This is The Economic Corner show - where we update you on all the biggest global economic announcements.
• The first and the biggest economic update for the day which has been impacting markets across the globe is the US Inflation. US inflation rose 4.2 per cent April over its level a year ago fuelling concerns that the world’s largest economy is overheating.
• The US Consumer Price Index climbed 4.2 per cent in April, the fastest annual pace since 2008. While inflation may seem normal in recovery, its persistent rise may impact the broader economy.
• The Colonial pipeline resumed operations on Wednesday after being shut due to a cyber attack.
• Next up an expert review committee by the Independent Panel for Pandemic Preparedness and Response, commissioned by the World Health Organisation, made critical statements on the Pandemic. The Panel released a report that said that a swift international response could have stopped the 2019 Covid-19 outbreak in China becoming a global catastrophe in 2020.