US stocks plunged, Dow dips below 30,000 as inflation, recession fears mount

US stocks plunged Friday, capping four days of declines and lingering inflation and recession concerns. The Dow Jones Industrial Average fell more than 800 points before recovering at the close of trading, but remained below 30,000 for the first time since June. The Dow Jones Industrial Average fell 483.83 points, or 1.61%, to 29,592.85. The … Read more

Self-funded health benefits help companies fight inflation and recession fears

The jobs of corporate finance chiefs may soon become more difficult. Inflation shows no signs of slowing down. It’s no wonder that seven out of ten CFOs think a recession is imminent. And then there’s the cost of employee health insurance, which has risen 47% over the past decade to an average of $22,000 per … Read more

Fed implements fourth rate hike to curb inflation despite recession fears

The Federal Reserve on Wednesday announced it would raise interest rates by 0.75 percentage points to curb inflation. This is the fourth rate hike of the year and the Fed has acknowledged that economic conditions are “weakening”. Following a two-day meeting of the Federal Open Market Committee (FOMC), the Fed released a policy statement announcing … Read more

Fuel retailers target a decline by raising prices

Yes You would think fuel retailers would be hesitant in anticipation of the industry’s “rapid high-level assessment” to be released next Thursday by the Competition and Markets Authority. But far from it. The price of a barrel of Brent Crude fell $10 last week on fears of a global recession and is still below the … Read more

Australian central bank refutes recession, inflation fears

SYDNEY, June 21 (Xinhua) — Governor of Australia’s central bank, the Reserve Bank of Australia (RBA), Philip Lowe has challenged fears Australia is headed for a recession amid rising inflation and cost pressures of livelihood. Speaking to the American Chamber of Commerce in Australia (AMCHAM) in Sydney on Tuesday, Lowe acknowledged that Australia, like many … Read more

Queen Elizabeth fuels health fears as she cancels royal appearance

Queen Elizabeth has concerns for royal fans over her health after announcing that the monarch will not be attending a historic event in the UK for the first time in more than 50 years. A day before the State Opening of Parliament takes place in London’s Westminster – a ceremony the Queen would normally attend … Read more

Global equities, Wall Street futures slip on fear of rate hike

World stocks followed Wall Street lower on Friday as fears spread that US interest rate hikes to fight inflation could slow economic growth. London and Frankfurt opened lower. Shanghai, Hong Kong and Sydney fell. Tokyo won when trade resumed after a holiday. Wall Street futures fell after the benchmark S&P 500 index fell 3.6% on … Read more