ECONOMY & MARKETS

Central banks are jacking up interest rates to tackle the highest inflation in decades, economic growth is slowing, recession looms, and financial markets are in a deep funk.

Ten years after his 'whatever it takes' pledge saved the euro, Mario Draghi is once again in the middle of a debt crisis - but the Italian prime minister and former head of the European Central Bank will need more than just words to solve this one.

The International Monetary Fund said on Thursday that China needs to add more fiscal and monetary policy support to combat an economic slowdown brought on by continued COVID-19 lockdowns, but less-restrictive pandemic containment policies also were needed.

Two of the Federal Reserve's most hawkish policymakers on Thursday said they favored another 75-basis-point interest rate increase at the U.S.

Federal Reserve Governor Christopher Waller said on Thursday he supports another 75-basis-point interest rate increase at the U.S.

Federal Reserve Governor Christopher Waller said on Thursday he supports another 75-basis-point interest rate increase at the U.S.

Thailand's central bank is highly likely to raise its key policy rate at its August meeting, a senior director said on Thursday, as other central banks moved to tighten their monetary policy.

Big wage gains for lower-paid U.S. workers, a hallmark of the pandemic economy, were concentrated in less expensive cities, according to a new study that points to another potential stumbling block in getting the job market fully back to normal.

Recession in the major economies is the only sure-fire way to reduce Russia's petroleum revenues - an uncomfortable truth Western policymakers have tried to obfuscate from voters at home.

The number of Americans filing new claims for unemployment benefits increased to an eight-month high last week, suggesting some cooling in the labor market amid rising interest rates and tighter financial conditions.

Hedge fund Ides Capital on Thursday asked U.S. car service and tire center operator Monro Inc to pressure its controlling shareholder to drop a veto to a sale of the company.

The S&P 500 pared early losses to close modestly lower on Thursday after investors digested disappointing quarterly results from two large U.S.

Wall Street stocks pared early losses on Thursday as disappointing quarterly results from two large U.S.

U.S. stocks were set to open lower on Thursday as downbeat earnings from big U.S.

The South African Reserve Bank will raise its benchmark interest rate by 50 basis points to 5.25% next Thursday as it tries to rein in quicker inflation, a Reuters poll found.

The Bank of England may oblige all banks to tap their capital buffer and stop paying dividends in a crisis to avoid a vacuum in lending to households and businesses, one of its senior officials said on Thursday.

Chinese regulators on Thursday vowed to help local governments deliver property projects on time after homebuyers threatened to stop mortgage payments on unfinished apartments, in the first sign Beijing was stepping in to end the market chaos.

Chinese banks could face hefty writedowns in their mortgage businesses as growing numbers of homebuyers threaten to stop loan repayments to protest against unfinished apartments sold to them, analysts said.

Global equity markets and oil slipped and the safe-haven dollar rose after the latest red-hot U.S.

European shares fell on Thursday and the safe-haven dollar rose after the latest red-hot U.S.

European shares dropped in early trading on Thursday and the safe-haven dollar was up after the latest red-hot U.S.

Asian shares struggled on Thursday and the safe haven dollar was strong as white hot U.S.

South Korean President Yoon Suk-yeol pledged on Thursday to help ease the debt-service burden on low-income earners as a surge in interest rates and living costs put more pressure on heavily indebted households.

Australia's unemployment rate dived to a 48-year low in June as hiring outstripped all expectations, while record vacancies suggested the labour market was set to tighten yet further and perhaps justify even larger increases in interest rates.

Oil gained 2.5% on Friday after a U.S. official told Reuters that an immediate Saudi oil output boost was not expected, and as investors question whether OPEC has the room to significantly ramp up crude production.

Oil prices rose on Friday after a U.S. official told Reuters an immediate Saudi oil output boost is not expected, with further support from indications that the U.S.

Oil prices fell more than $4 on Thursday as investors focused on the prospect of a large U.S.

Oil prices fell on Thursday as investors focused on the prospect of a large U.S. rate hike that could stem inflation but at the same time hit oil demand.

Oil prices moved lower on Thursday, paring some losses after falling more than $4 as investors focused on the prospect of a large U.S.