Bloomberg Chancellor Olaf Scholz signature policy to boost Germany’s military prowess is struggling to get off the ground. Back in February, the 63-year-old chancellor vowed to end decades of military underfunding with a debt-financed 100 billion euro ($105 billion) defense package, dismantling the tenets on which German foreign policy long-rested since World War II. But since then Scholz has ...

Bloomberg Chancellor of the Exchequer Rishi Sunak said that extra government spending to help ease Britain’s cost-of-living crisis risks further stoking inflation, as he warned of tough months ahead for the UK economy. “We need to be careful,” Sunak said at the annual dinner of the Confederation of British Industry, speaking to hundreds of executives. “At a time of severe ...

Bloomberg Applications for US state unemployment insurance unexpectedly rose last week to the highest level since January, led by increased filings in Kentucky and California. Initial unemployment claims increased by 21,000 to 218,000 in the week ended May 14, Labour Department data shows. The median estimate in a Bloomberg survey of economists called for 200,000 initial applications. Continuing claims for ...