The Bank of England is expected to raise borrowing costs by the most since 1989 next week, even as it prepares for a recession that could be exacerbated by spending cuts implemented by new Prime Minister Rishi Sunak.   In addition to raising interest rates for the eighth time in a row on...

According to a survey released on Thursday, more than two-thirds of British adults plan to cut back on holiday spending this year as the cost of living continues to rise.   Despite having spent two Christmases under social restrictions due to the COVID-19 pandemic, three-quarters of adults...

According to Reuters, the US's merchandise trade imbalance increased in September as a result of weaker exports and higher imports. It is unclear if this will alter the perception that trade had a role in the third quarter's anticipated recovery in economic growth. The US Department of Commerce...

On Tuesday, Rishi Sunak became Britain's third prime minister in two months, promising to lead the country out of a deep economic crisis and restore trust in politics.   Sunak quickly reappointed Jeremy Hunt as finance minister, attempting to calm markets that had been alarmed by his...

On Tuesday, European Union energy ministers are set to discuss a bloc-wide gas price cap, attempting to navigate their next steps, though any final decisions are likely to take weeks.   Europe has been scrambling to contain high energy prices since Russia cut gas supplies in the...

Moody's has downgraded the UK's economic prospects from "stable" to "negative" due to political instability and high inflation.   Moody's attributed the change in outlook to "heightened unpredictability in policymaking amid weaker growth prospects and high inflation," as well as "risks to...

According to the Saudi state-run SPA, Saudi Arabia's Crown Prince Mohammed bin Salman declared the start of a national global supply chain effort. According to the Saudi state-run SPA, Saudi Arabia's Crown Prince Mohammed bin Salman declared the start of a national global supply chain effort. The...

According to a Reuters analysis of public data and projections released by these companies, the world's top automakers plan to spend nearly $1.2 trillion through 2030 to develop and produce millions of electric vehicles, as well as the batteries and raw materials to support that production.  ...

When European Union leaders meet for the second day of talks in Brussels on Friday, they will discuss reducing their economic reliance on China, assisting Kiev, and punishing Iran for its role in Russia's war on Ukraine.   The previous day, the EU's 27 leaders clashed over a coordinated...