Experts have warned that “extreme inflationary pressures” are likely to worsen in the United Kingdom, and stated that the country is already in the midst of a recession. Alex Veitch, director of policy at the British Chambers of Commerce (BCC), made the comments in a press release on Sept. 1, where the BCC again downgraded its…

Gas prices in the UK shot up nearly a third in the last week of July to reach the highest average cost since mid-March, according to newly released official data. The gas price increased by 31 percent in the week to July 31, the Office for National Statistics (ONS) said on Thursday. Also on Thursday,…

PARIS—Growth in France’s services sector weakened by less than initially expected in July, yet inflationary pressures were likely to weigh in the near-term on the euro zone’s second-biggest economy, a monthly survey showed on Wednesday. Data compiler S&P Global Market Intelligence said its final purchasing managers index for services fell in July to 53.2 points…

Earnings season kicks off next week with Texas Instruments Inc. on July 26. Rosenblatt analyst Hans Mosesmann expected an inline 2Q and inline 3Q guide as it recovered from the China COVIDovid-19 shutdowns. On July 28, Intel Corp. looked to report where Mosesmann expected them to meet 2Q but lower the $76 billion current year outlook due to inflationary pressures in PC,…

The cost of filling up an average family car with petrol has risen above £100 ($125) for the first time, as fuel prices keep rising in the UK. According to data firm Experian Catalist, the average price of a litre of petrol at UK forecourts reached a record 182.3p ($2.29) on June 8, an increase…

SAN FRANCISCO—Tesla Inc surged past Wall Street estimates for quarterly revenue and profit on Wednesday, as the electric carmaker raised prices in response to inflation, offsetting the impact of a Shanghai factory shutdown. Tesla has been an outlier since the pandemic outbreak, posting record deliveries and earnings for several quarters when rivals wrestling with global…

China’s soaring producer price index (PPI) and export prices are adding to inflationary pressures around the world, according to analysts. The Chinese Communist Party’s (CCP) recent power sector reform pushes up inflation and export costs, an expert says. The rising production costs in China continue to reflect onto its downstream consumers overseas. In October, China’s…

American Airlines and Southwest Airlines on Thursday warned mounting inflationary pressures could overshadow strong holiday demand and delay a complete return to profit. Both the Texas-based carriers posted a smaller-than-expected loss in the third quarter, but said rising fuel prices as well as higher labor costs are hurting earnings in the quarter through December. Oil…