IBT Staff Reporter

Surging petrol and food prices last month pushed British inflation to its highest rate in 40 years, according to official figures that bolstered the chances of a rare half percentage-point Bank of England interest rate hike next month.

Surging petrol and food prices last month pushed British inflation to its highest rate in 40 years, according to official figures that bolstered the chances of a rare half percentage-point Bank of England interest rate hike next month.

There's a weary acceptance among investors of almost inevitable market volatility around Italy's latest political upheaval - but that's where the hand-wringing tends to end this time.

Porsche may have to go public at a steep discount if it insists on going ahead as economic obstacles mount, two people involved in the landmark multi-billion-euro listing said.

Last man standing: Russia former mayor does not 'fear' prison

Uniper could be allowed to pass on some of its higher gas costs to consumers under the terms of a rescue package being discussed with the German government, sources told Reuters on Wednesday.

The German government plans to take a 30% stake in Uniper and will allow the utility to pass on some energy costs to customers as part of a bailout package that sources told Reuters could be finalised this week.

Six-time PM Wickremesinghe elected Sri Lanka president

A revolt by Chinese homebuyers, who have threatened to stop paying mortgages on hundreds of unfinished housing projects, is spurring a shakeout among cash-starved property developers who have long relied on pre-sales of apartments.

Dos Santos dethrones Warholm, Wightman shocks Ingebrigtsen

The New Zealand government said on Wednesday that it had created a new investor migrant visa to attract experienced, high-value investors to invest in domestic businesses.

The European Union set out emergency plans on Wednesday for countries to cut their gas use by 15% until March, warning them that without deep cuts now they could struggle for fuel during winter if Russia cuts off supply.

The European Union will set out emergency plans on Wednesday to reduce gas demand within months, warning countries that without deep cuts now they could struggle for fuel during winter if Russia cuts off deliveries.

Rolls-Royce champions energy transition at Farnborough

Striking contract workers and Daewoo Shipbuilding & Marine Engineering (DSME) have made some progress in talks over wage hikes, the two sides said on Wednesday, seeking to avoid the use of force to end a siege of the shipyard.

Striking contract workers and Daewoo Shipbuilding & Marine Engineering (DSME) have made some progress in talks over wage hikes, the two sides said on Wednesday, seeking to avoid the use of force to end a siege of the shipyard.

Thailand's economy has clearly recovered and the central bank will ensure the recovery is not interrupted by efforts to tackle higher inflation, the central bank chief said on Wednesday, amid expectations of an interest rate hike.

India's mango man, father of 300 varieties

Raising temperatures: Pakistan climate catastrophist Sherry Rehman

Crunch time as Italy's Draghi faces parliament

Asian shares extended a global rally on Wednesday as strong U.S.

World shares hit a three-week high on Wednesday and U.S.

World shares hit a three-week high on Wednesday as strong U.S.

Indigenous Canadians hopeful ahead of Pope's apology for school abuse

The euro slipped from two-week highs on Wednesday, as investors braced for a crucial European Central Bank policy meeting on Thursday after policymakers floated the prospects of a 50 bps interest rate hike.

The euro held near two-week highs versus the dollar on Wednesday on expectations of a bigger ECB interest rate increase this week than earlier anticipated and a Reuters report that a key Russian gas pipeline would reopen on time after maintenance.

The U.S. dollar retreated further on Wednesday as the euro extended its overnight bounce on relief Europe might avoid the worst fears concerning energy shortages, and on the chance the European Central Bank may deliver a more aggressive rate hike.

The U.S. dollar rose against the euro on Wednesday in a choppy session, but its gains were capped as traders were hesitant to drive big moves ahead of a crucial European Central Bank policy decision on Thursday.

The U.S. dollar retreated on Wednesday as the euro extended its overnight bounce on relief Europe might be able to avoid the worst fears concerning energy shortages, and on the chance the European Central Bank may deliver a more aggressive rate hike.