IBT Staff Reporter

The euro and sterling fell on Wednesday as concerns resurfaced that interest rate hikes from major central banks to contain inflation run the risk of a sharp global growth slowdown or recession.

The euro and sterling fell on Wednesday as investors turned to the safe haven dollar as part of a move away from riskier assets which also saw a stock market rally fizzle out, and after data showed British consumer price inflation hit a new 40-year high.

The safe haven dollar gained ground on most peers on Wednesday as investors turned nervous again about global growth prospects, while the yen hit a fresh 24-year low as elevated bond yields in the U.S.

The yen hit a fresh 24-year low against the dollar on Wednesday, having taken another tumble overnight as U.S.

US seeks to drastically cut nicotine content in cigarettes

Australia's biggest state on Wednesday cleared casino operator Crown Resorts Ltd to take bets at a A$2.2 billion ($1.5 billion) Sydney casino, a breakthrough after a years-long money-laundering scandal crippled its growth plans.

Oil prices tumbled on Wednesday as U.S. President Joe Biden intensified his efforts to cut fuel costs for drivers and as Wall Street slid on fears that rate hikes by the Federal Reserve could push the U.S.

Oil prices skidded in early trade on Wednesday amid a push by U.S.

The Federal Reserve will deliver another 75-basis-point interest rate hike in July, followed by a half-percentage-point rise in September, and won't scale back to quarter-percentage-point moves until November at the earliest, according to economists polled by Reuters.

Ukraine's President Volodymyr Zelenskiy on Wednesday hailed the European Union's expected offer of candidate status for his battle-weary nation as Russian forces pounded Ukraine's second biggest city Kharkiv and the eastern Donbas region.

The cross-party group, which had been working for weeks on the wording of the legislation, voiced confidence that it would have enough support to pass the Senate, and it could be signed into law by President Joe Biden as soon as next week.

Meta, Microsoft and other tech giants racing to build the emerging metaverse concept have formed a group to foster development of industry standards that would make the companies' nascent digital worlds compatible with each other.

Ant Group was spun off from Alibaba Group Holding 11 years ago but the two Jack Ma-founded companies had continued to collaborate closely, and even function as one company in some aspects, to maximise their competitive advantage.

Ant Group and Alibaba are untangling their operations from each other and independently seeking new business as the Jack Ma-founded companies navigate China's devastating regulatory crackdown, four sources familiar with the matter said.

Private equity firm TPG Inc agreed to acquire all the outstanding shares of Convey Health Solutions Holdings it does not already own, in an all-cash transaction announced on Tuesday.

Franchise Group, the preferred bidder to acquire Kohl's, is in discussions to keep the retailer's top management team, including CEO Michelle Gass, if the planned sale is finalized, three sources familiar with the matter said.

South Korea on Wednesday confirmed its first case of monkeypox virus and pledged to strengthen monitoring and response systems as it raised the alert level to "caution" for the infectious disease.

The death toll from an earthquake in Afghanistan on Wednesday hit 1,000, disaster management officials said, with more than 600 injured and the toll expected to grow as information trickles in from remote mountain villages.

Kellogg Co's plan to spin off and potentially sell its profitable MorningStar Farms vegetarian patties and plant-based meat business could shake up the frozen aisle in grocery stores.

Long wait over as US vaccinates youngest against Covid

Italy's government hit by Five Star party split

The fourth day of the hearings in the U.S. Congress on the Jan.

A group of drivers for Uber Technologies Inc and Lyft Inc on Tuesday accused the companies of unfairly controlling how much passengers are charged for rides in an antitrust lawsuit in California state court.

A Minnesota judge on Tuesday once again rescheduled the trial of two former Minneapolis police officers charged in George Floyd's murder to Oct.

Estonia summoned the Russian ambassador on Tuesday to protest an "extremely serious" violation of its airspace by a Russian helicopter, the second time in less than two weeks that Tallinn has reprimanded Moscow's envoy.

Louisiana Governor John Bel Edwards, a Democrat who opposes abortion, has signed legislation that would impose harsher criminal penalties on abortion providers if the U.S.

Russia's threat to punish Lithuania over blocked rail shipments to Moscow's enclave of Kaliningrad jangled nerves on Tuesday for residents living just across the border who put faith in NATO membership to thwart any potential military action.

The Federal Reserve's aggressive monetary policy tilt has prompted some of Wall Street's biggest banks to ramp up forecasts for a U.S.

US calls Russia's threat against captured Americans 'appalling'