IBT Staff Reporter

The European Central Bank promised fresh support for the bloc's indebted southern rim on Wednesday, tempering a market rout that threatened a repeat of the debt crisis that almost brought down the single currency a decade ago.

The European Central Bank promised fresh support and a new scheme on Wednesday to temper a market rout that has fanned fears of a new debt crisis on the euro area's southern rim but appears to have disappointed investors looking for bolder steps.

The European Central Bank unveiled fresh measures on Wednesday to temper a market rout that has fanned fears of a new debt crisis on the bloc's southern periphery but appears to have disappointed some investors looking for a more decisive step.

European Central Bank's policymakers were holding a rare, unscheduled meeting on Wednesday to discuss a blowout in borrowing costs for some euro zone nations, fanning speculation the bank may be gearing to act to calm markets.

Shut out of the bond market and spurned by banks, a growing number of cash-starved Chinese local government financing units are tapping a loosely regulated funding channel to directly court yield-hungry retail investors.

As India faces a crippling surge in food and fuel prices, its policymakers will be counting mostly on this year's monsoon rains, not just interest rate hikes, to take inflationary pressure off the country's households and businesses.

President Joe Biden's top officials and Federal Reserve Chair Jerome Powell were quick to dismiss the first embers of inflation in the spring of 2021 in a single word: Transitory.

Germany, Denmark, Slovenia and seven other European Union countries on Wednesday warned of attempts to weaken the bloc's climate change policies, which they said are pushing negotiators towards deals that could thwart the region's green goals.

Private capital has a keen eye on British bus companies.

The S&P 500 index, the most closely followed benchmark for U.S. equities on Wall Street, has slid this year as inflation jumped to its highest rate in 40-years.

China's middle class looks to flee as Covid policies bite

Stradivarius bids to make winning end to Royal Ascot career

The yen is at risk of weakening further against the dollar for at least the rest of 2022, more than two-thirds of economists polled by Reuters said, underscoring the consequences of the Bank of Japan being the lone major central bank clinging to easy policy.

The prince who's the international face of Saudi business may no longer be able to call all the shots.

Russia's invasion of Ukraine was at a "pivotal" moment and the United States and its allies could not lose focus on the three-month long conflict, U.S.

Dozens of defense ministers from NATO countries and other parts of the world are expected on Wednesday to discuss weapons deliveries to Ukraine, U.S.

Ultra-fast delivery firms face post-pandemic hangover

Germany races to stockpile gas before winter

Indonesian President Joko Widodo announced a cabinet reshuffle on Wednesday, sacking the trade minister and announcing a replacement following controversy over a series of policy reversals on palm oil exports.

Indonesian President Joko Widodo announced a cabinet reshuffle on Wednesday, appointing a new trade minister following controversy over a series of policy flip-flops on palm oil exports.

China's economy showed signs of recovery in May after slumping in the prior month as industrial production rose unexpectedly, but consumption was still weak and underlined the challenge for policymakers amid the persistent drag from strict COVID curbs.

Global stocks rallied and government bond yields and the dollar retreated from multi-year highs on Wednesday as investors cheered the Federal Reserve's decision to raise interest rates by three-fourths of a percentage point, the biggest increase since 1994.

European markets rallied on Wednesday on news the European Central Bank would hold an emergency meeting on the recent bond market sell-off ahead of what is expected to be the most aggressive rise in U.S.

The two black women bidding to make VP history in Colombia

Canada businesses hire young teenagers to fill labor shortage

Experts said they were also highly skeptical of the consciousness claim, but human nature and ambition could easily confuse the issue.

Toyota Motor Corp pushed back against critics who say it has been slow to embrace battery electric vehicles (BEV), arguing it needed to offer a variety of car choices to suit different markets and customers.

Toyota Motor Corp, under scrutiny from investors over a perceived sluggish embrace of battery electric vehicles, said on Wednesday it needs to offer a variety of choices to suit different environments and customers.

Toyota Motor Corp, under scrutiny from investors over its commitment to embrace battery electric vehicles, said on Wednesday it needs to offer a variety of choices to suit different environments and customer needs.