BEIRUT (AP) — Lebanese depositors, including a retired police officer, stormed at least four banks in the cash-strapped country Tuesday after banks ended a weeklong closure and partially reopened.
WASHINGTON (AP) — Devastated by Russia's invasion eight months ago, the Ukrainian economy will plunge 35% this year, the World Bank forecast Tuesday.
The war has destroyed factories and farmland and displaced millions of Ukrainians.
TOKYO (AP) — Asian shares rose Tuesday, encouraged by a rally in U.S. shares after some weak economic data raised hopes that the Federal Reserve might ease away from aggressive interest rate hikes.
A look at some of the key business events and economic indicators upcoming this week:
JOB MARKET BAROMETER
The Labor Department delivers its monthly tally of U.S. job openings Tuesday.
TOKYO (AP) — Business sentiment among large manufacturers worsened for the third straight quarter, a Bank of Japan survey showed Monday, as the world's third largest economy grapples with rising costs, a weakening currency and slowing global demand.
JERUSALEM (AP) — Israel's prime minister on Sunday welcomed a U.S. proposal for setting the maritime border with Lebanon, saying the American plan for resolving a long-running dispute between the neighboring countries would lift Israel's economy and boost regional security.
LONDON (AP) — British Prime Minister Liz Truss said Sunday that she could have done a better job “laying the ground” for her package of unfunded tax cuts, but insisted she would push on with an economic plan that has caused turmoil on financial markets and weakened the country’s public finances.
NEW DELHI, India (AP) — The queues outside petrol pumps in Sri Lanka have lessened, but not the anxiety.
Asanka Sampath, a 43-year-old factory clerk, is forever vigilant. He checks his phone for messages, walks past the pump, and browses social media to see if fuel has arrived.
ABUJA, Nigeria (AP) — Nigerians celebrated the 62nd anniversary of their independence Saturday with the country's leader acknowledging the economic and security hardships citizens are facing as they prepare to vote for a new president in four months.
BEIJING (AP) — Hong Kong’s leader promised Saturday to revive its struggling economy following a campaign to crush a pro-democracy movement as China's ruling Communist Party marked its 73rd anniversary in power under strict anti-virus controls.
SANTA FE, N.M. (AP) — Republican nominee for governor Mark Ronchetti sounded a rallying cry for residents who are dissatisfied with crime and public education in a live-broadcast debate Friday, while incumbent Gov.
WASHINGTON (AP) — Federal Reserve Vice Chair Lael Brainard said Friday that U.S. interest rates will likely have to remain high for an extended period to combat inflation, capping a week of tough rhetoric by Fed officials.
WASHINGTON (AP) — Consumers spent a bit more in August than the previous month, a sign the economy is holding up even as inflation lifts prices for food, rent, and other essentials.
PARIS (AP) — Deep under water, the pipes and cables that carry the modern world's lifeblood — energy and information — are out of sight and largely out of mind. Until, that is, something goes catastrophically wrong.
BEIJING (AP) — Growth in Chinese factory activity was weak in September, export orders fell and employers cut jobs, two surveys showed Friday, adding to pressure on lackluster economic growth.
A monthly purchasing managers’ index released by business news magazine Caixin fell to 48.1 from August’s 49.5 on a 100-point scale in which readings below 50 indicate activity contracting.
TOKYO (AP) — Japan is providing a major U.S. chipmaker a subsidy of up to 46.6 billion yen ($322 million) to support its plan to produce advanced memory chips at a Hiroshima factory, the Japanese trade minister said Friday.
SARAJEVO, Bosnia-Herzegovina (AP) — Bosnia’s general election should be about the fight against rampant corruption and helping the country’s ailing economy. But at a time when Russia has a strong incentive to reignite conflict in the small Balkan nation, Sunday’s vote appears set to be an easy test for the long-entrenched nationalists who have ignored the needs of the people.
LONDON (AP) — Like many small business owners in Britain, Harry Niazi hoped for government help to keep his south London fish and chip shop going in the face of rocketing energy bills and soaring inflation.
BEIJING (AP) — Asian stocks sank again Friday after German inflation spiked higher, British Prime Minister Liz Truss defended a tax-cut plan that rattled investors and Chinese manufacturing weakened.
LONDON (AP) — British Prime Minister Liz Truss on Thursday defended her divisive economic plan and shrugged off the turmoil it has stirred in financial markets, saying she’s willing to make “controversial and difficult decisions” to get the U.K.
WASHINGTON (AP) — The economy shrank in the first half of this year, the government confirmed in a report Thursday, underscoring fears of a broad-based slowdown that could lead to a recession.
ATHENS, Greece (AP) — Google announced plans Thursday to expand its cloud services infrastructure to Greece, promising to create nearly 20,000 jobs through direct investment and partnerships by the end of the decade.
WASHINGTON (AP) — Battered by surging consumer prices and rising interest rates, the U.S. economy shrank at a 0.6% annual rate from April through June, the government announced Thursday, unchanged from its previous second-quarter estimate.
BERLIN (AP) — Germany plans to spend up to 200 billion euros ($195 billion) helping consumers and businesses as surging energy prices due to the war in Ukraine are pushing Europe's largest economy into a looming recession.
WASHINGTON (AP) — The number of Americans filing for jobless benefits dropped last week, a sign that few companies are cutting jobs despite high inflation and a weak economy.
BEIRUT (AP) — Lebanon's Parliament on Thursday failed to elect a new president, with the majority of lawmakers casting blank ballots and some walking out.
The failure pointed out deep political divisions that threaten prolonged political paralysis and a leadership void at time where Lebanon is suffering an economic meltdown and has struggled to reach an agreement with the International Monetary Fund for a bailout.
PUEBLO, Colo. (AP) — Colorado’s Democratic governor, Jared Polis, and his GOP challenger, Heidi Ganahl, offered differing versions of the state with the economy, crime, education and post-pandemic recovery among the top issues in their first debate Wednesday night.
LONDON (AP) — The Bank of England took emergency action Wednesday to stabilize U.K. financial markets and head off a crisis in the broader economy after the government spooked investors with a program of unfunded tax cuts, sending the pound tumbling and the cost of government debt soaring.
LONDON (AP) — New British Prime Minister Liz Truss came under growing pressure Wednesday from opponents — and inside her Conservative Party — to reverse announced tax cuts that are fueling a financial crisis in an already struggling economy.
BEIRUT (AP) — The Lebanese Finance Ministry said Wednesday the crisis-hit country will hike its fixed exchange rate against the dollar to 15,000 Lebanese pounds starting in November, calling it a “necessary corrective action.”
BEIJING (AP) — China’s yuan fell to a 14-year low against the dollar Wednesday despite central bank efforts to stem the slide after U.S.
KANSAS CITY, Kan. (AP) — Republicans redrew Democratic Rep. Sharice Davids ' suburban Kansas City, Kansas-area district this year to make a third term harder for her to win, adding rural areas where former President Donald Trump did well and removing urban areas that Davids had carried handily.
Stocks ended a wobbly day with mixed results on Wall Street as markets continue to be unstable amid worries about a possible recession.
The volatile trading came a day after the Dow Jones Industrial Average followed other major U.S.
LONDON (AP) — The British pound stabilized Tuesday as U.K. authorities tried to ease investor concerns after the biggest tax cuts in 50 years sent the currency tumbling to a record low and prompted some businesses to predict a devastating combination of a weak currency and rising interest rates.
LIVERPOOL, England (AP) — The leader of Britain’s main opposition Labour Party accused the governing Conservatives on Tuesday of losing control of the economy, and promised to take the U.K. out of an “endless cycle of crisis” if his party regains power after more than a decade.
ROME (AP) — The European Commission signed off Tuesday on the next 21-billion-euro ($20.2 billion) tranche of Italy’s pandemic recovery funds, a welcome infusion that comes amid questions about whether Giorgia Meloni and her euroskeptic party, which won the national election, will be able to keep the funding coming.
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said Tuesday that stablecoins will need greater regulation as they become more widely used by consumers.
ROME (AP) — A party with neo-fascist roots won the most votes in Italy’s national election, setting the stage Monday for talks to form the country's first far right-led government since World War II, with Giorgia Meloni at the helm as Italy’s first female premier.
WASHINGTON (AP) — The Federal Reserve will have to keep boosting its benchmark interest rate to a point that raises unemployment and gets inflation down from unusually high levels, two officials said in separate remarks Monday.
LONDON (AP) — The Bank of England sought to reassure financial markets after the British pound touched an all-time low against the U.S.
LONDON (AP) — The pound is taking a pounding.
The British currency has taken a plunge, sliding against the U.S.
PARIS (AP) — France forecasts growth to slow down substantially next year in the EU's second-biggest economy, amid fears of a recession in neighboring Germany as the economic situation in Europe is slammed by the impact of Russia’s war in Ukraine.
PARIS (AP) — Russia's war in Ukraine and the lingering effects of the COVID-19 pandemic are dragging down global economic growth more than expected and driving up inflation that will stay high into next year, the Organization for Economic Cooperation and Development said Monday in a darkening outlook.
FRANKFURT, Germany (AP) — Europe's largest economy is sending recession signals.
ROME (AP) — A party with neo-fascist roots, the Brothers of Italy, won the most votes in Italy’s national elections, looking set to deliver the country’s first far-right-led government since World War II and make its leader, Giorgia Meloni, Italy's first woman premier, near-final results showed Monday.
A look at some of the key business events and economic indicators upcoming this week:
HOUSING MARKET BELLWETHER
The Commerce Department releases its August tally of new U.S. home sales Tuesday.
DUBAI, United Arab Emirates (AP) — Stores are selling winter clothes from last season in the middle of summer. Repair shops lack spare parts for appliances. There's a waiting list to buy a new car.
BERLIN (AP) — German Chancellor Olaf Scholz arrived Saturday in Saudi Arabia for the first stop of a two-day, three-country visit to the Middle East aimed at striking new energy deals and forging fresh alliances amid the economic and geopolitical turmoil resulting from Russia’s invasion of Ukraine.
ASSISI, Italy (AP) — Pope Francis, visiting Assisi, the birthplace of his namesake saint who was close to nature, called on Saturday for “courage” in abandoning fossil fuels and lamented that older generations didn't know how to protect the planet and secure peace,