World
Bank of England’s Bailey: ‘More restrictive policy’ could still be needed due to labor market shocks
Andrew Bailey, governor of the Bank of England, waits to deliver a lecture at the London School of Economics in London, UK, on Tuesday, May 21, 2024. Bloomberg | Bloomberg | Getty Images Bank of England Governor Andrew Bailey will hail the progress made in dampening inflation in the U.K. in a Friday speech, but […]
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Fed Chair Powell indicates interest rate cuts ahead: ‘The time has come for policy to adjust’
Federal Reserve Chair Jerome Powell laid the groundwork Friday for interest rate cuts ahead, though he declined to provide exact indications on timing or extent. “The time has come for policy to adjust,” the central bank leader said in his much-awaited keynote address at the Fed’s annual retreat in Jackson Hole, Wyoming. “The direction of […]
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Body of final person missing from sunken superyacht found off Sicily
Divers of the Vigili del Fuoco, the Italian Corps. of Firefighters leave Porticello harbor near Palermo, to resume research for a last missing person on August 23, 2024, four days after the British-flagged luxury yacht Bayesian sank. Alberto Pizzoli | Afp | Getty Images Divers on Friday found the body of the final person missing […]
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European markets higher ahead of Powell speech; Nestle down 1.65%
LONDON — European stocks were higher Friday as investors looked ahead to U.S. Federal Reserve Chair Jerome Powell’s speech later in the session from Jackson Hole, Wyoming. The Stoxx 600 index was up 0.26% by 1:23 p.m. London time, with all major bourses and the majority of sectors trading in the green. Utilities stocks rose 0.81%, while tech […]
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Stock futures rise with all eyes on Powell’s key Jackson Hole speech: Live updates
Traders on the floor of the New York Stock Exchange on Aug. 4, 2022. Source: NYSE Stock futures rose Friday as traders await an all-important policy speech from Fed Chair Jerome Powell for any guidance on future rate cuts. Futures on the Dow Jones Industrial Average gained 157 points, or 0.4%. S&P 500 and Nasdaq-100 […]
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Why these Japanese companies want to make hydrogen on the moon
Two Japanese companies have teamed up to achieve one big goal: producing hydrogen on the moon. Takasago Thermal Engineering has designed a mini electrolyzer that can adapt to low gravity and endure a rocket’s intense vibrations during liftoff. Once in space, the hydrogen-making machine will be operated remotely from ispace’s Mission Control Center in Tokyo. […]
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Canada moves to end rail shutdown quickly; CN workers to return to work Friday
Workers at Canadian National Railway will begin returning to work on Friday, the Teamsters union said, hours after the Canadian government moved to end an unprecedented rail stoppage. The union said the work stoppage at Canadian Pacific Kansas City would continue pending an order from the Canadian Industrial Relations Board (CIRB). The union and company […]
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Nestle CEO departure seen as ‘not such a bad thing’ for investors, analyst says
Swiss food giant Nestle’s headquarters in Vevey, Switzerland. Fabrice Coffrini | Afp | Getty Images LONDON — Investors may think that the replacement of Nestle CEO Mark Schneider with company veteran Laurent Freixe is “not such a bad thing,” analyst Jon Cox said Friday. Cox, who is head of consumer equities at Kepler Cheuvreux, told […]
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World’s second-largest diamond discovered in Botswana
Botswana’s President Mokgweetsi Masisi holds a large diamond discovered in Botswana at his office in Gaborone on August 22, 2024. Monirul Bhuiyan | Afp | Getty Images One of the largest diamonds ever to be excavated was found in Botswana at a mine owned by Canadian firm Lucara Diamond. The 2,492-carat diamond is the world’s […]
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No longer a financial reservoir? Saudi Arabia’s spending confirms clear shift in strategy
Riyadh, Saudi Arabia. Xavierarnau | E+ | Getty Images Saudi Arabia is moving full steam ahead with its focus on domestic investment — and with that, higher requirements for foreigners coming to the kingdom to take capital elsewhere. The kingdom’s $925 billion sovereign wealth fund, the Public Investment Fund, saw its assets jump 29% to […]
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