The British pound has fallen to its lowest level in decades against the US dollar, amid fears over runaway inflation and recession. The government has announced a drastic plan to cut taxes, claiming it will boost growth.

The Bank of England has warned that the UK economy may already be in recession, as it hikes interest rates for the seventh time to combat the spiralling pace of price rises. Inflation is still hovering nearly 40-year highs at just under 10 percent.

Data suggest that Germany may be on the brink of an economic downturn that could ultimately lead some businesses to move abroad.

The Bank of England has warned that Britain is facing a recession as it hiked its benchmark interest rate by 0.5%.

German businesses have been losing confidence in the current economic climate as growth prospects worsen. The ifo Institute that published the survey pointed to high energy prices.

Since Russia invaded Ukraine four months ago, the cost of living crisis has become a global issue. Prices have gone up around the world. In Europe, the countries that use the euro saw an average of 8.1 percent inflation in May. Pressure on prices, combined with stuttering economic growth, has sparked fears of a recession. These concerns could still come into play regarding the EU's response to the Russian invasion of Ukraine. In this programme, we're joined by two MEPs to discuss how the EU should balance sanctions against Russia with the risk of recession.

Nigeria’s economy has not been all rosy for a few years and people’s purchasing power has taken a massive hit as unemployment rates are spiking. The COVID-19 pandemic worsened the situation, plunging the economy into the second recession in less than five years. GuardianTV spoke with these women whose main income comes from driving commercial minibus 'Korope' and tricycle 'Maruwa' through the chaotic road of Lagos, Nigeria to make ends meet.

Here are a few reasons to pick up a copy of The Guardian on Wednesday⁣. Find these stories and much more when you grab a copy of The Guardian on Wednesday.⁣⁣⁣

Here are a few reasons to pick up a copy of The Guardian on Wednesday. Find these stories and much more when you grab a copy of The Guardian on Wednesday.⁣

Here are a few reasons to pick up a copy of The Guardian on Tuesday. Find these stories and much more when you grab a copy of The Guardian on Tuesday.⁣

Here are a few reasons to pick up a copy of The Guardian on Monday. Find these stories and much more when you grab a copy of The Guardian on Monday.⁣

Here are a few reasons to pick up a copy of The Guardian on Sunday. Find these stories and much more when you grab a copy of The Guardian on Sunday.⁣