EU countries have reached agreement on their sixth package of sanctions against Russia over its invasion of Ukraine, including a complete import ban on all Russian seaborne crude oil and petroleum products in six to eight months.
U.S. stock indexes fell on Friday after a solid jobs report appeared to give the Federal Reserve a green light to continue on an aggressive policy-tightening path to cool decades-high inflation while shares of Apple and Tesla weighed heavily.
Tesla CEO Elon Musk has a "super bad feeling" about the economy and needs to cut about 10% of staff at the electric carmaker, he said in an email to executives seen by Reuters.
Tesla CEO Elon Musk has a "super bad feeling" about the economy and wants to cut about 10% of jobs at the electric carmaker, he said in an email to executives seen by Reuters.
Tesla CEO Elon Musk has a "super bad feeling" about the economy and needs to cut about 10% of salaried staff at the electric carmaker, he said in emails seen by Reuters.
Wall Street was tipped for a weaker open on Friday, bucking share price gains in Europe and Asia after warnings on the economic outlook from Tesla Chief Executive Elon Musk who outlined plans to lay off 10% of his staff.
Global equity markets fell as U.S. Treasury yields reached two-week highs on Friday after data showed the American economy generated a greater-than-expected number of jobs in May, signaling the Federal Reserve will likely continue raising interest rates in its effort to curb inflation.
New U.S. trade negotiations with Taiwan could move more quickly than broader talks with 12 Indo-Pacific countries given strong interest in Taipei and Washington in deepening economic ties, Deputy U.S.
Australia's central bank will raise rates by a modest 25 basis points for a second straight meeting in June, still opting to move more slowly than most of its peers in a campaign to bring down soaring inflation, a Reuters poll of economists found.
South Korea's consumer inflation picked up more than expected in May to a near 14-year high on a global surge in materials and food costs, data showed on Friday, cementing the case for further interest rate raises.
The United States on Thursday added 71 Russian and Belarusian entities to its trade blacklist including several aircraft factories and shipbuilding and research institutes in its latest effort to deprive the Russian military of U.S.
Portugal's government is aiming to protect young people in the jobs market with a new law to cut the repeated renewals of short-term contracts, increase overtime and redundancy payments, and secure minimum pay levels for interns.
Ukraine jacked up its main interest rate to a seven-year-high of 25% from 10% on Thursday, tightening policy for the first time since the Russian invasion to tackle double-digit inflation and protect the hryvnia as some business activity returns.
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.
