Goldman Sachs' President and Chief Operating Officer John Waldron said on Thursday the current economic turmoil is one of the most challenging ones he has ever faced in his career.
U.S. Treasury Secretary Janet Yellen this week issued a 'mea culpa' on getting it wrong on inflation.
The number of Americans filing new claims for unemployment benefits unexpectedly fell last week as demand for labor remained strong, helping to underpin the economy amid rising interest rates and tightening financial conditions.
Wall Street ended sharply higher on Thursday, led by Tesla, Nvidia and other megacap growth stocks in a choppy session ahead of a key jobs report due on Friday.
Wall Street rallied on Thursday, led by Tesla, Nvidia and other megacap growth stocks in a choppy session ahead of a key jobs report due on Friday.
The S&P 500 and the Dow lost ground on Thursday after Microsoft made a surprise cut to its earnings outlook and comments from a Federal Reserve official quashed recent optimism about an eventual pause in the central bank's rate hike moves.
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Sri Lanka is seeking help from the International Monetary Fund (IMF) for its 17th program in seven decades, needing a bailout in place before its economy disintegrates and shortages worsen.
Swiss prices increased in May by their highest level in nearly 14 years, the government said on Thursday, as Switzerland became the latest country to be hit by more expensive fuel and food costs plaguing economies around the world.
Indonesia's inflation rate accelerated slightly in May due to rising food prices and airfares, official data showed on Thursday, roughly in line with market expectations and within the central bank's target range.
Asian share markets slipped on Thursday on widespread investor concern over high inflation and the threat of recession, while oil prices slumped following a report of reassurances from Saudi Arabia over production.
Global equity markets rose while U.S. yields were lower on Thursday after lower-than-expected private payrolls data stirred hopes that the American economy was likely cooling and the Federal Reserve might be persuaded to modify its aggressive stance on interest rates and inflation.
Asian share markets fell on Thursday on widespread investor worries over high inflation and the threat of recession, while oil prices slumped following a report of reassurances from Saudi Arabia over production.
The Reserve Bank of India will concentrate interest rate hikes over the coming months in a relatively short tightening cycle, according to a Reuters poll of economists who expect the repo rate to reach its terminal level early next year.
Japan may see inflationary pressure build as more companies shift away from a business model that worked under a prolonged period of deflation, Bank of Japan board member Seiji Adachi said on Thursday.
In his small shoe factory in the Indian city of Agra, Rajesh Kumar, his two brothers and three workers have been sitting idle for a week, faced with a dearth of new orders and increasing pressure from surging materials costs.
Russia's failure to pay $1.9 million in accrued interest on a dollar bond will trigger payouts potentially worth billions of dollars, a panel of investors determined on Wednesday, as the country teeters on its first major external debt default in over a century.
A panel of investors on Wednesday found Russia had triggered a credit event after it failed to pay nearly $1.9 million in interest on a sovereign bond, taking the nation a step closer to its first major external debt default in over a century.
A panel of investors on Wednesday determined Russia had triggered a credit event after it failed to pay nearly $1.9 million in interest on a sovereign bond, taking the nation a step closer to its first major external debt default in over a century.
U.S. job openings fell in April, but remained at significantly high levels, suggesting that wages would continue to rise as companies scramble for workers, and contribute to inflation staying uncomfortably high for a while.
U.S. job openings fell in April, but remained at considerably high levels, suggesting that wages would continue to rise as companies scramble for workers, and contribute to inflation staying uncomfortably high for a while.
U.S. job openings fell in April, but remained at significantly high levels, suggesting that wages would continue to rise as companies scramble for workers, and contribute to inflation staying uncomfortably high for a while.
Jamie Dimon, Chairman and Chief Executive of JPMorgan Chase & Co described the challenges facing the U.S.
Jamie Dimon, Chairman and Chief Executive of JPMorgan Chase & Co described the challenges facing the U.S.
Canadian manufacturing activity expanded at a faster pace in May as firms raised output to meet strong demand for their goods and inflation pressures showed some signs of easing, data showed on Wednesday.
Sri Lanka is in talks with the International Monetary Fund (IMF) to borrow at least $3 billion via the lender's extended fund facility (EEF), sources familiar with the matter told Reuters.
Sri Lanka is in talks with the International Monetary Fund (IMF) to borrow at least $3 billion via the lender's extended fund facility (EFF), sources familiar with the matter told Reuters.
The global property market frenzy that gathered pace during the pandemic as people scrambled to buy more living space is likely over as interest rates rise, and house price inflation is expected to drop off, Reuters surveys of market experts showed.
U.S. stocks were in the red on Wednesday as investors bet that the latest economic data would do nothing to push the Federal Reserve off track from its aggressive interest rate hiking cycle aimed at taming run-away inflation.
Wall Street's three major indexes closed lower on Wednesday as investors bet that the latest economic data would do nothing to push the Federal Reserve off track from its aggressive interest rate hiking cycle aimed at taming run-away inflation.
