Federal Reserve Bank of Boston President Susan Collins said policymakers will need to be patient as they assess economic data to figure out their next steps and that further tightening may still be required, based on what the trends show.
Turkey’s President Recep Tayyip Erdogan said “tight monetary policy” was needed to slow inflation, in an apparent change in stance for a leader who’s long frustrated investors by championing ultra-low borrowing costs.
A.P. Moller-Maersk A/S lost a supreme court case in Denmark over taxable income from oil and gas facilities in Algeria and Qatar, which have since been taken over by TotalEnergies SE.
Policymakers led by Governor Tiff Macklem reiterated their willingness to hike again if needed to bring inflation back to the 2% target, saying the central bank “remains concerned about the persistence” of underlying price pressures. Evidence that excess demand is easing and the lagging effects of previous hikes drove their decision to leave rates unchanged.
Housing prices in Portugal continued to rise as demand from international buyers helps the runaway market defy pressure from higher interest rates.
China’s leading internet search provider Baidu Inc. may get a fresh tailwind from the sooner-than-expected launch of its ChatGPT-like Ernie Bot, reigniting a rally that boosted its market valuation by $23 billion from last year’s trough.
Bobby Jain is filling key roles and locking down office space around the world as he prepares for what could be one of the biggest hedge fund launches in industry history.
The architect of China’s world-leading electric-car push is convinced hydrogen vehicles will play an important role in the world’s biggest auto market.
Finland’s opposition parties are testing the confidence in the government of Prime Minister Petteri Orpo as well as two key ministers over a racism scandal that has enveloped the cabinet for the past months.
Chile’s central bank slowed the pace of its easing cycle with an interest rate cut of 75 basis points and signaled that future reductions will likely continue at that pace as inflation heads toward target.
