Weather disasters linked to global warming are increasingly reducing the productive capacity of the U.S economy and sapping resources from governments, U.S.
The Bank of England is likely to deliver a "significant policy response" to finance minister Kwasi Kwarteng's huge tax cuts but wants to wait until its next scheduled meeting in November before making its move, BoE Chief Economist Huw Pill said on Tuesday.
The National Bank of Hungary raised its base rate by a larger-than-expected 125 basis points to 13% on Tuesday and ended its more than year-long rate hike cycle amid a slowing economy.
Wall Street's main indexes rose for the first time in six sessions on Tuesday, with megacap growth stocks doing most of the heavy lifting following a bruising selloff on worries of a rate-hike induced economic slowdown.
New orders for U.S.-manufactured capital goods increased more than expected in August, suggesting that businesses remained keen to spend on equipment despite higher interest rates, which could keep the economy on a moderate growth path.
Brazil's consumer prices extended their trend down in the month to mid-September, government statistics agency IBGE said on Tuesday, as fuel costs continued to drop on the back of lower taxes and price cuts by state-run oil firm Petrobras.
The prospect of U.S. interest rates climbing to levels last seen in the run-up to the global financial crisis has cast a fresh pall over emerging economies that have battled to recover from COVID, grappled with rampant inflation and faced capital flight.
The U.S. Federal Reserve will need to raise interest rates to a range between 4.50% and 4.75%, Chicago Fed President Charles Evans said on Tuesday, a more aggressive stance than he has previously embraced that underscores the central bank's hardening resolve to quash excessively high inflation.
The Bank of England's new objective of helping the financial sector remain globally competitive should not encourage risky bets on regulatory standards to win business, BoE executive director Victoria Saporta said on Tuesday.
Mexico's environmental regulator has no records of state oil company Pemex reporting a methane leak last December at the country's top oil field, according to the regulator's response to a freedom of information request filed by Reuters.
Ireland will deliver what ministers have called two budgets in one on Tuesday, making higher than usual spending increases and tax cuts while also helping firms and consumers pay soaring energy bills and putting funds aside if they need more help.
British government bond prices recovered partially on Tuesday from the historic plunges of previous days when investors unloaded sterling assets at a ferocious pace in response to new finance minister Kwasi Kwarteng's borrowing plans.
Global aviation fuel demand is expected to fully recover to pre-pandemic levels of 300 million tonnes per year in the next one to two years, the head of aviation at Shell said on Tuesday.
Indian government bonds will likely only be included in the JPMorgan emerging market global index early next year as New Delhi still needs to address various operational issues, four sources familiar with the matter said.
Europe's STOXX 600 index rose on Tuesday, led by automakers and travel stocks following a three-day selloff triggered by global recession fears, while Italian payments group Nexi topped the benchmark index on a strong business outlook.
Christeen Aiad from eastern Cairo had been hoping to buy a small automatic car this year, but rules preventing importers trading in scarce dollars put paid to that and she is having to get around on her bicycle instead.
Central European policymakers are seeking to end a cycle of interest rate hikes running since last year even as inflationary pressures remain and the world's major central banks keep pursuing higher rates.
The Bank of Japan said it would purchase Japanese government bonds in a special operation on Tuesday, with the benchmark 10-year yield brushing against the 0.25% policy ceiling as the central bank battles a relentless upward surge in global rates.
Trading in tumultuous foreign exchange markets is akin to being in a casino right now, according to some traders navigating markets that have been whipsawed as central banks and governments try to right their economies.
Asian markets attempted to stabilise on Tuesday after a wild few days of stumbling stocks, crumbling bonds, a plunging pound and soaring dollar, with the dollar easing a bit and stocks flat.
The worst may have yet to come as new and existing home sales are plunging, and homeowners see no reason to refinance loans at higher mortgage rates.
Sterling's slide to record lows leaves it staring at parity with the dollar.
The Danish authorities on Monday asked ships to steer clear of a five nautical mile radius off the island of Bornholm after a gas leak overnight from the defunct Russian-owned Nord Stream 2 pipeline drained into the Baltic Sea.
Some investors are growing concerned the dollar's meteoric rise is setting the stage for a rapid reversal, which would bruise those who have sought refuge in the U.S.
Oil markets are bracing for the biggest shift in global trade flows ever as nearly 3 million barrels per day of Russian crude oil and products will have to be diverted to markets outside Europe and advanced economies when European Union sanctions take effect in the coming months, Vitol executives said.
Under a new government, Australia is shaping up to be the next big market for offshore wind developers, attracting interest from the likes of Shell, Denmark's Orsted and Norway's Equinor.
Global oil stocks are set to rise next year amid weakening demand and a stronger U.S.
The pound plunged to a record low against the dollar early on Monday and British bonds were slammed on concerns over the government's fiscal plan, unleashing calls for the Bank of England to deliver an immediate rate hike to restore investor confidence.
The Pakistani rupee opened slightly stronger on Monday as market participants awaited the announcement of a new finance minister, at a time when the country grapples with economic turmoil worsened by devastating floods.
The fight against inflation is the biggest priority, France's finance minister said on Monday as he delivered a 2023 budget subject to what he called unprecedented uncertainty due to the fallout from Russia's war against Ukraine.
