Russia looked set for its first sovereign default in decades as some bondholders said they had not received overdue interest on Monday following the expiry of a key payment deadline a day earlier.
Russia defaulted on its international bonds for the first time in more than a century, the White House said, as sweeping sanctions have effectively cut the country off from the global financial system, rendering its assets untouchable.
The world's central bank umbrella body, the Bank for International Settlements (BIS), has called for interest rates to be raised "quickly and decisively" to prevent the surge in inflation turning into something even more problematic.
U.S. President Joe Biden told allies "we have to stay together" against Russia on Sunday as G7 leaders gathered for a summit dominated by war in Ukraine and its impact on food and energy supplies and the global economy.
The International Monetary Fund on Friday slashed its U.S.
Two Federal Reserve presidents sold or plan to sell securities following an ethics scandal last year around the investment activities of two fellow central bankers that led to strict new limits on policymakers' securities portfolios, financial disclosures published Friday show.
Latin America's leaders have pulled no punches in the battle against inflation.
U.S. equities could see a 7% move up next week as investors rebalance their portfolios after a brutal first half of the year, J.P.
There's still a lot of life left in the traditional bank note, printing company Koenig & Bauer Banknote Solutions said, with coronavirus and the war in Ukraine driving up demand for paper money despite competition from other forms of payment.
Shares in the biggest U.S. banks rallied on Friday after they passed the Federal Reserve's annual health check, but Bank of America underperformed with test results implying it needs a larger-than-expected capital buffer, which could limit share buybacks and dividends.
Wall Street regulators must do more to address market risks highlighted by the "meme-stock" trading frenzy of January 2021 that pitted individual GameStop Corp investors against powerful hedge funds, a congressional report said Friday.
Wall Street regulators need to do more to address market risks highlighted by the "meme-stock" trading frenzy of January 2021 that pitted individual investors in GameStop Corp against powerful hedge funds, a congressional report said Friday.
Sales of new U.S. single-family homes unexpectedly rose in May, but the rebound is likely to be temporary as home prices continue to increase and the average contract rate on a 30-year fixed-rate mortgage approaches 6%, reducing affordability.
Bank of England Chief Economist Huw Pill said on Friday that interest rates would remain the central bank's main monetary policy tool as it prepares to start selling bonds, reversing part of its economic stimulus push.
Wall Street's main indexes climbed more than 2% on Friday as signs of slowing economic growth and a recent weakening of commodity prices tempered expectations over how high the Federal Reserve will raise interest rates to rein in inflation.
Wall Street's main indexes jumped sharply on Friday in a broad rally as signs of slowing economic growth and a recent pullback in commodity prices tempered expectations for the Federal Reserve's rate-hike plans.
Wall Street's main indexes soared on Friday in a broad rally as signs of slowing economic growth and a recent pullback in commodity prices tempered expectations for the Federal Reserve's rate-hike plans.
The new instrument being designed by the European Central Bank will show its determination to fight the risk of bond market fragmentation, but there will be no goal for specific yield spreads, governing council member Mario Centeno said on Friday.
India's retail inflation is likely to breach the mandated inflation target band of 2-6% for three straight quarters but is showing indications of peaking, Reserve Bank of India deputy governor Michael Patra said on Friday.
European Union leaders will turn on Friday from celebration over Ukraine's start on the road to membership of their bloc to consternation over Russia's squeeze on their gas supplies, soaring prices and sputtering economies.
EU leaders will on Friday discuss how to respond to soaring energy prices and the threat of a total cut-off of Russian gas, accusing Moscow of "weaponising" energy via a supply squeeze that Germany warned could partly shut down its industry this winter.
British consumers cut back on shopping in May in the face of fast-rising inflation, and a measure of their confidence sank to a record low this month, according to data that underscored the scale of the cost-of-living squeeze.
The U.S. dollar slipped against its major peers on Friday, on course for its first weekly decline this month as investors continue to assess the path for Federal Reserve policy and whether aggressive rate hikes would trigger a recession.
The U.S. dollar slipped on Friday and was heading for its first weekly decline this month as traders dialled down bets on where interest rates may peak and brought forward their views on the timing of rate cuts to counter a possible recession.
The U.S. dollar slipped on Friday and posted its first weekly decline this month, as traders pared back bets on where interest rates may peak and brought forward their outlook on the timing of rate cuts to counter a possible recession.
Japan's factory output probably fell in May for a second successive month due to supply chain disruptions caused by strict COVID-19 lockdowns in China, a Reuters poll showed on Friday.
Stocks and bonds were both headed for their first weekly gain in a month on Friday as investors wagered on central banks bringing inflation to heel, though growth fears dragged on commodities.
Global stocks and benchmark U.S. bonds headed for their first weekly gain in a month on Friday, with economic growth worries tempered by a view that sliding copper and other commodity prices could brake runaway inflation.
World stocks headed for their first weekly gain in a month and Wall Street was set to open higher on Friday on hopes that slides in copper and other commodities could put a brake on runaway inflation.
Oil prices traded sideways on Friday after briefly rising nearly $1 per barrel, as the market balanced fears of slower demand from cooling U.S.
