Month: September 2024
Fed’s jumbo interest rate cut puts the U.S. on track for a soft landing, Goldman CFO says
U.S. Federal Reserve Chair Jerome Powell holds a press conference in Washington, D.C., on Sept. 18, 2024. Mandel Ngan | AFP | Getty Images The Federal Reserve’s move to lower interest rates by 50 basis points puts the U.S. economy on track for a soft landing, according to Goldman Sachs‘ chief financial officer. His comments […]
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Caroline Ellison could face no jail time for role in FTX collapse
Caroline Ellison, former chief executive officer of Alameda Research LLC, center, arrives at court in New York, US, on Tuesday, Oct. 10, 2023. Yuki Iwamura | Bloomberg | Getty Images Caroline Ellison was the star witness in the criminal case against disgraced FTX founder Sam Bankman-Fried. On Tuesday, she will face her own sentencing. Ellison’s role […]
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Commerzbank board member warns of significant job losses with a hostile UniCredit takeover
Key Points Stefan Wittmann, who is also a senior official at German trade union Verdi, told CNBC’s Annette Weisbach that “we certainly hope we can avoid” a hostile takeover by the Italian bank. UniCredit believes substantial value can be unlocked within Commerzbank, Germany’s second-largest lender, but it said that further action is required for that […]
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China launches probe into Calvin Klein parent over Xinjiang supply chain ‘disruptions’
Chinese and U.S. flags flutter near The Bund, before U.S. trade delegation meet their Chinese counterparts for talks in Shanghai, China July 30, 2019. Aly Song | Reuters BEIJING — China’s Ministry of Commerce said Tuesday it was launching a probe into Calvin Klein-parent PVH Group over alleged business disruptions around its Xinjiang supply chain. […]
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Biden’s UN speech will highlight his diplomatic successes, amid wars in the Middle East, Ukraine, Sudan
U.S. President Joe Biden addresses the 78th Session of the U.N. General Assembly in New York City, U.S., September 19, 2023. Brendan Mcdermid | Reuters President Joe Biden will attempt to square the diplomatic achievements and goals of his presidency with the grim reality of wars in the Middle East, Ukraine and Sudan during a […]
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Raspberry Pi’s strong first half sends share price up 7%
A Raspberry Pi 2 Model B single-board computer. Olly Curtis | Future Publishing | Future | Getty Images Raspberry Pi, the British computer company that floated in June, reported on Tuesday stronger-than-expected adjusted earnings of $20.9 million for the first half, sending its shares up 7% in early trade. The group, which produces low-cost single-board […]
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European markets open higher despite regional growth concerns
Tourists take pictures under the rain in front of the Eiffel Tower in Paris. Lionel Bonaventure | AFP | Getty Images LONDON — European stocks are expected to open in mixed territory Tuesday as economic uncertainty and concerns over Europe’s growth outlook return to the fore. The U.K.’s FTSE index is expected to open 4 […]
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China’s auto stocks rise unfazed by U.S. proposal to ban Chinese car parts
Rows of new energy vehicles are parked at Changan Automobile’s vehicle distribution center in Chongqing, China, on January 14, 2024. Costfoto | Nurphoto | Getty Images Shares of Chinese automakers climbed Tuesday, shrugging off a U.S. government proposal to ban certain types of vehicles equipped with car parts from China and Russia, amid a broad […]
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Op-ed: The UK’s budget problems date back to the 2008 financial crisis
British Prime Minister Keir Starmer reacts as he meets with Defence Secretary John Healey and Member of the House of Lords George Robertson at 10 Downing Street on July 16, 2024 in London, England. Wpa Pool | Getty Images News | Getty Images Over the past few weeks, economic news from the U.K. has heavily […]
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These are the top 10 global talent hubs in the world — and the U.S. isn’t one of them
European countries dominated the 2024 IMD World Talent Ranking. Didier Marti | Moment | Getty Images For the eleventh consecutive year, Switzerland topped the list as the world’s most talent-competitive country, according to the IMD 2024 World Talent Ranking, signaling its strong and stable talent pool despite the rapidly changing global work landscape. The ranking […]
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