At the top of the Wall Street Journal, “U.S. and European economies slow sharply and recession risks mount.”
The news is based on June surveys of US and European companies in the industrial and service sectors, which “underline how bleak the outlook has turned” on both sides of the North Atlantic.
The Financial Times, with the same figures as S&P Global, focuses on the “recession risk” coming to Europe — and the immediate effects of the data on the falling European stock market.
In the headline of Italian financier Il Sole 24 Ore, “For the markets, it’s already a recession.”
ENDED
On Bloomberg, “The era of central bank credibility is over”, with photos of the presidents of the European and American central banks (above). “Inflation mistakes have destroyed the confidence that anchored the global financial system since the end of the gold standard,” says the US economic news service.
TWO-EDGED SANCTIONS
Chinese outlets, including the financial service Caixin, highlighted from the BRICS summit leader Xi Jinping’s criticism of the transformation of sanctions, by the US and Europe, into a “double-edged sword” that affects the entire global economy and “makes people around the world suffer”.
IMPORTANT ROLE
Indians such as the Times Now channel and the Economic Times pointed out that the leader Narendra Modi defended at the summit that “today, when the world is focusing on the post-Covid economic recovery, the role of the BRICS countries will be very important”, resuming the role of “global growth engines” that gave rise to the group.
BACK TO STAGE
In the US, CNN, Business Insider and WSJ, on the summit, prioritized Russia, with the so-called “Putin is back on the world stage”, “Putin meets with leaders from China, Brazil and India, showing that Russia still has allies Powers” and “Putin’s Highest-Level Gathering Displays Challenge to US-led Ostracism Efforts”.
