ECB hikes interest rates for first time since 2023 as Iran war ramps up energy costs
The European Central Bank also raised its inflation forecasts and cut its growth outlook.
World Economy News
Wholesale prices rose 1.1% in May, more than expected, on surge in energy
The producer price index was expected to increase 0.7% in May, according to the Dow Jones consensus forecast.
Trump says 'I love the inflation' as US prices rise at fastest rate in three years
The US president later said he had meant that he actually loved that inflation was not higher.
Ryanair investigated over charging parents to sit with children
The UK's competition regulator is investigating the airline over charges it imposes on parents to sit next to their child.
Korea fines e-commerce giant $400m over data breach affecting millions
The record fine comes after around 37.5 million users had their private data exposed.
Energy prices take center stage as the ECB prepares to decide on rates
The ECB is expected to raise rates by 25 basis points as higher energy prices drive inflation and raise concerns about broader pri…
Social media on trial: Four important cases to watch
Social media firms face thousands of lawsuits, the BBC looks at four which could be significant.
Trump says U.S. to hit Iran "very hard tonight," suggests Kharg Island takeover
ECB raises interest rates, as widely expected
High US mortgage rates to keep housing market subdued: Reuters poll
ECB raises interest rates amid bid to corral inflation
Denmark’s central bank set to raise key rate to 1.85%
ECB raises interest rates in long-telegraphed move
ECB raises rates to nip war-led inflation in the bud
Developing world’s ’complex’ debt could raise costs, stall restructurings, Lazard says
Argentina’s sovereign bonds gain after S&P upgrades rating to B-
US military disables third oil tanker in Gulf of Oman
The furious dispute over what caused Air India flight 171 to crash
The final conclusions of the investigation have yet to be published, although more could become apparent in the coming days.
Mike Ashley's Frasers offers £1.73bn to buy all of Hugo Boss
The retail group already owns just over a quarter of the German fashion brand but wants to buy the rest of it.
New candy stores are popping up across NYC. Why?
While US consumer confidence is at an historic low the Big Apple's sweet shops are expanding.
I'd have vetoed foreign sale of UK tech giant, says Business Secretary
Peter Kyle's comments come as the government sets out how it would back British technology companies.
SpaceX IPO: Preparing for the biggest liftoff yet?
It’s not just about rockets: what SpaceX does and why its IPO matters
World Cup expected to be the biggest betting event in history
The expansion of the number of games being played is set to drive a surge in the amount of bets placed on this year's World Cup.
Consumer prices rose 4.2% annually in May, highest in three years
The consumer price index was expected to show a 4.2% gain from a year ago, according to the Dow Jones consensus estimate.
UK pint prices up 36% since last World Cup – here's why
UK pint prices are up 36% since the last World Cup. We look at why beer now costs so much more.
Illegal mini-marts to shut for up to 12 months under law change prompted by BBC
Under current rules, shops breaking the law can only be closed for up to six months in England and Wales.
Bill debt soars but many don't know help is available
The majority of billpayers are unaware of special tariffs for water and broadband, the spending watchdog says.
How to enjoy the World Cup - and keep your boss on side
Football fans and bosses share their strategies to balance late night kick offs with work the next day.
World's largest chipmaker does not rule out price rises as costs increase
In a rare interview, a senior executive at TSMC discusses the AI boom, the geopolitics of chips and what it means for the price of…
The May inflation numbers are due out Wednesday morning. Here's what to expect
If the Wall Street consensus is correct, the consumer price index is expected to show inflation running at a 4.2% annual rate.
Household worries over finances hit highest level since July 2022, New York Fed survey shows
While the central bank's monthly survey showed the inflation outlook mostly unchanged, the general perception of conditions deteri…
The May jobs report will be released Friday. Here's what to expect
The stronger-than-expected start this year for job creation could be in for a reality check.
Long-term unemployment is surging in the U.S. There are hidden costs for workers and the economy
Long-term unemployment can have ramifications on financial, emotional and family health that linger even after reentry into the wo…
U.S. proposes fresh tariffs on 60 economies over forced labor trade practices
USTR has proposed a 10% duty rate for economies that have adopted a full or partial prohibition on forced labor trade, and 12.5% f…
U.S., Iran intensify attacks as ceasefire frays, peace talks stall
Iran's IRGC reportedly denied responsibility for the Kuwait airport attack, the latest blow to an already weakened ceasefire agree…
Private payrolls grew by 122,000 in May, stronger than expected, ADP reports
Unlike prior months, where job growth was concentrated in healthcare and a few other sectors, gains were more broad-based.
Job openings in April surged to 7.6 million, the highest in nearly two years
The Bureau of Labor Statistics reported that available employment hit 7.6 million for the month, a surge of 731,000 from the prior…
Inflation hits 3.2% in the euro zone as Iran war pushes energy costs higher
Energy costs in the region surged by an annual rate of 10.9% in May.
Iran war cost: Average U.S. household paying $450 more on gas and energy
Higher energy costs can force consumers to raid their savings and lean more on debt to cover expenses.
How the ‘double scar’ of past inflation woes and geopolitical shocks amid the Iran war is hitting consumers
Mental "scars" reinforce fears of stagflation, when rising prices coincide with declining growth, research finds.