Diana Parini left her waitressing job at an Italian Alpine resort last month because she was fed up with the pay and conditions: eight euros per hour, of which six were paid cash-in-hand with no welfare or pension contributions.
Diana Parini left her waitressing job at an Italian Alpine resort last month because she was fed up with the pay and conditions: eight euros per hour, of which six were paid cash-in-hand with no welfare or pension contributions.
The number of Americans filing new claims for unemployment benefits fell less than expected last week, suggesting some cooling in the labor market, though conditions remain tight.
The number of Americans filing new claims for unemployment benefits fell less than expected last week, suggesting some cooling in the labor market, though conditions remain tight.
Central banks across Europe raised interest rates on Thursday, some by amounts that shocked markets, and hinted at even higher borrowing costs to come to tame soaring inflation that is eroding savings and squeezing corporate profits.
The Bank of England raised interest rates by a further quarter of a percentage point on Thursday but said it was ready to act "forcefully" to stamp out dangers posed by an inflation rate heading above 11%.
Consumers can expect fuel prices at the pump to remain high into next year due to disruptions to Russian oil supplies and as refineries struggle to meet demand recovering from the pandemic, consultancy Wood Mackenzie said.
U.S. stock index futures fell sharply on Thursday, with growth shares taking the biggest hit, after the Federal Reserve's biggest rate increase since 1994 to tame rising prices fanned worries of a recession.
U.S. stock indexes were on track for sharp declines on Thursday, with growth shares taking the biggest hit, after the Federal Reserve's biggest rate increase since 1994 to tame rising prices fanned worries of a recession.
U.S. stock indexes closed sharply lower on Thursday in a broad sell-off as recession fears grew following moves by central banks around the globe to stamp out rising inflation after the Federal Reserve's largest rate hike since 1994.
Wall Street's main indexes were set to open higher on Friday after a brutal selloff triggered by the Federal Reserve and other major central banks raising interest rates heightened recession fears.
U.S. stocks closed with a modest bounce on Friday but still suffered the biggest weekly percentage decline in two years as investors wrestled with the growing likelihood of a recession while global central banks tried to stamp out inflation.
Switzerland's franc soared on Thursday after the Swiss National Bank took markets by surprise with a large interest rate hike, putting the currency on track for its biggest one-day rise against the euro in more than seven years.
Switzerlad's franc and government bond yields soared on Thursday, after the Swiss National Bank took markets by surprise with a large interest rate hike.
Russian gas supply to Europe fell further on Thursday, sparking concerns about refilling storage for winter and igniting a diplomatic tussle as Russian supplier Gazprom blamed Western sanctions for hampering maintenance work.
The Swiss National Bank raised its policy interest rate for the first time in 15 years in a surprise move on Thursday and said it was ready to hike further, joining other central banks in tightening monetary policy to fight resurgent inflation.
The Swiss National Bank raised its policy interest rate for the first time in 15 years in a surprise move on Thursday and said it was ready to hike further, joining other central banks in tightening monetary policy to fight resurgent inflation.
European stocks tumbled to their lowest levels in 16 months on Thursday after policy tightening in Britain and Switzerland fuelled fresh worries about the impact of inflation on the global economy.
Spanish homeowners, fearing a return to the turmoil that nearly bankrupted their country a decade ago, are rushing to shield themselves from rising prices and runaway borrowing costs by striking new mortgage deals that lock in repayment rates.
A markets sell-off has brought back memories of the euro zone debt crisis more than a decade ago, highlighting divisions that have plagued the currency bloc's efforts to forge a closer bond.
South Korea's economy will grow at its slowest pace in three years in 2022 as the world faces supply bottlenecks, surging inflation and rapidly rising interest rates, the finance ministry said on Thursday.
Concerns are growing that U.S. corporate earnings are increasingly at risk from dizzying inflation, a strong dollar and rising interest rates, complicating the outlook for investors already reeling from the S&P 500's bear market confirmation earlier this week.
Deals to take private Singapore's real estate investment trusts (REITs) are expected to gain momentum as the companies reel under rising interest rates and fierce competition to buy assets, bankers and analysts said.
Global port congestion is set to continue until at least early 2023 and keep spot freight rates elevated, logistics executives said on Wednesday, urging charterers to switch to long-term contracts to manage shipping costs.
Asian stocks rose on Thursday, while longer-dated U.S.
Asian stocks stumbled and the dollar regained its footing on Thursday as investors continued to digest the impact of surging inflation and an aggressive policy tightening outlook from global central banks.
World stocks fell on Thursday and bonds resumed their slide after a surprise Swiss interest rate hike fuelled fresh concerns over surging inflation and an aggressive policy tightening outlook from global central banks.
World stocks fell on Thursday and bonds resumed their slide after a surprise Swiss interest rate hike fuelled concerns about surging inflation and an aggressive policy tightening outlook from global central banks.
Oil prices erased early gains to fall to two-week lows on Thursday on the back of inflation concerns highlighted by interest rate hikes in the United States, Britain and Switzerland, though tight oil supply limited losses.
China's new home prices in May fell for the second month this year, depressed by still fragile demand as widespread COVID-19 curbs dented already weak buyer confidence, suggesting more policy stimulus is needed to return the market to growth.
