Stock markets surged worldwide after the Federal Reserve and European Central Bank both hinted that their aggressive interest-rate hiking campaigns are drawing to a close.

With inflation reshaping household budgets in 40 countries, a new OECD report documents how middle-income families are cutting back, side-hustling, and redefining prosperity.

Tesla cut prices across its entire lineup by up to 18% in key markets, reigniting the electric-vehicle price war as competition from Chinese manufacturers intensifies.