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Economy
Social Security official: Benefits likely to rise 8% due to high inflation
An official with the Social Security Administration said seniors and others who rely on the benefits program are likely to receive a cost-of-living adjustment "closer to 8%" at the end of 2022 due to the current rate of…
European Central Bank announces emergency meeting to discuss market rout
Christine Lagarde, President of the European Central Bank. The central bank has scheduled a last-minute meeting amid rising bond yields.Daniel Roland | Afp | Getty ImagesThe European Central Bank announced an unscheduled monetary policy…
US set for recession next year, economists predict
The US economy will tip into a recession next year, according to nearly 70 per cent of leading academic economists polled by the Financial Times.The latest survey, conducted in partnership with the Initiative on Global Markets at…
Brexit changes will add to soaring costs in 2022, warn UK manufacturers
Manufacturers have warned that Brexit will add to soaring costs facing British industry, amid concerns that customs delays and red tape will rank among the biggest challenges for firms this year.Make UK, the industry body representing…
Dollar firms ahead of U.S. inflation data; PBOC clips yuan’s wings
A U.S. one dollar banknote is seen in this illustration taken November 23, 2021. REUTERS/Murad Sezer/Illustration/File PhotoRegister now for FREE unlimited access to reuters.comRegisterSYDNEY, Dec 10 (Reuters) - The dollar was firm on…
Stocks fall sharply, Dow drops more than 600 points ahead of pivotal inflation data
Stocks fell sharply on Thursday ahead of a key inflation report as investors worried about the state of the U.S. economy.The Dow Jones Industrial Average fell 638.11 points, or 1.94%, to close at 32,272.79. The S&P 500 dropped 2.38%…
Scoop: Biden leans toward easing some of Trump’s China tariffs
President Biden, in an Oval Office meeting last week with key members of his Cabinet, indicated he's leaning toward removing some products from the Trump administration's China tariffs list, people familiar with the matter tell Axios.Why…
Worse than Trump: How Biden bungled the job of leading America’s economy
On Joe Biden's watch, the inflation tiger was let out of its cage after 40 years. He owns it.Rising inflation impacts the stock market and more. Here’s how.Rising prices are scaring investors. Here’s how inflation works, how it affects…
Gas prices surge again in Europe, leaving some business owners ‘terrified’ for the…
A gas cooker is seen in Boroughbridge, northern England.Nigel Roddis | ReutersLONDON — Europe is facing continued volatility in its wholesale gas markets, prompting concerns across the region that an energy crisis could be about to get…
Takeaways from the Uber Files investigation
When it launched operations in a new foreign city, Uber burned through millions of dollars in investor capital to entice drivers and riders to its service. While it was previously known that Uber had provided subsidies, the documents…