Bloomberg Business

Vietnam Says Builder Bilked 42,000 Investors of $1.2 Billion

Vietnam police are seeking assistance from investors in an ongoing investigation into real estate firm Van Thinh Phat Holdings Group that allegedly defrauded and appropriated more than 30 trillion dong ($1.2 billion), according to a statement on the government’s website.

Fed’s Mester Says One More Rate Hike May Be Needed This Year

Federal Reserve Bank of Cleveland President Loretta Mester said the US central bank will likely need to raise rates once more this year and then hold them at higher levels for some time to get inflation back to its 2% target.

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