Top News

Fed to take rates higher than previously expected; more pain ahead

Reuters | September 28, 2022

By Indradip Ghosh BENGALURU (Reuters) -The Federal Reserve will hike its key interest rate to a much higher peak than predicted two weeks ago and the risks are skewed towards an even higher terminal rate, according to economists polled by Reuters. That change in expectations came after the Fed raised rates by 75 basis points […]

Wall St slumps as investors fret on rate hikes and recession

Reuters | September 23, 2022

By David French (Reuters) – Wall Street’s main indexes slumped to close well down on Friday, as rattled investors continued repositioning themselves to reflect fears the U.S. Federal Reserve’s hawkish rate policy to curb inflation will push the American economy into recession. The Dow narrowly avoided ending more than 20% lower than its Jan. 4 […]

TikTok to verify political accounts in U.S., ban campaign fundraising

Reuters | September 21, 2022

By Sheila Dang (Reuters) – TikTok will begin requiring accounts belonging to U.S. government departments, politicians and political parties to be verified and will ban videos aimed at campaign fundraising, the short-form video app said on Wednesday. The move comes as TikTok, owned by China’s ByteDance, and other social media platforms are working to clamp […]

Industry says EU plan to tackle energy crisis falls short

Reuters | September 16, 2022

By Kate Abnett BRUSSELS (Reuters) -Industry groups have warned the European Union’s package of emergency measures to bring down energy costs does not go far enough, and they urge Brussels to do more to tame gas prices. The European Commission on Wednesday proposed cuts in electricity use and applying windfall-profit levies on energy firms, which […]

U.S. import prices fall for second straight month in August

Reuters | September 15, 2022

WASHINGTON (Reuters) – U.S. import prices fell for a second straight month in August, weighed down by declining costs for petroleum products and a strong dollar, which overtime could help to lower inflation. Import prices dropped 1.0% last month after declining 1.5% in July, the Labor Department said on Thursday. In the 12 months through […]

Stocks struggle, oil down, on rate and recession fears

Reuters | August 31, 2022

By Huw Jones and Koh Gui Qing NEW YORK (Reuters) – World stocks fell again on Wednesday, as expectations that central banks on both sides of the Atlantic will likely raise borrowing costs again next month soured sentiment and stoked recession fears, which dragged oil prices below $90 a barrel. Wall Street struggled to hang […]