China will set up a state infrastructure investment fund worth 500 billion yuan ($74.69 billion) to spur infrastructure spending and revive a flagging economy, two people with knowledge of the matter told Reuters on Tuesday.
The euro sank on Tuesday to its weakest level against the dollar in almost 20 years while oil futures tumbled and bond prices rose as investors sought safety after the latest data fueled fears of a global economic slowdown.
Wall Street's major stock indexes followed European stocks lower on Monday, and the euro sank to its weakest level against the dollar since late 2002, as investors sought safety after the latest data piled on to fears about a global economic slowdown.
The euro sank to a two-decade low versus the dollar on Tuesday as a jump in natural gas prices reignited worries about the euro zone economy and data showed business growth in the region slowed sharply in June.
The euro sank to a two-decade low versus the dollar on Tuesday as another surge in natural gas prices reignited worries about the health of the euro zone economy and data showed euro zone business growth slowed sharply in June.
Gold lost more than 2% on Tuesday to sink further below the $1,800 support level as a sharp rally in the dollar and rising interest rates sapped appetite for the non-yielding asset.
Gold fell on Tuesday pressured by rate hike expectations and a stronger dollar, but growing recession fears kept safe-haven bullion pinned near the key support level of $1,800 an ounce.
Gold fell on Tuesday pressured by rate hike expectations and a stronger dollar, but growing recession fears kept safe-haven bullion above the key support level of $1,800 an ounce.
Gold prices rose marginally on Tuesday, buoyed by economic growth concerns, although an elevated dollar and impending interest rate hikes kept gains in check.
Gold prices eased in a narrow range on Tuesday, as an elevated dollar and impending interest rate hikes overpowered support from underlying concerns over the global economic outlook.
Philippine inflation surged to the highest level in nearly four years in June, cementing expectations for more interest rate hikes and increasing the prospect of the central bank acting more aggressively to temper price pressures.
Oil plummeted nearly $12 a barrel on Tuesday in the biggest daily drop since March and the decline spread to other energy sectors amid worries of a global recession.
Oil plummeted about 9% on Tuesday in the biggest daily drop since March on growing fears of a global recession and lockdowns in China that could slash demand.
Oil plummeted by about $10 a barrel on Tuesday as concerns of a global recession curtailing demand overshadowed a strike by Norwegian oil and gas workers that could cut exports and exacerbate supply shortages.
Brent oil slipped on Tuesday as concerns of a possible global recession curtailing demand outweighed supply disruption fears, highlighted by an expected production cut in Norway.
Oil prices dropped $6 on Tuesday as concerns about a possible global recession curtailing demand outweighed supply disruption fears, highlighted by an expected production cut in Norway.
Brent oil prices dipped on Tuesday, reversing earlier gains of $1, as concerns of a possible global recession curtailing fuel demand outweighed supply disruption fears, highlighted by a potential production cut in Norway.
Brent oil prices slipped on Tuesday, reversing earlier gains, as concerns of a possible global recession curtailing fuel demand outweighed supply disruption fears, highlighted by an expected production cut in Norway.
Brent oil prices were little changed on Tuesday, reversing earlier gains of $1, as investors weighted supply concerns, highlighted by a potential production cut in Norway, and worries about a possible global recession curtailing fuel demand.
Brent crude futures extended gains on Tuesday as a strike in Norway is expected to disrupt oil and gas output, fanning tight supply worries.
By Lucy CraymerWELLINGTON -New Zealand's business confidence continued to worsen in the second quarter of this year as companies grappled with increased costs and higher interest rates, a private think tank said on Tuesday.
Ireland's reliance on just 10 multinational firms to pay over half of the country's soaring corporate tax receipts represents an "incredible level of vulnerability" for the economy, the finance ministry's chief economist warned on Monday.
Argentina's new economy minister Silvina Batakis was sworn in on Monday and quickly moved to calm markets that slid after the shock resignation of her predecessor on fears his exit would spark a shift towards more populist policies and state spending.
Argentina's closely watched black market peso crashed on Monday after the country's economy minister quit abruptly over the weekend and was replaced by an economist more closely aligned with the far-left wing of the ruling Peronist coalition.
Argentina's closely-watched black market peso crashed around 11% after the country's economy minister quit abruptly over the weekend and was replaced by an economist more closely aligned with the far-left wing of the ruling Peronist coalition.
Canadian businesses now expect inflation to be high for longer, with firms eyeing survey-high wage increases over the next year and many planning to pass rising costs onto customers, a Bank of Canada survey showed Monday.
The Bank of Israel escalated its battle against inflation on Monday, raising its benchmark interest rate by a half percentage point, and signalled no sign of stopping despite an uncertain political environment.
The Bank of Israel on Monday raised its benchmark interest rate by a half percentage point, its most aggressive move in more than a decade and signalled no sign of stopping in a bid to battle rising inflation that has topped 4%.
Lebanon's top finance lawmaker said prime minister designate Najib Mikati had verbally proposed "very serious" changes to a recently-adopted plan to revamp the collapsed financial sector, in a move that could delay progress towards a final IMF deal.
British manufacturing firm Corbetts the Galvanizers used to rely on a stream of workers from Poland and Romania to fill its shop floor, where steel is dipped into a long vat of molten zinc at temperatures of around 450?C (842?F).
