The Group of 7 has announced a new infrastructure funding program that could rival China’s Belt and Road Initiative. One expert says the G-7’s plan offers hope to developing countries but it remains to be seen whether it can match the BRI. On Sunday, the U.S. and the other members of the G-7 including Canada, Germany and Japan formally launched …
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. The Swiss-based BIS has held its annual meeting in recent days, where top central bankers met to discuss their current difficulties and one of the …
Jordan’s King Abdullah said he would support the formation of a Middle East military alliance similar to NATO, and that it can be done with countries that are like-minded. Thomas Kronsteiner | Getty Images News | Getty Images Jordan’s King Abdullah II said he would support the formation of a Middle East military alliance similar to NATO, and that it …
LONDON — European stocks were lower Thursday, as global markets see renewed volatility after a brief recovery following last week’s tumultuous trading. The pan-European Stoxx 600 dropped 0.8% in early trade, with basic resources shedding 1.8% to lead losses as all sectors and major bourses slid into negative territory. European stocks closed lower on Wednesday, reversing gains made in the …
LONDON — European stocks are expected to open in negative territory on Wednesday, giving up gains made in the previous session amid more positive global sentiment. The U.K.’s FTSE index is expected to open 45 points lower at 7,103, Germany’s DAX 112 points lower at 13,180, France’s CAC 40 down 56 points at 5,906, and Italy’s FTSE MIB 174 points lower …
Air travel is roaring back, but not without some significant hiccups. Particularly in North America and Europe, travelers have described chaos at airports, with scores of flights canceled or delayed, luggage lost and wait times to board planes exceeding four hours. That’s partly the result of labor shortages from the pandemic, as layoffs have put pressure on airports and airlines …
LONDON — European stocks inched slightly higher on Monday after a tumultuous trading week last week. The pan-European Stoxx 600 added 0.2% in early trade, with travel and leisure stocks climbing 1.1% to lead gains while construction and material stocks fell 1.2%. The modest gains for Europe today came after a turbulent week of trading on the back of central …
Fixed asset investment data for the first five months of 2022 showed real estate investment declined at a greater scale than it did during the first four months of the year. Pictured here on May 16 is a development in Huai’an City in Jiangsu province in east China. CFOTO | Future Publishing | Getty Images BEIJING — A measure of …
Wharton’s Jeremy Siegel is calling for a 100 basis point rate hike, and says markets may be “close to the bottom.” A 100 basis point rate hike by the Federal Reserve on Wednesday will be “medicine to stop this inflation,” the Wharton professor of finance at the University of Pennsylvania told CNBC on Wednesday. “The Fed needs to grab the narrative of …
New energy vehicles, which include hybrid and battery-powered cars, have seen sales surge in China despite a slump in the overall car market. Pictured here is an unnamed new energy vehicle factory in Jiangsu province on June 13, 2022. Wan Shanchao | Visual China Group | Getty Images BEIJING — China released economic data for May that topped muted expectations …
