Economy

Economy Latest News

US inflation edges up as Trump tariffs flow through economy
US inflation edges up as Trump tariffs flow through economy
by  AFP

US consumer inflation ticked up in May, in line with analyst expectations, government data showed Wednesday as President Donald Trump's sweeping tariffs began to ripple through the world's biggest economy. Despite the wide-ranging duties, analysts said it will take months to gauge the impact on consumer inflation.

Russians struggle with 'crazy' prices
Russians struggle with 'crazy' prices
by  AFP

Russian pensioner Roman Paltievich stared at the prices for apricots, tomatoes and watermelons stacked high on stalls at a Moscow market -- foods that he now struggles to fit into his budget. - Filling up the fridge - Many of those navigating the aisles at Moscow's Preobrazhensky market were also worried about high prices.

ECB's Lagarde slams 'coercive trade policies' in Beijing visit
ECB's Lagarde slams 'coercive trade policies' in Beijing visit
by  AFP

European Central Bank chief Christine Lagarde warned Wednesday that "coercive trade policies" risked harming supply chains and the global economy, and called for a de-escalation of a tariff standoff that has wiped billions off markets. She warned that protectionism risked "eroding the foundations of global prosperity".

UK expected to boost defence, health in major spending review
UK expected to boost defence, health in major spending review
by  AFP

Britain's Labour government will unveil its day-to-day spending and investment plans for the coming years on Wednesday, with big funding increases to defence and healthcare expected, along with cuts elsewhere. But the increased spending leaves other government departments facing funding squeezes.

French Tesla customers sue over brand becoming 'extreme right'
French Tesla customers sue over brand becoming 'extreme right'
by  AFP

Around 10 French clients with leases on Teslas are suing the US carmaker, run by Elon Musk, because they consider the vehicles to be "extreme-right" symbols, the law firm representing them said on Wednesday. They feel they suffered "direct and concrete" damage from the way Teslas are now associated with "Elon Musk's actions", the GKA law firm said.