Text size Federal President Jerome Powell is more optimistic about the economy than many others in the private sector. Anna Moneymaker/Getty Images Inflation remains more than double the Federal Reserve’s target, the financial sector is reeling from a trio of bank failures and calls from economists for an impending slowdown grow louder by the day. … Read more
The Federal Reserve on Wednesday approved its 10th interest rate hike in just over a year and hinted that the current tightening cycle is coming to an end. In a unanimous decision widely expected by markets, the central bank’s Federal Open Market Committee raised its benchmark borrowing rate by 0.25 percentage points. The rate sets … Read more
Text size Meta, Facebook’s parent company, posted a better-than-expected quarterly profit. Josh Edelson/Getty Images One of the big stories in the markets this year has been the surge in tech stocks. This has mostly been true for the stocks of the biggest tech companies, not the smaller ones. Metaplatforms (symbol: META), Microsoft (MSFT), Alphabet (GOOGL), … Read more
A Call of Duty: Modern Warfare video game from Activision Blizzard is inserted into Microsoft’s Xbox One video game console installed in Denver, Colorado, Wednesday, January 19, 2022. Michel Ciaglo | Bloomberg | Getty Images LONDON – Britain’s main competition regulator decided on Wednesday to block Microsoftthe acquisition of a video game publisher by ActivisionBlizzard. … Read more
A house in Lynch, Kentucky. Scott Olson | Getty Images The banking turmoil in March, which saw the collapse of several U.S. regional lenders, will lead to a credit crunch for “small town America”, according to veteran strategist David Roche. THE Silicon Valley Bank collapse And two other small U.S. lenders last month sparked contagion … Read more
BYD’s new luxury brand, Yangwang, is selling its first model, the U8, for more than one million yuan ($160,000). CNBC | Evelyn Cheng SHANGHAI – Fully autonomous driving is “fundamentally impossible” and the technology would be better applied to manufacturing, according to a Chinese battery and electric car company BYD. Many electric car and tech … Read more