The Bank of England held its interest rate at 5.25%, its highest in 16 years, amidst economic uncertainty and political pressure. Despite inflation nearing the 2% target, BoE Governor Andrew Bailey emphasized the need for stability before cutting rates. Market reactions anticipate future rate cut...
WestJet Airlines preemptively cancels 40 flights, impacting 6,500 passengers due to an imminent strike by 681 technical operations staff. With critical maintenance engineers set to strike, WestJet seeks resolution from the Canadian Industrial Relations Board to avert major disruptions.
London’s stock market saw modest gains on Monday, with the FTSE 100 and FTSE 250 both rising 0.2% amidst anticipation of crucial economic reports. Key events include the consumer price index release and the Bank of England’s policy meeting. Notable stock movements: SSP Group fell 2.8%, while King...
Germany's inflation rate rose to 2.8% in May, driven by a 3.9% surge in service costs, up from 2.4% in April. Core inflation remained steady at 3.0%. Energy prices fell by 1.1%, while food prices saw a modest 0.6% increase. The ECB continues to track inflation closely.
Recent studies reveal that Gen Z workers are the toughest to manage, even for their peers in managerial roles. Despite complaints about their work habits, companies prefer hiring millennials but continue to recruit Gen Z for their unique personality
Russia’s strategic consolidation of its grain market has amplified its control over global wheat supplies, escalating wheat prices. Following the exit of major Western agribusinesses, state-favored firms dominate 75% of exports, complicating data transparency and influencing food inflation.
OPEC+ moves its output policy meeting to June 2, opting for an online format, while maintaining significant production cuts amid global demand concerns.
Google will invest €1 billion in its Finland data center to boost AI growth, leveraging the region's renewable energy. Net zero emissions by 2030 planned.
Asian stocks rally after US equities hit record highs, bolstered by strong corporate earnings and China's property market support. Investors eye key economic data and policy decisions this week.
European stocks decline amid fluctuating Federal Reserve rate expectations, leading to a pullback from riskier assets. Traders remain cautious as they await more data on inflation and economic growth.
China introduces an aggressive rescue package to rejuvenate its property sector, including relaxed mortgage rules and significant funding for local governments to purchase unsold homes. The initiative aims to stabilize the housing market and bolster economic growth.
China has sold a record $53.3 billion of US Treasuries and agency bonds in the first quarter, signaling a strategic diversification away from American assets amidst ongoing trade tensions.
In a bold move, Brazil's President Lula has dismissed Petrobras CEO Jean Paul Prates following a dividend payment controversy, causing the company's shares to drop over 6%. Magda Chambriard is set to take the helm, signaling potential shifts in company strategy and governance.
Steward Health Care System, the largest physician-owned hospital operator in the U.S., has filed for chapter 11 bankruptcy due to escalating financial difficulties, securing a $300 million bankruptcy loan to maintain operations across its 30 hospitals.
The U.S. Senate has advanced a bill requiring TikTok's parent company, ByteDance, to divest its stake or face a ban, aiming to address national security concerns.
A Russian court has seized JPMorgan Chase funds as VTB seeks to recover $439.5 million blocked due to sanctions. The legal battle intensifies with cases in both Russian and U.S. courts.
Despite recent rebounds, JPMorgan cautions that the stock market may face additional declines, driven by enduring inflation, high equity valuations, and shifting expectations regarding Federal Reserve rate cuts.
TikTok's parent company, ByteDance, faces impending legislation that could force it to divest its stake in the popular social media platform or face a ban in the U.S.
Federal Reserve Chairman Jerome Powell's recent comments suggest that high inflation may delay any anticipated cuts in interest rates, complicating the housing market further for prospective homebuyers as mortgage rates climb above 7%.
Apple Inc. has removed several major social media applications, including WhatsApp and Threads by Meta Platforms Inc., from its Chinese app store in compliance with directives from the Chinese government, citing national security concerns.
Growing optimism among investors suggests the US economy might avoid both recession and aggressive slowdown, trending towards a 'no landing' scenario despite persistent inflation challenges.
Federal Reserve Chair Jerome Powell indicates that reducing inflation to the Fed's 2% target may take longer than anticipated, suggesting that interest rate cuts could also be delayed.
Amid ongoing inflation concerns, investors are recalibrating their expectations for Federal Reserve rate cuts, with new predictions pointing to a potential first cut in September.
