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Economy
Stocks sink, S&P enters bear market inflation, Fed meeting this week: LIVE UPDATES
Developing StoryDow eases from 800+ point selloffSymbolPriceChange%ChangeI:DJI$30,575.41-817.38-2.60%BA$127.00
-6.73-5.03%DOW$58.67-3.19-5.16%IBM$136.19-1.77-1.28%KO$61.41-0.39-0.63%All 30 Dow components
traded lower mid-morning led by…
Crypto firm Celsius pauses all transfers, withdrawals as markets tumble
A representations of cryptocurrencies in this illustration taken, January 24, 2022. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comRegisterJune 13 (Reuters) - Cryptocurrency lending firm Celsius…
US set for recession next year, economists predict
The US economy will tip into a recession next year, according to nearly 70 per cent of leading academic economists polled by the Financial Times.The latest survey, conducted in partnership with the Initiative on Global Markets at…
Confused about the economy? Here’s what you need to know
"When y'all think they going to announce that we going into a recession?" the rapper tweeted this week. We wish we knew the answer, Cardi. After all, recession forecasting has become the national pastime of economists, market analysts,…
The AP Interview: Sri Lanka PM says he’s open to Russian oil
COLOMBO, Sri Lanka (AP) — Sri Lanka may be compelled to buy more oil from Russia as the island nation hunts desperately for fuel amid an unprecedented economic crisis, the newly appointed prime minister said.Prime Minister Ranil…
Sanctions are hitting hard enough to hurt Russia, if not stop it
Sanctions have affected many aspects of life in Russia, but one particular shortage has sent the wealthy elite into a spin: beauty clinics are running out of Botox. The business daily newspaper Kommersant reported this month that Botox…
Inflation is so high, even Snoop Dogg’s blunt roller got a raise
On Tuesday, the rapper tweeted that even his professional blunt roller got a raise."Inflation," Snoop Dogg tweeted in response to a post by UberFacts, which said his full-time blunt roller makes between $40,000 to $50,000 a year. "Their…
Fact check: Biden falsely claims US has ‘fastest-growing economy in the world’
"Look, here's where we are. We have the fastest-growing economy in the world. The world. The world," Biden said.Asked for comment on Friday, a White House official did not attempt to specifically defend Biden's claim that the US has the…
Consumer sentiment plunges to record low amid surging inflation
Rising inflation continues to frustrate consumers, who are growing tired of shelling out more money -- and they are becoming increasingly despondent in the process.Record gas prices helped push down the consumer sentiment index from 58.4…
Rishi Sunak ‘wasted £11bn by paying too much interest’ on UK debt
Rishi Sunak has been accused of wasting £11bn of taxpayers’ money by paying too much in interest servicing the government’s debt.The National Institute of Economic and Social Research (NIESR) said the losses were the result of the…