Budget holidays special: Thirty cut-price summer breaks from Corfu to the Caribbean

Tour operators have reductions of around a third on many peak summer holidays, as they attempt to woo back post-pandemic customers. But Britain’s leading travel company, TUI, warns that the cheapest holidays may not last long if higher fuel costs and other forms of inflation have to be taken into account later in the year. … Read more

What to think about when saving for near-term goals amid choppy markets

As inflation soars and markets slide, many investors are wondering what’s coming next. Traditional advice dictates that long-term investors — those who are focused on retirement dates further down the road — should stay the course in the markets. But those with shorter time horizons of three- to five-years for a closer goal, like saving … Read more

Biden: SKorean chip plant a model for deeper ties to Asia

PYEONGTAEK, South Korea (AP) — President Joe Biden opened a trip to Asia on Friday by touring a South Korean computer chip factory that will be the model for another plant in Texas, offering it as a way to deepen ties with the Indo Pacific and fuel technological innovation and foster vibrant democracies. “So much … Read more

Stephen Roach gives stagflation warning, calls peak inflation absurd

Stagflation is making a comeback, according to former Morgan Stanley Asia chairman Stephen Roach. He warns the US is on a dangerous path that leads to higher prices coupled with slower growth. “This inflation problem is widespread, it’s persistent and likely to be protracted,” Roach told CNBC’s “Fast Money” on Thursday. “The markets are not … Read more

Inflation, Russia-Ukraine War Draw G7 Finance Leaders’ Focus | Business News

By FATIMA HUSSEIN and FRANK JORDANS, Associated Press KOENIGSWINTER, Germany (AP) — Finance ministers for the Group of Seven leading economies grappled Thursday with deepening inflation concerns and the immediate effects of Russia’s war in Ukraine, with US Treasury Secretary Janet Yellen promising that the allies would put together enough additional aid to help Ukraine … Read more

Fed isn’t focused on impact of rates on stocks, Esther George Says

Kansas City Federal Reserve President Esther George said Thursday that higher interest rates are needed now to bring down inflation and policymakers are not focused on the impact that is having on the stock market. In a CNBC interview, the central bank official noted that the Fed is looking to tighten financial conditions, of which … Read more

Asian shares track Wall Street’s inflation-fueled retreat

TOKYO (AP) — Shares dropped sharply in Asia on Thursday after a broad retreat on Wall Street triggered by dismal results from major retailer Target that renewed worries about the impact of high inflation. Hong Kong’s Hang Seng led the declines, dropping 3.1%, while Tokyo’s Nikkei 225 index was 2.7% lower. The Dow Jones Industrial … Read more

UK inflation jumps to 40-year high of 9% as food and energy prices spiral

The UK’s Office for National Statistics said its estimates suggest that inflation would have last been higher “sometime around 1982.” Justin Tallis | Afp | Getty Images LONDON — UK inflation soared to a 40-year high of 9% in April as food and energy prices spiraled, official figures revealed Wednesday, escalating the country’s cost-of-living crisis. … Read more

Powell says the Fed will not hesitate to keep raising rates until inflation comes down

US Federal Reserve Chairman, Jerome Powell, testifies before the House Financial Services Committee on “The Semiannual Monetary Policy Report to the Congress,” in Washington, DC, on March 3, 2022. Jonathan Ernst | AFP | Getty Images Federal Reserve Chairman Jerome Powell emphasized his resolve to get inflation down, saying Tuesday he will back interest rate … Read more

Up 0.9% vs 1.0% Estimate

A woman pushes a shopping cart through the grocery isolate at Target in Annapolis, Maryland, on May 16, 2022, as Americans brace for summer sticker shock as inflation continues to grow. JimWatson | AFP | Getty Images Consumers kept spending in April, with retail sales rising about in line with Wall Street expectations despite an … Read more