ECONOMY & MARKETS

Oil rose in volatile trade on Friday but was still heading for a weekly decline as concern over a potential recession-driven demand downturn outweighed tight global supplies.

Oil prices edged slightly higher in volatile Asian trade on Friday, reversing earlier losses as the market weighed up the tight global supply concerns against recession fears.

Oil prices slipped in Asian trade on Friday as recession fears continued to weigh on sentiment, though worries over tight global supplies capped price declines.

Oil prices slipped in early Asian trade on Friday, following a rebound in the previous session, as investors remained torn between worries over tight global supplies and fears a recession could dampen oil demand.

Japan's household spending posted a surprise drop in May, falling for the third consecutive month in a worrying sign for the long-term outlook of the world's third-largest economy.

The Reserve Bank of New Zealand will deliver a third successive half-point interest rate hike on Wednesday and a fourth next month in its most aggressive policy tightening on record to control soaring inflation, a Reuters poll found.

Growing worries about a potential recession in the United States are tempting some investors back into the Treasury market, despite bruising declines in U.S.

Two of the Federal Reserve's most vocal hawks on Thursday said they would support another 75 basis-point interest rate increase later this month but a downshift to a slower pace afterward, even as both downplayed the risk of higher borrowing costs pushing the U.S into recession.

The U.S. Export-Import Bank plans "aggressive" measures to restore its standing in the business community and to bump up credit volumes running at roughly a quarter of their levels from 2014 before it was hobbled first by Congress and then a global pandemic, the bank's new president said.

France's minority government unveiled on Thursday a 20 billion euro ($20.35 billion) inflation-relief package that will include fuel discounts, rent caps and a boost to pension benefits, but will need backing from at least some of the opposition to be adopted.

Canada's exports surged in May, mainly on lofty energy prices, helping drive its surplus with the rest of world to a surprise 14-year high, official data showed on Thursday.

Central banks should move quickly when raising interest rates, because of the risk that persistent inflationary trends may be taking hold, Bank of England policymaker Catherine Mann said on Thursday.

Hundreds took to the streets of Ghana's capital Accra last week to protest over its deteriorating economy.

Mexico's annual inflation accelerated in June to a level not seen since early 2001, official data showed on Thursday, leaving the central bank little choice but to continue its monetary tightening to tame spiraling consumer prices.

Wall Street benchmarks ended up on Thursday, with the S&P 500 and Nasdaq recording their fourth successive higher closes, as traders leaned in to U.S.

Wall Street benchmarks rose on Thursday, as investors reacted positively to the previous day's commentary from the U.S.

Wall Street's main indexes rose on Thursday as investors scaled back expectations of how much the U.S.

The Bank of Japan is expected to raise its inflation forecast but maintain ultra-low interest rates at this month's policy meeting, sources say, as fears of a U.S.

Britain faces an unsustainable debt burden more than three times its current level unless future governments raise taxes to fund increasing costs from an ageing population and falling revenue from taxation on motor fuel, a watchdog warned on Thursday.

Israel is on track to collect 45.5 billion shekels ($13 billion) more than initially expected in revenue in 2022, the Finance Ministry said on Thursday as it also trimmed economic growth forecasts.

Gold rose on Thursday as a pause in the dollar's rally encouraged some investors to snap up bargains after two sessions of heavy losses that sent prices to a nine-month low.

Gold rose on Thursday as a pause in the dollar's rally encouraged some investors to snap up bargains after two sessions of heavy losses that sent prices to a nine-month low.

Gold rose on Thursday as the dollar pulled back slightly and some investors scooped up bargains after two sessions of heavy losses that plunged prices below the crucial $1,800 level.

Gold prices edged up on Thursday as the dollar eased slightly and some investors scooped up bargains after sharp losses in the previous two sessions.

U.S. equities rose with Treasury yields on Thursday as investors bet on economic light at the end of the Federal Reserve's rate hiking tunnel, while oil prices rose on supply concerns and sterling rallied as UK Prime Minister Boris Johnson resigned .

U.S. equities were rising with Treasury yields on Thursday as investors looked beyond upcoming rate hikes while oil prices rose with a focus on supply concerns outweighing recession fears.

Gains in chipmakers lifted stocks to calm investors after hawkish Federal Reserve comments increased the likelihood of a hefty interest rate hike later this month and raised fears over how much this could slow the economy.

The euro huddled at a two-decade low on Thursday and oil nursed losses as investors fretted about a looming recession, while equities were caught between growth worries and relief that a slowdown might put the brakes on interest rate hikes.

The dollar was little changed after the euro briefly slid to a new two-decade low on Thursday, and sterling held to gains after Boris Johnson said he was quitting as British prime minister.