The newly appointed president of the World Bank said he doesn’t view China as a rival for the development lender and pledged to avoid getting dragged into competition between Washington and Beijing.
Tesla Inc. shares snapped their record-setting 13-day winning streak Wednesday, as a hawkish stance from the Federal Reserve and market technicals took some steam off the rally.
Citigroup Inc. Chief Financial Officer Mark Mason said the firm’s recent job cuts will cause expenses to climb by as much as $400 million this quarter compared with the first three months of the year.
“Skip” may be all the rage at the US central bank and on bond-trading floors across Wall Street, but Federal Reserve Chair Jerome Powell is not a fan.
Representative Adam Schiff, whose probes of Donald Trump led to the former president’s first impeachment, repulsed an effort by hard-line Republicans to fine him $16 million for alleged investigative abuses and slap him with a formal rebuke.
A measure of perceived risk in corporate credit markets increased Wednesday after the Federal Reserve paused its string of interest-rate hikes, but indicated more monetary tightening may still come to help tame inflation.
Nigeria’s central bank allowed the naira to slump to a record low as officials look set to phase out currency controls that have distorted Africa’s biggest economy for years.
SoFi Technologies Inc. advanced for a ninth straight day, as optimism over plans to restart student loan payments has yielded a record run of gains.
Bond traders are near wiping out bets that the Federal Reserve will lower interest rates this year after the central bank held its key rates steady and signaled more monetary tightening would likely be necessary to cool inflation.
Russia is ramping up a lobbying campaign to avoid new financial restrictions against money-laundering that may plunge its economy deeper into isolation over the war in Ukraine.
