Hawkish former Bank of England rate-setters warned that interest rates will need to soar as high as 6% to stamp out inflation, a level the central bank has identified as painful for households and businesses.
Rishi Sunak’s election strategists can see their nightmare scenario playing out right in front of them.
When Otmar Issing became chief economist of the fledgling European Central Bank a quarter of a century ago, he was greeted with a letter from one of the project’s leading skeptics.
White House and Republican negotiators tentatively narrowed differences but were still clashing Friday on key issues as the Treasury Department signaled extra time was available before a potential US default.
China’s decision to bar Micron Technology Inc.’s memory chips has escalated tensions with the US, fueling worries over what other technology firms Beijing may target.
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon was questioned under oath by lawyers in two lawsuits in which the bank was accused of knowingly benefiting from Jeffrey Epstein’s sex-trafficking, denying any involvement with the financier’s accounts.
Surf Air Mobility Corp., an electric aviation and regional air travel company, is working with Morgan Stanley and is set to move ahead with its plans to go public through a direct listing, according to people familiar with the matter.
The spread of artificial intelligence has the potential to be “highly disruptive” to financial markets as the technology aids the publication of false information, and makes leaks of intellectual property more likely, according to analysts at UBS Group AG.
President Joe Biden said that he was hopeful negotiators on a debt ceiling agreement would know by Friday night whether they have a deal.
