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Europe News

Croatia to officially join eurozone as EU summit wraps

EU leaders turned their attention to the cost of living crisis and food security today.

Germany

Food bank demand rising in Germany amid record-high inflation

"Sometimes when I get home after going to the supermarket, I almost start crying, because I can't buy anything anymore."

Ireland

Protests held across Ireland as inflation reaches four-decade high

Irish union members, pensioners, opposition parties and others took to the streets across the country on Saturday to express their anger at the rising living costs.

Euronews Witness

Queues return to Greek soup kitchens as inflation takes its toll

First, the financial crisis played havoc with Greece. Then the pandemic showed up. And now: inflation. will Greeks manage to weather the storm again?

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Money

What’s a bear market and should we worry about another global crash?

The US has fallen into a bear market thanks to the Ukraine war, supply-chain issues and a number of other factors. But what does this mean for investors?

USA

US Federal Reserve attacks inflation with largest rate hike since 1994

The Fed’s decision to raise its key interest rate by 0.75% is seen as an acknowledgement that it's struggling to curb inflation.

Economy

Eurozone to get its first interest rate hike in 11 years next month

The European Central Bank will hike interest rates in July in a bid to tame inflation.

Real Economy

How the war in Ukraine is hitting Europe's economy

In partnership with The European Commission

As food and energy prices soar, what next for Europe’s economy? Real Economy speaks to a leading economist about the economic fallout caused by Russia's war with Ukraine and heads to Germany to visit an aerospace firm attempting to cope with supply chain disruption.

Europe News

Poles told to gather firewood amid soaring energy prices

The government said it was taking steps to make it easier for people to collect firewood in an effort to ease the pressure created by sky-rocketing energy bills and shortages of coal.

This will impact your life

How is the Ukraine war affecting the cost of living crisis?

Russia's invasion of Ukraine has led to record-breaking inflation. But how is the war affecting the cost of living?

Tech News

Swedish 'buy now, pay later' firm Klarna to lay off 10% of staff

Klarna's CEO told staff in a pre-recorded video message: "What we are seeing now in the world is not temporary or short-lived, and hence we need to act".

Economy

Explained: Why higher gas costs lead to higher food prices

The connection partly lies in fertilisers, which require a great deal of gas to be produced.

Economy

Which parts of the Eurozone are being hardest hit by record inflation?

Eurozone inflation is expected to hit a record high of 7.5% in April.

Europe News

Inflation in Sweden has just hit its highest level since 1991

Surging prices, exacerbated by Russia's war in Ukraine, are fuelling the problem.

Mobility

Uber cuts spending, reduces hiring as tech stocks lose their shine

The rideshare company's stock price has fallen over 43 per cent since it first went public in 2019.

United Kingdom

Bank of England raises key rate to highest level in 13 years

The Bank of England raised its key interest rate to the highest level in 13 years on Thursday.

Money

Inflation in Turkey rises to 70%, a 20-year high

Russia’s invasion of Ukraine -- and the resulting surge in gas, oil and grain prices -- has compounded the situation in Turkey, a country reliant on imports.

USA

US raises interest rates by half a point to tame inflation

The increase in the Fed's key rate raised it to a range of 0.75% to 1%, the highest point since the pandemic struck two years ago.

Europe News

Belgians resigned but not yet panicking as prices continue to rise

Inflation in Belgium is one of the highest in Europe, while Brussels has a high unemployment rate.

Economy

Eurozone growth slows down hit by impact of Ukraine war and pandemic

Spain and Germany saw their economies grow by 0.3% and 0.2% respectively in the first three months of the year, quarter-on-quarter -- far smaller than previously projected. France stagnated (0%) and Italy fell (-0.2%).