Page 98 - Eco News Today

The inflation wave that crested at a 40-year high last year and remains elevated has eroded U.S. households' sense of financial security, the Federal Reserve reported Monday, with many saying they had reduced their savings to make ends meet, felt less secure about retirement, and had delayed purchases or swapped into cheaper products as they shopped.

Russia is set to introduce a $1 billion monthly cap on the amount of foreign currency residents can buy on the domestic market to settle transactions with exiting foreign firms, according to text published by the Kremlin on Monday.

China's harsh reaction to the Group of Seven (G7) nations' summit in Japan shows that language used by the leaders was not too soft, a spokesperson for the German government said on Monday.

UK's blue-chip index edged higher on Monday, with NatWest shares rising after it agreed to buy 1.3 billion pounds ($1.6 billion) worth of its shares back from the government, although lingering uncertainty over the U.S. debt ceiling impasse weighed on overall mood.

An eight-party alliance in Thailand led by the progressive Move Forward party has outlined its policy plans and priorities, as it seeks support among legislators to form a coalition government after nine years of conservative, army-backed rule.

Private economists in Brazil lowered their expectation for the country's inflation index this year, but the move failed to impress central bank Governor Roberto Campos Neto as he continues to see them running well above official targets.

U.S. President Joe Biden and top congressional Republican Kevin McCarthy could speak as soon as Sunday in talks over raising the federal $31.4 trillion debt ceiling.

Greece holds a general election on Sunday that is seen unlikely to produce a clear winner, with a second vote expected by July if the country's fractious political parties fail to agree to a coalition.

Leaders of the world richest democracies agreed on Friday to stiffen sanctions against Russia and pledged financial support for Ukraine in its fight against Russia's invasion.

Biden and House Speaker Kevin McCarthy are set to speak.