Inflation fight can avoid deep pain, Atlanta Fed president says

Federal reserve president said he still believes the central bank can tame inflation without substantial job losses given the economy's continued momentum. If we have job losses it will be smaller than in past slowdowns, he said on CBS's Face the Nation program. Bostic also said, we need to have a slowdown.
#Bostic #AtlantaFed #FacetheNation #News #Business #Economy

36 minutes ago

UK's Kwarteng says he is focused on growth, not market moves

Finance minister says he's focused on boosting longer-term growth, not on short-term market moves. He scrapped the country's top rate of income tax and cancelled a planned rise in corporate taxes. Government bonds recorded sharpest daily sell-off in decades.
#Kwarteng #Reuters #News #Business #Markets

6 hours ago

Pfizer CEO tests positive for COVID for a second time

Chief executive of Pfizer said on Saturday he tested positive for COVID-19. He had started a course of the company's oral antiviral treatment, Paxlovid. The new so-called bivalent shots aim to tackle the dominant BA.5 and BA.4 subvariants.
#Pfizer #Pax #News #Health #Healthcare

19 hours ago

Wall St tumbles as investors fret on rate hikes and recession

Wall Street's main indexes all tumbled to close well down on friday. The Dow (.DJI)narrowly avoided ending more than 20% lower than its Jan. 4 record all-time closing peak of 36,799.64 points, meaning the blue-chip index did not attain a bear market label.
#Reuters #Dow #WallStreet #News #Business #Economy


'Blood on your hands' if world steps back on tackling COVID now, WHO official says

If rich nations think the pandemic is over, they should help lower-income countries reach that point too, a senior world health organization official told Reuters. In an interview, WHO senior adviser Bruce Aylward warned richer nations must not step back from tackling COVID-19 as a global problem now, ahead of potential waves of infection.
#BruceAylward #Reuters #COVID #News #Health #Healthcare

2 days ago

Laver Cup match briefly halted after protester sets arm on fire on court

A protestor lights a fire on the court during the match between Stefanos Tsitsipas and Diego Schwartzman. The protestor was a member of the End UK Private Jets group which claims carbon emissions in 2022 are genocide.
#StefanosTsitsipas #EndUKPrivateJets #LaverCup #News #Sports #Tennis

2 days ago

Explainer: When EU embargo comes, where will Russia sell its crude oil?

Russia exports around 20 million tonnes of crude per month - roughly five million barrels per day - via several routes. In august, Russia's total exports via European ports and the Druzhba pipeline amounted to 12.05 million tonnes - of which around 5.5 million tonnes (1.3 million bpd) were shipped to countries that will stop importing Russian oil from Dec. 5. The united states and europe are also working on a price cap for Russian oil.
#Reuters #European #Russian #Russia #News #Business #Economy

2 days ago

India’s Russian Coal Imports Set To Stutter

India’s imports of Russian thermal coal look set to fall for the first time in four months. A second consultancy, DBX Commodities, told Reuters that Indian shipments of power generation fuel should drop from 1.9 million tonnes in August to 1.5 million tons in September.
#DBXCommodities #Russian #Indian #India #News #Business #Economy

2 days ago

France sets minimum delivery fee for online book sales to help independent stores compete

French lawmakers voted to impose a minimum delivery fee of 3 euros ($2.93) for online book orders of less than 35 euros to level the playing field for independent bookstores struggling to compete against e-commerce giants. A 2014 law already prohibits free book deliveries, but local book stores typically charge up to 7 euros for shipping a book.
#Reuters #French #France #News #Entertainment #Books

2 days ago

Stocks hit 2-year low as central banks step up the war on inflation

The yen was last steady at 142.29 per dollar and on course for its best week in more than a month, but few believe this strength will last. The euro fell for a fourth straight day after data showed the downturn in the german economy has worsened.
#Reuters #erman #News #Business #Markets

2 days ago

INDIA STOCKS Indian shares fall as banks, financials drag

Indian shares dropped on friday as investors kept off risky assets on global economic growth concerns. Financial stocks slid after the central bank barred Mahindra Group's financial services arm from using third-party agents to recover loans.
#INDIA #Indian #News #Business #Markets

2 days ago

One million still without power in Puerto Rico after Fiona

An estimated 1 million homes and businesses remain without power in Puerto Rico after hurricane fiona hit on Sunday. 1.033 million customers were without service early Thursday based on limited information available from LUMA Energy, which operates the grid.
#LUMAEnergy #Fiona #PuertoRico #News #Science #Enviornment

2 days ago

Wild horses face unruly storms as Fiona nears Canada's east coast

Wild horses grazing freely on the sandy grasslands of the crescent-shaped Sable Island in the north Atlantic are expected to come under the swipe of a powerful storm forecast to hit eastern Canada this weekend. The horses are not indigenous to the sandbar and are believed to have been brought by European sailors in the 18th century.
#Fiona #Reuters #European #SableIsland #News #Science #Enviornment

2 days ago

Japan intervenes in FX market to stem yen falls after BOJ keeps super-low rates

The move sent the dollar plunging over 2% to around 141.15 yen. The currency has depreciated nearly 20% this year, sinking to 24-year lows. There's no change to our stance of maintaining easy monetary policy for the time being.
#BOJ #Japan #News #Business #Economy

3 days ago

Dollar towering, stocks cowering as Fed flags more hikes

The dollar surged to a fresh two-decade high and Asian stocks hit a two-year low on Thursday. The median of the Fed officials' outlook, which has U.S. Rates at 4.4% by year's end and staying high in 2023, seemed to spook even hawkishly positioned rates and currency markets.
#Fed #Asian #News #Business #Economy

3 days ago

Fed forecasts show fraying faith in soft landing

The rate hikes are the sharpest since the last time the Fed battled super-high inflation in the 1980s. But even the most hawkish Fed policymaker today sees rates rising only to 4.9% next year, the projections show. By the end of 2024 policymakers see inflation at 2.3%, and easing to 2.4% in the final quarter of 2023.
#Fed #News #Business #Markets

3 days ago

India expects at least $25 bln investment under semiconductor incentive scheme

India is expecting to court a total investment of at least $25 billion as a result of its incentive scheme. The government raised fiscal support for new semiconductor facilities to cover 50% of project costs. It said it will remove a ceiling for maximum permitted investment to enable incentives for display manufacturing.
#Reuters #India #News #Business #Economy

4 days ago

India considering exporting some stuck rice cargoes

India is considering allowing the overseas shipment of some rice cargoes stuck at ports. The world's biggest exporter of the grain imposed restrictions earlier this month. India banned exports of broken rice and imposed a 20% duty on various other export types.
#Reuters #India #News #Business #Economy

4 days ago

Markets slip as Russia mobilization compounds US Fed rate worries

The Nifty 50 index ended 0.55% lower at 17,718.35, while the S&P BSE Sensex slipped 0.44% to 59,456.78. Investors fled risky assets after Vladimir Putin ordered a partial mobilisation of Russia's military reserves and accused the West of nuclear blackmail. Reuters reported that India's government was in no hurry to tamp down inflation back to the central bank's 4% medium-term target.
#VladimirPutin #USFed #Nifty50 #Russia #News #Business #Markets

4 days ago

INDIA STOCKS Indian shares slip as Russia mobilisation compounds Fed rate worries

India's government is in no hurry to tamp down inflation back to the central bank's 4% medium-term target. The.nIfty metal index (.NIFTYMET) was the worst performer among sub-indexes, dropping 2.1% in its worst day in a month. A rise in oil prices could prove costly for the world's third-largest importer of oil.
#INDIA #Indian #India #News #Business #Markets

4 days ago