Pakistan’s economy is on the brink

Islamabad/London CNN  —  Muhammad Radaqat, a 27-year-old greengrocer, is worried. He doesn’t know how much an onion will cost next week, let alone how he’ll be able to afford the fuel he needs to heat his home and keep his family warm. “All we’re being told by the government is that things are going to … Read more

ECB and Bank of England hike interest rates again in fight with inflation

London CNN  —  Europe’s two largest central banks raised interest rates sharply on Thursday, opting for bigger increases than the US Federal Reserve as inflation in the region remains near historically high levels. The European Central Bank (ECB) and the Bank of England lifted rates by another half a percentage point. Benchmark interest rates for … Read more

Watch Live: Federal Reserve News Conference | WSJ – Wall Street Journal

Watch Live: Federal Reserve News Conference | WSJ  Wall Street Journal Fed’s Powell: will need substantially more evidence to be confident inflation on downward path  Reuters LIVE: Fed Chair Jerome Powell holds news conference following FOMC meeting  Yahoo Finance Stocks Rise to Session Highs as Powell Speaks  The Wall Street Journal LIVE: Chair Powell speaks after Federal Reserve raises … Read more

Britain hit by biggest day of strikes in a decade as pay disputes escalate

London CNN  —  As many as half a million workers are striking across Britain on Wednesday, closing schools, canceling university lectures and bringing most of the rail network to a standstill in what unions say will be the biggest single day of walkouts in more than a decade. Teachers, university staff, train drivers and civil … Read more

Inflation euro zone January 2023 print ahead of ECB rate meeting

Inflation in the euro zone eased in the last two months of 2022 but the economic indicator is still well-above the 2% mandate of the European Central Bank. Jeff Greenberg | Universal Images Group | Getty Images Inflation in the euro zone dropped for a third consecutive month in January on the back of a … Read more

Central banks set to signal interest rate glide path in crucial week

A screen displays the Fed rate announcement as a trader works on the floor of the New York Stock Exchange (NYSE), November 2, 2022. Brendan McDermid | Reuters The U.S. Federal Reserve, European Central Bank and Bank of England are all expected to hike interest rates once again this week, as they make their first … Read more

Millions of Americans earning $100K are living paycheck to paycheck: survey

More than half of Americans earning six-figure salaries admitted they were living paycheck to paycheck last year as high inflation slammed households, according to an alarming study released this week. As of the end of December, 51% of Americans with $100,000 or more in annual income said they lived paycheck to paycheck, according to the … Read more

Employment cost index Q4 2022:

Employment costs increased at a slower than expected pace in the fourth quarter, indicating that inflation pressures on business owners are at least leveling off. The employment cost index, a barometer the Federal Reserve watches closely for inflation signs, increased 1% in the October-to-December period, the Labor Department reported Tuesday. That was a bit below … Read more

IMF: Global economic outlook slightly ‘less gloomy’ than expected

London CNN  —  The global economy will weaken this year as rising interest rates and Russia’s war in Ukraine continue to weigh on activity. But economists are more optimistic than they were just a few months ago. The International Monetary Fund said Monday that it now expects global growth will slow from 3.4% in 2022 … Read more

Investors dangerously ignoring bear market impact on earnings

Famed short seller Jim Chanos sees an alarming trend in the market. “I’ve been on the Street [since] 1980 [and] not one bear market has ever traded above nine times to 14 times the previous peak earnings,” the Chanos & Co. founder told CNBC’s “Fast Money” on Monday. related investing news His latest warning comes … Read more