The United States and Russia are lowering expectations for big breakthroughs at a superpower summit between U.S. President Joe Biden and Russian President Vladimir Putin, with the adversaries in no mood to make concessions on their bitter disagreements.The summit details – location, time and agenda – are still being negotiated by the two sides with…
A bigger-than-expected increase in U.S. consumer prices has put investors on high alert for more signs of inflationary pressure that could tilt the Federal Reserve toward raising interest rates.Several investors said the consumer price index report released on Wednesday was not enough to prompt the Fed to change its course. But the news, which fueled…
Asian shares faced a third day of losses on Thursday after a shocking rise in U.S. inflation bludgeoned Wall Street and sent bond yields surging on worries the Federal Reserve might have to move early on tightening.”Higher inflation is a definite negative for equities, given the likely rates response,” said Deutsche Bank macro strategist Alan…
Prime Minister Boris Johnson on Wednesday apologised “unreservedly” on behalf of the British government for the deaths of 10 innocent people killed in a 1971 incident in Belfast during a British Army operation.A judge-led inquiry on Tuesday found that British soldiers unjustifiably shot or used disproportionate force in the deaths of nine of the 10…
The Senate Commerce Committee approved Lina Khan’s nomination to the U.S. Federal Trade Commission in a voice vote on Wednesday, setting the stage for an advocate of breaking up tech giants like Google (GOOGL.O) to join the agency.Khan, a veteran of the FTC and Capitol Hill who teaches at Columbia Law School, is highly respected…
Shares of Global-e Online Ltd (GLBE.O) rose as much as 1% in their Nasdaq debut on Wednesday, giving the cross-border e-commerce platform a market capitalization of nearly $3.6 billion.The Israel-based company’s stock opened at $24.25, down from the initial public offering (IPO) price of $25 per share, but later recovered to trade higher.Launched in 2013,…
Strong domestic demand will keep U.S. stockpiles of corn and soybeans near seven-year lows even after farmers harvest the crops they are currently seeding, the government said on Wednesday.
Investors counting on the Bank of Japan to put a floor under stock prices may be disappointed as the current rout likely falls short of new thresholds set in March for its exchange-traded fund (ETF) buying, findings unveiled by the central bank show. As part of efforts to make its massive stimulus sustainable, the BOJ…
Rwanda’s economy is expected to grow 5.1% this year after contracting 3.4% in 2020 as a result of the COVID-19 pandemic, a senior finance ministry official said on Wednesday. Tushabe Richard, minister of state in charge of the National Treasury, said growth would accelerate to 7.0% in 2022 then to an average of 7.8% across…
Iran’s hardline former president Mahmoud Ahmadinejad on Wednesday registered to run again in an election in June which is being seen as a test of the legitimacy of the country’s clerical rulers.Vilified in the West for his questioning of the Holocaust, Ahmadinejad had to step down in 2013 because of term limit rules, when incumbent…
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