Gold logs biggest weekly fall

Gold prices dropped on Friday, logging their steepest weekly decline in over five months, pressured by a stronger dollar and as markets absorbed the implications of Donald Trump’s victory and its potential impact on US interest rate expectations.
9 November 2024, 18:00 PM

Fed makes quarter point cut as Powell insists he would not quit

The US Federal Reserve shrugged off concerns about the economic impact of Donald Trump’s election victory and moved ahead with a quarter point cut Thursday.
9 November 2024, 18:00 PM

Dollar rebounds after weak jobs data; traders eye US election

The dollar rose against the euro and rebounded against most major currencies on Friday after traders digested data showing US job growth slowed sharply in October amid disruptions from hurricanes and strike action by aerospace factory workers.
2 November 2024, 18:00 PM

Asia’s factory activity stagnates, taking shine off rebound in China

Asia’s manufacturing activity stagnated in October as a rebound in China failed to give much of a boost to regional factories, private surveys showed, a discouraging sign for policymakers bracing for a potential escalation of US-China trade tensions.
2 November 2024, 18:00 PM

US election: What is at stake for Bangladesh’s exports

As millions of Americans head to the polls on November 5 to vote for either Democratic Vice President Kamala Harris or her Republican rival Donald Trump, apparel business communities in Bangladesh, more than 13,119 kilometres away from Washington, will be watching the results of the presidential election closely.
2 November 2024, 18:00 PM

US consumer mood brightens, among Republicans in particular

US consumer sentiment climbed to a six-month high in October as declining interest rates helped improve buying conditions for big-ticket items like cars, but the uptick was most pronounced among Republicans who grew more confident in their party regaining the White House in the Nov. 5 presidential election.
26 October 2024, 18:00 PM

HSBC merges commercial, investment banking units

HSBC Holdings said on Tuesday it would combine some of its commercial and investment banking operations in a major overhaul under new CEO Georges Elhedery, which will see it cut costs while trying to improve returns.
22 October 2024, 18:00 PM

As poor nations' default wave peaks, cash shortage could take its place

The issue, and what to do about it when western countries are increasingly loath to send money overseas, is a key topic at the IMF World Bank autumn meetings taking place in Washington, D.C. this week.
21 October 2024, 04:08 AM

China posts slowest growth in over a year

China posted its slowest growth in a year and a half on Friday, underlining the deep economic woes the country faces as its central bank launched a new bid to boost markets and hinted at a further rate cut in coming months.
19 October 2024, 18:00 PM

A key to Citi's regulatory woes: staff need skills 'enhancement'

Citi’s analysis, a portion of which was seen by Reuters and has not been previously reported, shows the bank has been grappling with a shortage of skilled personnel, finding at times that it did not have the right training and assessment tools to fix its regulatory challenges.
15 October 2024, 06:25 AM

IMF says global public debt to top $100 trillion, growth may accelerate

Released a week before the IMF and World Bank hold annual meetings in Washington, the Fiscal Monitor said there are good reasons to believe future debt levels could be well higher than currently projected, including a desire to spend more in the US, the world's largest economy.
15 October 2024, 04:02 AM

China’s car sales snap five-month decline on subsidy boost

China’s passenger vehicle sales rose 4.3 percent in September from a year earlier, snapping five months of decline with a boost from a government subsidy to encourage trade-ins as part of a broader stimulus package.
13 October 2024, 18:00 PM

Vietnam, China sign 10 deals on economic cooperation

Vietnam and China signed 10 agreements on Sunday, including on expanding cross-border railway links, payments and economic cooperation.
13 October 2024, 18:00 PM

China tees up fresh spending to boost ailing economy

China said Saturday it would issue special bonds to help its sputtering economy, signalling a spending spree to bolster banks, shore up the property market and ease local government debt as part of one of its biggest support packages in years.
12 October 2024, 18:00 PM

India’s 100 richest tycoons surpass $1tn milestone

The collective wealth of India’s 100 richest tycoons surpassed the trillion dollar milestone for the first time as more than 80 per cent of the country’s richest tycoons are now wealthier than they were a year ago, a Forbes report showed on Thursday.
12 October 2024, 18:00 PM

Oil settles down

Oil prices settled lower on Friday but rose for the second straight week as investors weighed factors such as possible supply disruptions in the Middle East and Hurricane Milton’s impact on fuel demand in Florida.
12 October 2024, 18:00 PM

Boeing to cut 10% of workforce as it sees big Q3 loss

Boeing announced that it plans to cut 10 percent of its workforce as it projected a large third-quarter loss amid a machinist strike in the Seattle region.
12 October 2024, 18:00 PM

US consumer inflation eases to 2.4% in September

US consumer inflation cooled last month -- though slightly less than expected -- according to government data published Thursday, providing further evidence that price pressures are easing ahead of November’s presidential election.
12 October 2024, 18:00 PM

EU chief says China must ‘adapt its behaviour’ to solve trade row

China must “adapt its behaviour” to solve an escalating tariff row with Europe, EU chief Charles Michel told AFP Friday, warning of the dangers of the dispute escalating into a full-blown trade war.
12 October 2024, 18:00 PM

Russian inflation slows in Sept but still elevated

Inflation ticked lower in Russia in September but was still more than double the central bank’s target, as huge spending on the Ukraine conflict kept upward pressure on prices, official data showed Friday.
12 October 2024, 18:00 PM