Economy

The OECD warned that a "wave of bankruptcy" could threaten the Eurozone's economy, as companies used by ultra-low interest rates are now being hit by higher interest rates. Businesses in Spain are particularly vulnerable to the high…

In the first comprehensive assessment on "invasive alien species", a biodiversity organization warned that plants and animals which have been forced to leave their natural habitats by human activity can have a devastating impact on global…

The Bank of England is under pressure to raise interest rates further as UK wages are increasing at the fastest rate in history and faster than most other major economies. The official figures show that the nominal pay of the regular…

According to economists, the global economy is expected to slow down next year due in part to persistently high interest rates in major economies. This follows a growth that exceeded expectations in 2023. Consensus Economics has compiled…

Chinese lenders extended billions of dollars in loans to Russian banks during the first year after Moscow invaded Ukraine. Four of China's largest banks have taken steps to promote the renminbi, an alternative currency to the US dollar.…

Unilever Nestle Pepsico have been accused by the government of Emmanuel Macron for refusing to pass on lower prices to families, as Paris struggles to control food inflation that is double digits. Bruno Le Maire, France’s Finance…

The UK data over the last month has presented a contradictory image. The second quarter saw a faster growth than anticipated, while consumer confidence has increased. Public borrowing was also lower than expected due to strong tax revenues.…

The Bank of England chief economist indicated that he would vote to maintain interest rates at the current high of 5,25 percent for a longer period of time rather than raise them. Huw Pil said to an audience of South Africa's Central…

The central bankers at the Jackson Hole Economic Symposium were not deluded about inflation. They said that the threat of inflation persists and that its outlook has been complicated due to structural shifts within the global economy. The…

German officials have agreed to a €7bn corporate tax relief package, in an effort to revive a stagnant economy and improve the image of three-party coalition that has been weakened by months' worth of bickering. The bill is being…

The Eurozone's money supply shrank for the first since 2010, as private sector lending stagnated and deposits declined. This financial squeeze, which economists say could lead to further economic downturns in the future, has sparked a…

The dollar hegemony is a curse on the global economy. It is not in the interest of any country, and least of all of the US. The frenetic monetary movements of the US Federal Reserve is transmitted around the world in disruptive…

The Canadian businessman that brought HMV from the brink to oblivion is now a possible last-minute buyer of collapsed chain Wilko. Doug Putman has begun talks with Wilko administrators at PwC to acquire around half of Wilko’s 400…

According to a recent survey, the UK's economic activity dropped unexpectedly for a first time since January as higher borrowing costs hit consumer demand. This prompted investors to reassess interest rate expectations and to buy gilts.…

Economists warn that a global recession is imminent as the rising interest rates and cost of living crisis are eating away at any remaining strength in the post-Covid recovery. The British economy has suffered its worst slump in over…

Inflation may be easing more quickly than first thought, the Office for National Statistics has found, providing a boost for Rishi Sunak, who has pledged to halve inflation by the end of the year. Calculations released on Monday by the…

China's leaders' pledge to tackle the "new challenges and difficulties" that plague the second largest economy in the world last month appeared to pave the way for more aggressive government measures to boost activity. The People's Bank…

Xi Jinping’s quest to rewrite a playbook that has driven China’s economic miracle over a decade is facing its toughest test yet. $18 trillion is slowing down. Consumers are depressed, exports are in trouble, prices are dropping, and one…