Ukrainian Zelensky urges European unity; Russian reservists suffer heavy casualties

NATO’s Secretary General will urge allies to contribute more for Ukraine NATO Secretary General Jens Stoltenberg will hold a press conference at NATO Headquarters in Brussels on 17 August 2022. François Walschaerts | AFP | Getty Images NATO Secretary General Jens Stoltenberg said he will urge partners to contribute more to Ukraine’s defense at next … Read more

Ukrainian Zelensky urges European unity; Russian reservists suffer heavy casualties

‘We share your pain’: Putin meets mothers of Russian soldiers President Vladimir Putin met with the mothers of Russian soldiers who fought in Ukraine on Friday and told them that he and his country shared their pain. Sitting with the group of women around a table with tea and cake, Putin said he understood that … Read more

Sweden says explosives have been found at the site of Russian pipelines

Climate scientists described the shocking images of gas spewing to the surface of the Baltic Sea as a “reckless release” of greenhouse gas emissions that, if intentional, “amounts to an environmental crime”. Anadolu Agency | Anadolu Agency | Getty Images Sweden’s prosecutor’s office said Friday that an investigation into gas leaks from two submarine pipelines … Read more

Britain’s Chancellor of the Exchequer announces tax increases and spending cuts, says the country is in recession

Chancellor of the Exchequer Jeremy Hunt unveiled a sweeping £55bn ($66bn) fiscal plan in his highly anticipated inaugural autumn statement. Anadolu Agency | Anadolu Agency | Getty Images LONDON — The UK government on Thursday unveiled a sweeping £55 billion ($66 billion) fiscal plan to plug a gaping hole in public finances and restore Britain’s … Read more

UK budget, data, stock movements and news

UK now in recession, says finance minister The UK is now in recession, according to statistics from the Office for Budget Responsibility announced by Chancellor of the Exchequer Jeremy Hunt. Hunt said “tough decisions” will be made to deal with inflation amid the cost of living crisis. —Hannah Ward Glenton Sterling sinks as UK Chancellor … Read more

UK inflation hits 41-year high of 11.1% as food and energy prices continue to rise

UK inflation hit a 41-year high of 11.1% a year in October, while household energy bills and food prices continued to rise. Dan Kitwood | Getty Images News | Getty Images LONDON — UK inflation rose to a 41-year high of 11.1% in October, beating expectations as food, transport and energy prices continued to weigh … Read more

European markets cautious as investors assess Fed outlook

US stocks open lower US stocks opened lower on Monday after investors took a breather from a market rally last week. The Dow Jones Industrial Average opened just below the flatline, while the S&P 500 was down 0.6% in early deals. The Nasdaq Composite was down 1.3%. — Karen Gilchrist Stocks in motion: Rheinmetall 7% … Read more

UK on the brink of recession after economy shrinks 0.2% in third quarter

The Bank of England has warned that the UK is facing its longest recession since records began a century ago. Huw Fairclough | Getty Images News | Getty Images LONDON — UK economy shrank 0.2% in the third quarter of 2022, which could be the start of a protracted recession. The preliminary estimate indicates that … Read more

European Stocks Open to Closing, Data, Earnings and Market Movements

European stocks open lower European stocks opened globally lower on Monday with the pan-European Stoxx 600 down 0.45% before offsetting losses to trade 0.2% lower. Banks, retail, household goods and healthcare were among the sectors that traded in negative territory. China’s exports in October mark the first year-on-year decline since May 2020 China’s dollar exports … Read more

British pound falls after Bank of England recession warning

LONDON — The British pound fell sharply against the on Thursday U.S. dollar after the UK central bank said it expected a recession to last through the whole of 2023 and the first half of 2024. Sterling was trading at $1,1165 at 2pm London time, its lowest level since Oct. 21. It was down 1.9% … Read more