Breaking News: Europe

Euro zone economy grows 0.7% in the second quarter despite gas crisis and inflation surge

Euro zone economy grows 0.7% in the second quarter despite gas crisis and inflation surge

Growth in the euro zone economy accelerated in the second quarter of the year, but the region’s prospects get hit as Russia continues to reduce gas supplies. The 19-member bloc registered a gross domestic product rate of 0.7% in the second quarter, according to Eurostat, Europe’s statistics office, beating expectations of 0.2% growth. It comes …

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UK inflation hits new 40-year high of 9.4% as cost-of-living crisis deepens

UK inflation hits new 40-year high of 9.4% as cost-of-living crisis deepens

ONS figures showed that real wages in the UK over the three months to May experienced their steepest decline since records began in 2001. Henry Nicholls | Reuters LONDON — UK inflation hit yet another new 40-year high in June as food and energy prices continued to soar, escalating the country’s historic cost-of-living crisis. The …

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