Global economy

Gazprom, the Russian gas company, plans to sell off its stakes across North Sea assets. It faces compensation claims of multi-billion dollar value from European gas companies due to its drastic reduction of pipeline gas supply in 2022.…

The Bank for International Settlements has stated that central banks around the world are forced to maintain high interest rates for many years as they fight wage demands, wars and trade disputes. The institution often known as central…

The global debt reached a new record of $313 trillion, or £248 trillion. This is due to higher interest rates that drive up borrowing costs. According to the Institute for International Finance (IIF), borrowers took on $15 trillion more…

Dominic Raab warned that unless Western governments are able to break China's stranglehold on critical minerals required for the green energy transformation, households will face higher bills. Former foreign secretary and deputy prime…

In its latest projections, the World Bank warns that global growth is set to be at its lowest level in 30 years as geopolitical tensions and higher borrowing costs weigh on output. In Forecasts, published by the multilateral organization…

Investors warn governments worldwide about "unmoored' levels of public debt. They say excessive borrowing promises made before elections could spark a bond market reaction. The US and UK are expected to issue the most government debt in…

UN warns that a prolonged period of low economic growth will hinder progress in sustainable development. It urges countries to increase investment to combat the climate crisis. The annual report on the state of global economics presents…

According to the Royal Mint, investors flocked in record numbers to gold in 2023 due to global economic turmoil that triggered a flight for safety. The number of people purchasing gold bars and coins has increased by 7pc in the last…

According to a European Central Bank study, geopolitical tensions have prompted more multinational companies signaling plans to move production to countries that are closer to their final market. The ECB discovered that almost four times…

Noel Quinn is the chief executive officer of HBSC - the seventh largest bank in the world. He says that "a global reckoning" could be on its way. After the 2008 financial crash, and then again during the Covid epidemic, government debts…

In the last 50 years, three of the four debt tidal wave that hit the world economy ended in crisis. Latin America suffered a lost decade during the 1980s. Asia experienced a severe downturn during the 1990s. The 2008 global financial…

Cooperation between developed nations fractures as prospect for wider crisis looms A deadly explosion at a Gaza hospital drove oil prices to their highest level since the outbreak of war between Israel and Hamas on Wednesday.…

Hamas's "horrifying attack" on Israel , according to the head of the US Federal Reserve, could derail the recovery of global economies. Jerome Powell, the chairman of the Federal Reserve Board, said that policymakers are "proceeding…

IMF chief Christine Lagarde said that the "remarkable" resilience of the global economic system this year had reduced the likelihood of a painful contraction in the quarters to come, but she also warned about weak growth for the next…