Fed Chair Powell Tests Positive for Covid-19, Has Mild Symptoms
Federal Reserve Board Chair Jerome Powell tested positive for Covid-19 and is experiencing mild symptoms.
Bloomberg Business
Pound Flirts With Seven-Month High as Growth Fears Hamper Dollar
The pound surged after a spate of weak US economic data spurred speculation inflation is peaking and policy makers across the world are nearing the end of their hiking cycles.
Bank of America Freezes Most Hiring to Control Costs, Guard Against Downturn
Bank of America Corp. started telling executives to pause hiring except for the most vital positions, as it tries to keep a lid on costs and prepare for a possible economic downturn.
Scholz Tells Global Elite in Davos That German Economy Is Back
German Chancellor Olaf Scholz came with an upbeat message to the World Economic Forum in Davos: Europe’s biggest economy is back, after being painfully cut off from Russian gas.
Weak US Retail Sales, Factory Data Heighten Recession Concerns
US retail sales fell by the most in a year and business equipment production slumped, raising concerns that the economy is losing momentum under the weight of tighter Federal Reserve policy.
BMO’s $16.3 Billion Bank of the West Deal Wins US Regulatory Nod
Bank of Montreal has received approval from the Federal Reserve to acquire San Francisco-based Bank of the West, a combination that will create the 15th-largest US lender.
European Parliament Head Plans Firewalls Against Corruption
The European Parliament will build “firewalls” and “ring alarm bells earlier” to prevent cases of corruption like the one involving allegations of bribes being paid to lawmakers related to Qatar and Morocco, its head said.
Apple Revives Larger HomePod Smart Speaker Priced at $299
Apple Inc. will release a new version of the original HomePod smart speaker after the company had discontinued its predecessor and replaced it with a smaller and cheaper version.
Tesla Is on Both Offense and Defense in Its First-Ever Price War
Elon Musk is willing to give up profits to keep the carmaker growing.
There’s an Upbeat Signal Buried Beneath the Stock Market’s Surface
It’s as close to a sure-thing bet as markets ever offer. When the S&P 500 falls 20% or more, a recession is close behind. But economists whose dour calls for 2023 are being informed by this signal should look deeper into last year’s rout before betting the farm on it.
