The Bank of England has raised interest rates from 1.75% to 2.25% - the highest level for 14 years - and warned the UK may already be in a recession.
Forecasts for global trade to slow down as supply chains reposition through nearshoring and reshoring of manufacturing operations is not happening, according to a new report by DHL Express and the NYU Stern School of Business.
Ocean carriers continue to cite congestion at U.S. and Canadian ports as the reason for canceling sailings in September, a cut in vessel service that has been flagged in previous CNBC reporting
Shares in Asia have fallen after the chairman of the US central bank said it would continue to raise interest rates to tackle soaring prices.
The national carriers of Australia and New Zealand say that the worst of the coronavirus crisis is now behind them, even as they posted annual losses for a third year in a row.
The U.S dollar climbed to a 20-year high against other major currencies on Monday after Federal Reserve Chair Jerome Powell signalled interest rates would be kept higher for longer to bring down soaring inflation.
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