economic-crisis
FinanceYoung Greeks Priced Out as Inflation, Rents Soar
TradingFTSE 100 Dips as Stronger Pound and Mixed Earnings Weigh
TradingSterling Rises as Sunak Victory in PM Race Offsets Economic Gloom
Top StoriesTruss and UK Market Turmoil: What You Need to Know
Factbox-Strikes, Protests in Europe Over Cost of Living and Pay
Date: October 18, 2022
(Reuters) – European countries are facing more strikes and protests due to high energy prices and mounting costs of living. Here are details of some industrial actions and demonstrations. FRANCE Regional train traffic in France was cut by about half on Tuesday as several unions called a nationwide strike. They are seeking to capitalise on...
UK’s Cost-Of-Living Crisis Puts the Spotlight on Banks to Aid Recovery
Date: October 7, 2022
Author: Mohit Joshi, President, Infosys. In the UK, inflation has hit a 40-year high and more than 3 in every 4 UK adults are worried about the rising cost of living The UK faces major socio-economic hurdles this winter; since the Covid-19 pandemic, the nation has seen rising interest rates, major supply chain disruption, and...
Italy Forecasts Recession as Meloni Seeks Economy Minister
Date: October 3, 2022
By Giuseppe Fonte and Gavin Jones ROME (Reuters) -Italy’s economy probably shrank in the third quarter and will keep contracting until mid-2023, according to Treasury forecasts that will make grim reading for Giorgia Meloni, the rightist leader expected to be named prime minister this month. The forecasts indicate the euro zone’s third-largest economy, hit by...
European Shares Pare Losses as BoE Seeks to Stabilise Markets
Date: September 28, 2022
By Devik Jain and Dhara Ranasinghe (Reuters) -European shares rallied from session lows on Wednesday led by UK’s blue-chip index after the Bank of England said it would purchase bonds to stabilise the market shaken by British government’s mini-budget. The continent-wide STOXX 600 index was down 0.7% by 1100 GMT, after falling nearly 2% earlier...
Sterling Hits All-Time Low Versus Broadly Stronger Dollar
Date: September 26, 2022
By John McCrank NEW YORK (Reuters) -The British pound dropped to an all-time low against the dollar on Monday as investors worried Britain’s new economic plan will hurt the country’s finances, while the Bank of England said it was watching financial markets “very closely” following sharp moves in asset prices. The dollar, helped by sterling’s...
Euro Zone Economy Faces Growing Risk of Recession, Survey Shows
Date: September 2, 2022
By Jonathan Cable LONDON (Reuters) – Manufacturing activity across the euro zone declined again last month as consumers feeling the pinch from a deepening cost of living crisis cut spending, a survey showed on Thursday, providing more evidence of the growing risk of recession. The downbeat survey comes just a week before the European Central...