IBT Staff Reporter

Expectations for how drastically central banks need to tighten monetary policy to fight soaring inflation have taken another leap higher, shaking up global markets and rattling investors.

Armed residents and local security forces in Somalia's Galmudug state killed 70 Al Shabaab fighters as they repulsed a raid by militants on Bahdo town on Friday, a local official said.

French screen legend Jean-Louis Trintignant dead at 91

Facing intense competition for talent and pressure to hit diversity goals, banks are getting more creative in their hiring, with Citigroup Inc recruiting U.S.

TikTok said it has completed migrating information on its U.S.

A former investment banker and passionate jogger, Santander's newly-appointed CEO Hector Grisi knows how to bring teams together and motivate staff even as he stands up for his views, executives who have either worked with him or known him for years say.

Since Ngozi Okonjo-Iweala took over as head of the World Trade Organization last year, one of her main bugbears has been the negotiating style of member countries, which she says is ineffective, inflexible and needs to change.

Ukraine's ferocious defence of cities dampens Russian ambitions

Rwandan police on Friday shot and killed a Congolese soldier who crossed the border and fired at security forces, Rwanda's army said, as fighting intensified 50 km (30 miles) away between Congo's military and rebels it says are backed by Rwanda.

Democratic Republic of Congo restricted the hours of border crossings with Rwanda on Friday after a Congolese soldier was shot dead while attacking border guards inside Rwandan territory.

Democratic Republic of Congo closed its border with Rwanda on Friday after a Congolese soldier was shot dead while attacking border guards inside Rwandan territory.

Rwandan police on Friday shot dead a Congolese soldier who crossed the border and fired at border security, Rwanda's army said, near an area where Congo's army is battling rebels it accuses Rwanda of backing.

An unusually large quarterly expiration of U.S. stock futures and options on Friday is likely to boost trading volumes and add to volatility, market strategists said, with some even expecting it to trigger a relief rally at the end of a turbulent week.

Macron, Zelensky turn page on Russia 'humiliation' spat

Sri Lanka schools, govt offices to shut as transport grinds to halt

Biden calls clean energy matter of national security

Italy may declare a heightened "state of alert" on gas next week if Russia continues to curb its supplies, two government sources said on Friday after energy company Eni reported a shortfall in flows from Moscow for the third day in a row.

Sri Lanka's government on Friday ordered public sector employees to work from home for two weeks due to severe fuel shortages as the island nation grapples with its worst financial turmoil in seven decades.

South Korean aerospace and defense company Innospace will be the first private business to send up a rocket from the Alcantara launch center in northern Brazil in December, Brazilian Space Agency President Carlos Moura told Reuters on Friday.

Brazilian motorists will soon pay more at the pump after state-run Petrobras said it plans to hike fuel prices from Saturday as the country grapples with soaring inflation ahead of elections later this year.

Europe swelters in record-breaking June heatwave

DR Congo soldier killed in gunfire on Rwandan border

The Federal Reserve, fresh from its biggest interest rate hike in more than a quarter of a century, signaled on Friday that the rising risk of recession will not stop its battle to bring down searing inflation that's punishing American households.

The Federal Reserve, fresh from its biggest interest rate hike in more than a quarter of a century, signaled on Friday it will not let anything stand in the way of its battle to bring down the searing inflation that's punishing American households.

The London Metal Exchange (LME) approved rules on Friday for members to report all over the counter (OTC) positions, a move taken after off-exchange trading was partly blamed for a wild spike in nickel prices in March.

The U.S. Food and Drug Administration on Friday authorized two COVID-19 vaccines for children under 5, opening the door to vaccinating millions of the country's youngest children once the Centers for Disease Control and Prevention agrees.

Russia gas squeeze threatens Europe's stockpiling plans

Benchmark European and British gas prices are on course for gains of more than 50% this week after Russia said capacity of its Nord Stream 1 pipeline, which take gas directly to Germany, would be cut by around 60%, dramatically reducing European gas supply.

Private equity investors gathered in Berlin at their annual get-together are fretting a season of record buyouts is drawing to a close after a week of market turmoil and recession fears as central banks across Europe have hiked interest rates.