EU economics chief says bloc is not afraid of Putin, ready to react over halted Russian gas supplies
The European Union is “ready to react” to Russia’s latest decision to halt gas supplies to the bloc, a top EU official has told CNBC.
Financial News
Russia’s energy influence over Europe ‘is nearly over’ as bloc races to shore up winter gas supplies
Europe has endured a sharp drop in gas exports from Russia, its largest energy supplier, in recent months.
Some market players are starting to fear a major policy error from a central bank
The U.S. Federal Reserve last week struck a hawkish tone on combating inflation via monetary policy, but analysts are concerned.
Euro zone inflation hits another record of 9.1% as food and energy prices soar
Euro zone inflation hit a new record high in August at 9.1%, exceeding economists’ expectations.
Elon Musk files another notice to terminate Twitter acquisition, citing additional reasons
Elon Musk filed another notice on Tuesday to terminate his acquisition of Twitter, citing additional “undisclosed” reasons.
Chinese tech giants had their worst quarterly growth on record, thanks to Beijing’s zero-Covid policy
In the second quarter, Alibaba posted its first ever flat year-on-year quarterly revenue growth and Tencent reported its first sales decline on record.
NASA is set to launch the Artemis 1 mission on its most powerful rocket yet — here’s what you should know
The uncrewed Artemis I launch marks the debut of the most powerful rocket ever assembled and kicks off NASA’s long-awaited return to the moon’s surface.
Powell warns of ‘some pain’ ahead as the Fed fights to bring down inflation
Fed Chairman Jerome Powell warned that he expects the central bank to continue raising rates in a way that will cause “some pain” to the economy.
UK energy bills to rise by 80% in October as regulator announces hike
The government has been criticised for failing to provide enough support to shield consumers from “catastrophic” price rises.
Sony hikes the price of its PlayStation 5 console because of soaring inflation
Sony on Thursday raised the recommended retail price of its PlayStation 5 games console in several international markets citing the global economic environment.