Economy

Yousef Gamal El-Din | CNBC Egypt’s pound hit a record low against the dollar on Wednesday after its central bank hiked interest rates by 600 points and devalued the currency. The steps were meant to facilitate an agreement with the International Monetary Fund, which is expected to confirm the extension of its current $3 billion

People work at a restaurant at Chelsea Market in Manhattan on February 02, 2024 in New York City.  Spencer Platt | Getty Images Private sector job growth improved during February though growth was slightly less than expected, payrolls processing firm ADP reported Wednesday. Companies added 140,000 positions for the month, an increase from the upwardly

British Finance Minister Jeremy Hunt said earlier this month the U.K. would not enter a recession this year. Hannah Mckay | Reuters LONDON — Economists expect U.K. Finance Minister Jeremy Hunt to use a small fiscal windfall to deliver a modest package of tax cuts at his Spring Budget on Wednesday. Heading into what will

The Maslak financial and business center in the Sariyer district of Istanbul. Ayhan Altun | Moment | Getty Images Turkish annual consumer price inflation soared to 67.07% in February, the Turkish Statistical Institute said Monday, coming in above expectations. Analysts polled by Reuters had anticipated annual inflation would climb to 65.7% last month. The combined

A salesman preparing a bag of sweets for a customer in the Sicilian confectionery shop Mazzone on February 02, 2024 in Catania, Italy.  Fabrizio Villa | Getty Images News | Getty Images Inflation in the 20-nation euro zone eased to 2.6% in February, flash figures showed on Friday, but both the headline and core figures

Inflation rose in line with expectations in January, according to an important gauge the Federal Reserve uses as it deliberates cutting interest rates. The personal consumption expenditures price index excluding food and energy costs increased 0.4% for the month and 2.8% from a year ago, as expected according to the Dow Jones consensus estimates. The

Ali and Jamila Wright, co-owners of Brooklyn Tea. Courtesy: Brooklyn Tea Looking at the state of Black employment in America tells a mixed story: Much progress has been made in the age of the Covid-19 pandemic and beyond, but much is left to be done. In the nearly four years that have passed since the

In this article GS Follow your favorite stocksCREATE FREE ACCOUNT An Emirati woman paddles a canoe past skyscrapers in Abu Dhabi, United Arab Emirates, on Wednesday, Oct. 2, 2019. Christopher Pike | Bloomberg | Getty Images DUBAI, United Arab Emirates — Goldman Sachs and Abu Dhabi sovereign wealth fund Mubadala on Monday signed a $1

In this article JPM Follow your favorite stocksCREATE FREE ACCOUNT JPMorgan Chase CEO Jamie Dimon thinks there’s a better-than-even chance that the U.S. is heading for a recession, though he doesn’t see systemic issues looming. Speaking Monday from the JPMorgan High Yield and Leveraged Finance Conference in Miami, the head of the largest U.S. bank

Christopher Waller, governor of the US Federal Reserve, during a Fed Listens event in Washington, D.C., on Friday, Sept. 23, 2022. Al Drago | Bloomberg | Getty Images Federal Reserve Governor Christopher Waller said Thursday he will need to see more evidence that inflation is cooling before he is willing to support interest rate cuts.

Taylor Swift performs onstage at Lumen Field in Seattle on July 22, 2023. Mat Hayward/tas23 | Getty Images Entertainment | Getty Images The devil’s in the details, but local economies have a friend in Taylor Swift. The American pop star has spent nearly a year crossing the U.S. and the globe with her high-flying Eras

A construction site with new apartments in newly built apartment buildings. Patrick Pleul | Picture Alliance | Getty Images Germany’s housebuilding sector has gone from bad to worse in recent months. Economic data is painting a concerning picture, and industry leaders appear uneasy. “The housebuilding sector is, I would say, a little bit in a

Turkish flag over a DenizBank building. Turkey is expected to head to the polls on Sunday. Ismail Ferdous | Bloomberg | Getty Images Turkey’s central bank held its key interest rate on Thursday, keeping it at 45% despite soaring inflation after eight consecutive months of hikes. The move was widely expected as the bank indicated

Robert Habeck, German Minister for Economy and Climate Protection and Vice Chancellor, is pictured during the weekly meeting of the cabinet on February 21, 2024 in Berlin, Germany. Florian Gaertner | Photothek | Getty Images Germany’s gross domestic product is now expected to grow by just 0.2% this year, as the country wades in “tricky

An Israeli national flag above produce for sale at Carmel Market in Tel Aviv, Israel, on Nov. 7, 2023. Bloomberg | Bloomberg | Getty Images Israel’s gross domestic product shrank nearly 20% in the fourth quarter of 2023, according to official figures. The contraction was significantly larger than expected, as analysts predicted a contraction of

Blurred buses pass the Bank of England in the City of London on 7th February 2024 in London, United Kingdom.  Mike Kemp | In Pictures | Getty Images The Bank of England is likely to hold interest rates higher for longer before slashing them more sharply than expected in the second half of the year,

A general view of a kiosk near Charing Cross station in London, England, on January 20, 2024. (Photo by Alberto Pezzali/NurPhoto via Getty Images) Nurphoto | Nurphoto | Getty Images LONDON — Stronger-than-expected January retail sales provided a glimmer of light for the struggling British economy on Friday — and suggest that the country’s recession

Wholesale prices rose more than expected in January, further complicating the inflation picture, according to a U.S. Department of Labor report Friday. The producer price index, a measure of prices received by producers of domestic goods and services, rose 0.3% for the month, the biggest move since August. Economists surveyed by Dow Jones had been