Global economic outlook has ‘darkened significantly’: IMF

The global economic outlook has “darkened significantly” and could deteriorate further, the IMF’s managing director said Wednesday, citing Russia’s war in Ukraine and the rapid inflation it has caused, threatening widespread hunger and poverty.

Lufthansa cancels another 2,000 summer flights

German national carrier Lufthansa said Wednesday it was scrapping another 2,000 flights this summer because of staff shortages, adding to a chaotic travel season as the industry attempts to bounce back from the pandemic.

US consumer prices surge to new 40-year high of 9.1%

US inflation surged to a fresh peak of 9.1 percent in June, further squeezing American families and heaping pressure on President Joe Biden, whose approval ratings have taken a battering from the relentless rise in prices.