Sri Lanka is facing its worst financial crisis since independence in 1948, which has left it struggling to pay for essential imports and forced it to default on some foreign debt. Serhej Calka | Istock | Getty Images The International Monetary Fund has ended talks with Sri Lanka, failing to conclude a deal for a … Read more
A pedestrian uses an umbrella to get some relief from the sun as she walks past a sign displaying the temperature on June 20, 2017 in Phoenix, Arizona. Ralph Freso | Getty Images Tips for efficient energy use Most cooling systems use electricity, so making sure your home is running as efficiently as possible can … Read more
Cleveland Fed President Loretta Mester takes part in a panel convened to speak about the health of the US economy in New York November 18, 2015. Lucas Jackson | Reuters Federal Reserve Bank of Cleveland President Loretta Mester said Wednesday that if economic conditions remain the same when the US central bank meets to decide … Read more
John Williams, Chief Executive Officer of the Federal Reserve Bank of New York, speaks at an event in New York, November 6, 2019. Carlo Allegri | Reuters New York Federal Reserve President John Williams said Tuesday he expects the US economy to avoid recession even as he sees the need for significantly higher interest rates … Read more
new York CNN Business — Europe and the United States have barred the import of Russian oil to cut off a crucial revenue source for the Kremlin. But the plan to pile pain on President Vladimir Putin, forcing him to reconsider his war in Ukraine, hasn’t worked. Russia is making just as much money from … Read more
new York CNN — It’s the question everyone is asking: Are we about to enter a recession? A tepid stock market, soaring inflation, and rising interest rates have left Americans less than optimistic about the state of the economy. Consumer sentiment has plunged to a record low, according to a University of Michigan survey released … Read more
A money changer holds Turkish lira and US dollar banknotes at a currency exchange office in Ankara, Turkey December 16, 2021. Cagla Gurdogan | Reuters Turkey’s currency, the lira, enjoyed a much-welcomed boost on Monday and the preceding Friday after the country’s banking regulator announced a ban on lira loans to companies holding what it … Read more
44% of workers are worried about a layoff, job loss Despite the collective optimism around the current job market, 44% of workers are worried about a layoff or job loss, CNBC’s All-America Workforce Survey found. Some 84% are concerned about a recession. Economists are starting to raise their recession probability outlooks. On Monday, Goldman Sachs … Read more
new York CNN Business — Corporate America is frustrated with the Federal Reserve for waiting too long to attack inflation, according to former Trump economic adviser Gary Cohn. Cohn, who is frequently in touch with CEOs, told CNN that businesses have been experiencing wage inflation and surging input costs for more than a year. “I … Read more
Soaring food prices pushed British consumer price inflation to a 40-year high of 9.1% last month, the highest rate out of the Group of Seven countries and underlining the severity of the cost-of-living crunch. The reading, up from 9% in April, matched the consensus of a Reuters poll of economists. Historical records from the Office … Read more