Economics

China economy shrinks on zero-Covid policy

China's economy contracted sharply in the second quarter of this year as widespread coronavirus lockdowns hit businesses and consumers.

Gross…

US inflation reached a new 40-year high in June of 9.1%

Surging prices for gas, food and rent catapulted U.S. inflation to a new four-decade peak in June, further pressuring households and likely sealing…

Cost-of-living crisis to hit women hardest report says

 A cost-of-living crisis sparked in part by higher fuel and food prices is expected to hit women the hardest, the World Economic Forum…

Corporate profitability to decline for 3rd consecutive quarter

Corporate profitability — or the earnings before interest, taxes, depreciation and amortisation (Ebitda) margin — likely remained steady…

ECB climate stress test flags $71bn risk to euro zone banks

FRANKFURT: A sudden jump in carbon prices coupled with floods and droughts this year would lead to losses of at least 70 billion euros ($71.1 billion)…

US jobless claims rose last week to highest since January

More Americans applied for unemployment benefits last week and while layoffs remain low, it was the fifth consecutive week that claims topped the 230,000…

Inflation plunged 71 million into poverty since Ukraine war

Some 71 million people worldwide are experiencing poverty due to soaring food and energy prices driven by Russia’s invasion of Ukraine,…

New Zealand central bank warns NAB unit on money laundering

New Zealand’s central bank on Friday issued a formal warning to National Australia Bank Ltd’s local unit for failing to report approximately…