UK announces austerity budget, admits recession
UK finance minister Jeremy Hunt has officially declared that his nation is in a recession. He expects the economy to shrink even further in the next fiscal year. The incumbent chancellor has laid out his plans for tackling rising inflati...
Businesses go bust as Brussels debates gas price-cap
European energy ministers are debating an EU gas-price cap to help consumers. But for some businesses, such as bakeries, the action on bills is too little too late.
UK unveils austerity budget despite recession
Britain on Thursday unveiled an austerity budget with £55 billion ($65 billion) of tax hikes and spending cuts despite confirming its economy was in recession. Finance minister Jeremy Hunt confirmed the painful measures were needed to br...
Inflation shows signs of easing in the U.S.
Wholesale prices fell for the fourth month in a row, a sign that inflation is easing for Americans.
UK PM eyes massive spending cuts
The UK government is preparing to announce sweeping spending cuts and tax rises on Thursday to pay for a massive hole in the country’s finances. Education is in the firing line for cuts. But schools are already struggling with the rising...
Amazon workers brace for mass job cuts
The e-commerce giant had already frozen hiring after taking on too many staff during the COVID pandemic. Around 1 per cent of its workforce will be affected.
Eurozone to enter winter recession
Europe's economy has continued to cool with GDP in both the eurozone and the wider EU expanding only marginally in the third quarter.
Amazon plans to sack 10,000 workers
Amazon.com Inc. plans to cut about 10,000 jobs, the largest ever headcount reduction at the e-commerce giant as it braces for slower growth and a possible recession. The layoffs are said to target the devices group, retail divisions and ...
Eurozone set for a recession this year
High prices are here to stay, with the European Union predicting inflation will remain high throughout 2023.
Consumer Price Index beats expectations
Thursdays CPI report shows inflation fell to a better-than-expected 7.7% in October. But the White House is cautious to celebrate too much.
NAB CEO sees "more pain" for households
National Australia Bank Chief Executive Officer Ross McEwan is expecting further interest rate increases next year as consumers face price rises on "everything they touch." McEwan says while there's currently no impact on loan arrears fr...
'I got it wrong': Meta's mass layoffs
Mark Zuckerberg says Meta will let go of 13 percent of its workforce - or more than 11,000 employees - in one of the biggest technology layoffs this year as the Facebook parent battles soaring costs and a weak advertising market. “Today ...
World Bank President on the development crisis
The World Bank is warning about the food shortages and inflation hitting the poorest, as Covid-19 spending and the energy crisis has created a crisis for the development world. At COP27 in Sharm El-Sheikh, the World Bank announced a clim...
UK Chancellor Sees Inheritance Tax Helping Fiscal Hole
Chancellor of the Exchequer Jeremy Hunt is looking at freezing the threshold at which inheritance tax starts to be paid to raise money to help fill a £35 billion ($40 billion) fiscal black hole when he announces the UK government's spend...
Global economy sees rapid downturn
From inflation to recession, an energy crisis and war, the world economy is showing signs of a rapid downshift. Haidi Stroud-Watts and Kathleen Hays from New York speaks to Bloomberg's Chief Asia Economics Correspondent, Enda Curran and ...
What's the most bullish midterm outcome for stocks?
During this week's MLIV Pulse survey, Bloomberg TV guests respond to the question: What's the most bullish midterm outcome for stocks?
Goldman Lowers S&P 500 Earnings Estimates Until 2024
Goldman Sachs Group Inc. says margins contraction in the third-quarter signals more pain ahead as it cut earnings estimates for the S&P 500 Index for each year until 2024.
Canada adds 108,000 jobs in October, unemployment steady
Canada's economy added 108,000 jobs in October, roughly 10 times what was expected. Still, an unexpectedly hot job market isn't enough to bring down the overall cost of living.
Anti-austerity demonstrations across London
Thousands of people have marched in central London to oppose what they say are austerity measures. United Kingdom Prime Minister Rishi Sunak is looking to fill a fiscal hole in public finances by cutting spending and raising taxes.
Turkey: Extreme inflation hits record highs
Turkish President Recep Tayyip Erdogan believes that high-interest rates encourage inflation and lead to higher prices.
NDP's Singh addresses cost of living concerns for Canadians
NDP Leader Jagmeet Singh said 'the Liberal government is not responding to the needs of people,' ahead of the release of the Fall Economic Statement on Thursday.
Bank of England Raises Key Rate by 75 Basis Points to 3.0%
The Bank of England raised its official rate by 75 basis-points to 3.0% on Thursday, a move backed by seven of the nine-member Monetary Policy Committee.
Sri Lankans rally against government crackdown on protests
Thousands of Sri Lankans have protested against the government's use of terror laws against demonstrators and a crippling economic crisis. Police, politicians and business leaders warned against the demonstration - but organisers went a...
U.S interest rates hit highest level in 15 years
"We are moving our policy stance purposefully to a level that will be sufficiently restrictive to return inflation to 2%", said Federal Reserve chariman Jerome Powell.
U.S Federal Reserve hikes rates by 75 basis points
Federal Reserve Chairman Jerome Powell speaks about the decision by the Fed's policy-setting Federal Open Market Committee to raise its benchmark interest rate by three-quarters of a percentage point
Greece: Plan to cut prices of essential goods
Shoppers in Greece say they're not convinced over a government scheme to cut prices of essential goods. "I do not believe this measure will be any help. It is just a trick to fool the consumers”, said one customer.
'Money isn't free anymore': Inflation hits Wall Street
David Westin looks at how higher interest rates are impacting the merger and acquisition space in the US on "Wall Street Week."
Interest rates hit nine-year high
The Reserve Bank has lifted interest rates by another quarter of a percentage point, the seventh rate rise in seven months. It is a move which had been widely expected though some economists thought it could have been twice that. It take...