US Fed’s Powell opens door to higher, faster interest rate hikes | Business and Economy News
The United States Federal Reserve will likely need to raise interest rates more than expected in response to recent strong data and is prepared to…
US sues to stop JetBlue’s deal for Spirit, cites consumer harm | Business and Economy News
The US Department of Justice has filed a suit to stop JetBlue Airways Corp from buying Spirit Airlines Inc, saying the planned $3.8bn merger “will…
Sri Lanka raises rates, relaxes currency band to secure IMF funds | Business and Economy News
The country is awaiting approval of a $2.9bn IMF bailout package as it endures its worst financial crisis since 1948. Sri Lanka’s central bank has…
US services sector grows steadily; prices remain high | Business and Economy News
The US services sector grew at a steady clip in February, with new orders and employment rising to more than one-year highs, suggesting the economy…
US labour market continues to be strong | Business and Economy News
Labour market resilience and stubbornly high inflation have increased the odds the US Federal Reserve will continue to raise interest rates. The number of Americans…
Pakistan’s CPI soars to highest rate in nearly 50 years | Business and Economy News
Soaring food, beverage and transport costs push consumer price index to 31.5 percent in February, highest rate since 1974. Pakistan’s consumer price index (CPI) jumped…
Modi govt allowed Adani coal deals it knew were ‘Inappropriate’ | Business and Economy
New Delhi, India – The Indian government granted an extraordinary favour to controversial tycoon Gautam Adani, boosting his coal business, documents reveal. After Prime Minister…
US govt to chip makers: Share profits if you want subsidies | Business and Economy News
United States President Joe Biden’s administration has said it will require companies winning funds from its $52bn semiconductor manufacturing and research programme to share excess…
Bankman-Fried’s close associate pleads guilty to criminal charges | Business and Economy News
Nishad Singh, the former director of engineering at now-bankrupt cryptocurrency exchange FTX, has pleaded guilty to US criminal charges and agreed to cooperate with prosecutors…
Florida governor ends ‘corporate kingdom’ of Walt Disney World | Business and Economy News
Ron DeSantis removes special status from Florida’s largest private employer that had allowed it a wide berth to manage its own affairs. Florida Governor Ron…
How India allowed RP-Sanjiv Goenka firms to beat coal auctions | Business and Economy
New Delhi, India – At 11am on January 31, 2015, India’s Ministry of Coal started the online bidding for the Sarisatolli coal mine in the…
US consumer spending surges in January, inflation heats up | Business and Economy News
US consumer spending increased by the most in nearly two years in January amid a surge in wage gains, while inflation accelerated, adding to financial…
Severe dollar crisis hobbles Bangladesh businesses | Business and Economy News
Dhaka, Bangladesh – Spice trader Mohammed Enayet Ullah has made at least four attempts since November to open a letter of credit to pay for…
US revises down GDP for Q4 to 2.7% | Business and Economy News
The United States economy expanded at a 2.7 percent annual rate from October through December 2022, a solid showing despite rising interest rates and elevated…
US judge says 9/11 families not entitled to Afghan bank funds | Courts News
District judge says victims cannot seize bank’s assets since the US has not recognised the Taliban as a legitimate government. A United States judge has…
US home sales drop to more than 12-year low in January | Business and Economy News
January marked the 12th straight monthly decline in sales of existing homes, the longest such stretch since 1999. United States existing home sales dropped to…
Year of war in Ukraine left developing nations picking up pieces | Business and Economy
February 24th will mark one year since Russian tanks rolled into Ukraine in what was the start of Moscow’s full-blown invasion of its neighbour. Though…
Crypto exchange Binance pulls back on some US investments | Crypto
Binance is considering ending business relationships with banks and services firms amid heightened scrutiny. Binance has pulled back on some potential investments in the United…
US labour market remains tight, monthly producer prices rise | Business and Economy News
The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, offering more evidence of the economy’s resilience despite tighter monetary policy.…
Tesla to recall 362,000 US vehicles on full self-driving software | Business and Economy
Tesla software allows a vehicle to ‘exceed speed limits or travel through intersections in an unlawful’ manner, says the US National Highway Traffic Safety Administration.…