World
The Fed has set out on a ‘recalibration’ of policy. Here’s what Powell’s new buzzword means
Federal Reserve Chair Jerome Powell has unveiled his latest buzzword to describe monetary policy, with a “recalibration” of policy at a pivotal moment for the central bank. At his news conference following Wednesday’s open market committee meeting, Powell used variations of the word no fewer than eight times as he sought to explain why the […]
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Tesla’s Chinese rival Nio cuts price for new Onvo-branded car
Chinese electric car company Nio launched its lower-cost brand Onvo on Wednesday, May 15, 2024, in Shanghai, China. CNBC | Evelyn Cheng HEFEI, China — There’s yet another Chinese electric car aiming to undercut Tesla, with a steeper discount. Onvo, the lower-priced brand launched by premium electric car company Nio, announced its first car, the […]
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‘Very serious escalation’: Lebanese ministers warn of a dangerous next 48 hours after pager and device attacks
Lebanon’s leadership warned that the risk of further violence and escalation is extremely high following two days of attacks involving exploding communications devices across the country. The next 48 hours, ministers told CNBC Thursday, will be particularly dangerous. On Tuesday and Wednesday, thousands of communications devices — including pagers and two-way radios — used by […]
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Bank of England presses pause on rate cuts, highlights ‘gradual approach’
Commuters cycles past the Bank of England (BOE), left, in the City of London, UK, on Monday, Sept. 16, 2024. The central bank’s Monetary Policy Committee’s interest rate decision is scheduled for release on Sept. 19. Bloomberg | Bloomberg | Getty Images LONDON — The Bank of England on Thursday said it would hold interest […]
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Biden’s student debt forgiveness plan to remain blocked, federal judge orders
US President Joe Biden looks on before speaking ahead of the 30th anniversary of the Violence Against Women Act on the South Lawn of the White House in Washington, DC, September 12, 2024. Andrew Caballero-Reynolds | AFP | Getty Images A federal judge has extended a temporary restraining order against the Biden administration’s latest student loan forgiveness […]
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Walkie-talkie firm probes link to 2nd wave of Lebanon blasts as Israel declares ‘new phase’ of war
The blasts that rocked Lebanon for a second day reached the doors of a walkie-talkie maker in Japan on Thursday, as Israel’s declaration of a “new phase” to the conflict raised fears of all-out war. At least 37 people, including two children, were killed and thousands more injured across Lebanon, the country’s health minister said early Thursday — a rising […]
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German media empire Axel Springer to split in deal with KKR
Passers-by walk in front of the main entrance to the Axel Springer high-rise. Carsten Koall | Picture Alliance | Getty Images German media empire Axel Springer will be split in two under a deal between CEO Mathias Doepfner and private equity firm, the company said on Thursday, securing the billionaire chief executive’s control over news […]
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One of London’s most popular arts attractions is crumbling and needs a $200 million fix
The exterior of the Hayward Gallery, part of the Southbank Centre. The brutalist-style building was designed by a team led by Norman Engleback in the late 1960s. Universal Images Group | Getty Images LONDON — From Michelle Obama to Anish Kapoor and Tracey Emin to Nina Simone, London’s Southbank Centre has featured them all, and […]
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China’s Alibaba launches over 100 new open-source AI models, releases text-to-video generation tool
The Alibaba office building is seen in Nanjing, Jiangsu province, China, Aug 28, 2024. CFOTO | Future Publishing | Getty Images Alibaba on Thursday released more than 100 open-source artificial intelligence models and boosted the capabilities of its proprietary technology as it looks to ramp up competition with rivals. The newly-released models, known as Qwen […]
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‘Fertile hunting ground’: Portfolio manager names 9 stocks to cash in on India’s growth
India is becoming a hot market for investment thanks to its booming economy, stable currency, strong stock market and growing working age population. Franklin Templeton’s Yi Ping Liao describes the South Asian country as “a fertile hunting ground to identify stocks.” “India has much more stable sort of macro environment compared to other emerging market […]
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