Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.

Forex

The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

Stock Market

14 Jan 2022

U.K. Markets Soar as GDP Firms while European Stocks Plummet

The Index Today

A stronger GDP has propelled U.K. markets growth on Friday while European stocks faced a drop following comments by a hawkish Fed, adding to the ongoing worldwide selloff.

France’s CAC 40 fell by 0.8%, Germany’s DAX plummeted 0.7%, and the FTSE in the U.K. plunged by 0.2% at 0910 GMT.

The U.K. economy’s 0.9% growth in November spurred the FTSE to surpass prominent peers in Europe. However, this development was stalled after the country witnessed a rapid surge in Omicron infections last year during the month of December.

Wall Street’s major indices fell sharply following hawkish comments made by Fed policymakers with regards to an ahead-of-schedule interest rate hikes in the U.S. Fed Governor Lael Brainard has also echoed current sentiments of American central banks calling for increased interest rate hikes to combat pandemic-induced inflation.

Clay pottery with table linens