Breaking News: Economy
Bank of England warns of risks from rise in global trade barriers
Andrew Bailey, governor of the Bank of England (BOE), during the Monetary Policy Report news conference at the bank’s headquarters in the City of London, UK, on Thursday, Aug. 1, 2024. Bloomberg | Bloomberg | Getty Images The Bank of England warned on Friday that higher trade barriers could hit global growth and feed uncertainty […]
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Mexico warns Trump tariffs would kill 400,000 U.S. jobs, threatens retaliation
Mexican President Claudia Sheinbaum speaks after reading a letter to be sent to U.S. President-elect Donald Trump, warning that tariffs would cause inflation and job losses in both countries, at National Palace in Mexico City, Mexico, November 26, 2024. Presidencia De Mexico | Via Reuters Mexican President Claudia Sheinbaum said on Wednesday Mexico would retaliate […]
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Thanksgiving travel snarled by coast-to-coast storm bringing rain and snow
People enter LaGuardia Airport (LGA) on one of the busiest travel days of the year on November 26, 2024 in New York City. Spencer Platt | Getty Images With Thanksgiving holiday travel well underway, many have reached their destinations — but for everyone else, a storm tracking from the Rockies to the Midwest and Northeast […]
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These economists say artificial intelligence can narrow U.S. deficits by improving health care
Can artificial intelligence be so transformative as to solve one of the U.S. economy’s biggest problems: its skyrocketing fiscal deficit? According to three economists at the Brookings Institution, the answer is yes — AI could prove a positive “critical shock” for the country’s fiscal health. A working paper released last month by the Center on […]
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OPEC+ postpones meeting to decide oil production strategy to Dec. 5, delegates say
A view shows the logo of Organization of the Petroleum Exporting Countries (OPEC) during the United Nations climate change conference COP29, in Baku, Azerbaijan November 13, 2024. Maxim Shemetov | Reuters The OPEC+ oil alliance has postponed a meeting to decide the next steps of its crude production strategy to Dec. 5, two delegate sources […]
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Fed’s preferred inflation gauge rises to 2.3% annually, meeting expectations
Inflation edged higher in October as the Federal Reserve is looking for clues on how much it should lower interest rates, the Commerce Department reported Wednesday. The personal consumption expenditures price index, a broad measure that the Fed prefers as its inflation gauge, increased 0.2% on the month and showed a 12-month inflation rate of […]
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The shipping industry is wrestling with one of its biggest challenges — seafarer shortages
Containers near a berthed cargo vessel at a terminal in the southeastern port city of Busan on Nov. 24, 2024. Anthony Wallace | Afp | Getty Images The shipping industry is contending with a worldwide shortage of seafarers, and it’s fueling a troubling mix of fake resumes, accidents at sea, and elevated freight rates. “We […]
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Stocks making the biggest moves after hours: Dell Technologies, Autodesk, Workday and more
Check out the companies making headlines in after-hours trading. Ambarella – Shares of the semiconductor design company soared 20% on the back of a rosy outlook. Ambarella is calling for fourth-quarter revenue of $76 million to $80 million, while analysts polled by LSEG anticipated $69 million. Third-quarter adjusted earnings and revenue also topped the Street’s […]
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Fed officials see interest rate cuts ahead, but only ‘gradually,’ meeting minutes show
Federal Reserve officials expressed confidence that inflation is easing and the labor market is strong, allowing for further interest rate cuts albeit at a gradual pace, according to minutes from the November meeting released Tuesday. The meeting summary contained multiple statements indicating that officials are comfortable with the pace of inflation, even though by most […]
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Databricks closes in on multibillion funding round at $55 billion valuation to help employees cash out
Ali Ghodsi, co-founder and chief executive officer of Databricks Inc., speaks during a Bloomberg Technology television interview in San Francisco on Oct. 22, 2019. David Paul Morris | Bloomberg | Getty Images One of the world’s most valuable private tech companies is raising billions more in cash and is in no rush to go public, […]
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