U.S. teetering on brink of recession as GDP contracts in second quarter
The U.S. economy unexpectedly contracted in the second quarter, with consumer spending growing at its slowest pace in two years and business spending declining, raising the risk that the economy was on the cusp of a recession.
World may enter new global recession says IMF
The International Monetary Fund (IMF) on Tuesday attested that the world is in danger of falling into another global recession, the Times of Israel (TOI) reports. The IMF gave its grim view in its latest World Economic Outlook (WEO), amid surging infla…
As NATO Grows, China and Russia Seek to Bring Iran, Saudi Arabia Into Fold
In the East, however, security and economy-focused blocs led by Beijing and Moscow are looking to take on new members of their own, including Iran and Saudi Arabia, two influential Middle Eastern rivals whose interest in shoring up cooperation on this …
Italy President Dissolves Parliament As Europe Faces Economic Crisis
Europe, already rattled by record inflation, faced more headache this weekend after Italy’s president dissolved the Parliament of Europe’s third-largest economy.
Italy President Dissolves Parliament As Europe Faces Economic Crisis
Europe, already rattled by record inflation, faced more headache this weekend after Italy’s president dissolved the Parliament of Europe’s third-largest economy.
US inflation reaches 40-year high as global inflation crisis grinds on
Inflation in the US hit a 40-year high in May, as America joined the UK, the Eurozone, and countries in Africa, South America, and Asia fighting massive consumer prices against a backdrop of the pandemic and the Russian invasion of Ukraine.
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