Saks Global files for bankruptcy after takeover leads to financial collapse

Debt-riddled retail giant’s demise has cast uncertainty over the future of US luxury fashion

Economic conflicts are world’s greatest risk, WEF survey suggests

Extreme weather events and biodiversity loss identified as the biggest global threats over a longer timeframe

Ban on private equity firms buying single-family homes in US raises concerns institutions could deepen housing crisis on Britain

Jamie Dimon says pressure on chair Jerome Powell could ultimately increase interest rates

In speech, president delivers triumph assessment, claiming US prices are down despite official data showing otherwise

Central bankers from across the world say they “stand in full solidarity with the Federal Reserve System and its Chair Jerome H. Powell”

Consumer price index rose 2.7% in year to December, in line with November, as president feuds with Fed over rate cuts

Global growth ‘downshifted’ since Covid pandemic and sub-Saharan Africa particularly affected, report says

Ten governors including Bank of England’s Andrew Bailey and ECB’s Christine Lagarde say independence is critical

Highly respected figure has cast off restrained approach in defending central bank from escalating attacks

Sales of clothes and computers fall, but discount supermarkets Aldi and Lidl enjoy bumper trading

Powell publicly denounced the inquiry as punishment for not bowing to the president’s wishes on interest rates

Analysts warn that White House pressure on US central bank to cut interest rates could put economy in danger

Rolling coverage of the latest economic and financial news

Picture is as murky as a barrel of oil, with US companies in 2026 expecting their first production drop in four years