LONDON (Reuters) – Bank of England rate-setters who may be tempted to vote next week for an early end to their COVID-19 stimulus plans are likely to hold off for now, with a slowing economy but surging inflation making for a tricky backdrop.FILE PHOTO: People walk past the Bank of England during morning rush hour, […]
The Federal Reserve is poised to overhaul the rules around what its officials are allowed to invest in and trade after disclosures last week showed that two of the central bank’s officials had been active in markets in 2020, drawing outcry. Robert S. Kaplan, the president of the Federal Reserve Bank of Dallas, and Eric […]
SINGAPORE – Households are becoming all too aware that electricity has got pricier in recent months and it is looking increasingly likely that these higher charges will be the norm for quite some time. Industry players and observers point to rising energy costs and price spikes in the wholesale market as key factors driving electricity retailers […]
Canadian Pacific has emerged as the winner in a long-running battle to acquire Kansas City Southern, putting it in position to become the first railroad operator whose network extends from Canada to Mexico. Its rival in the bidding, Canadian National, said on Wednesday that it had received notice from Kansas City Southern that it was […]
NEW YORK (Reuters) – U.S. stocks ended higher on Wednesday as surging crude prices boosted energy shares and a swath of positive U.S. data suggested inflation has crested and the economic recovery remains robust, prompting a broad rally. All three major U.S. stock indexes gathered strength, with economically sensitive cyclicals, smallcaps and transportation stocks leading […]
(Reuters) – Democrats are crafting a massive spending package as big as $3.5 trillion that would transform the U.S. economy by investing in free community college, childcare and green energy, funded by tax hikes on the wealthy and larger companies.FILE PHOTO: U.S. President Joe Biden stands next to Governor of Colorado Jared Polis during a […]
Consultancy giant Deloitte has recruited a duo of executives from one of New Zealand’s top advertising firms. The company today confirmed the appointment of former Colenso BBDO executive creative director Dan Wright and executive business director Ahmad Salim. The pair will be responsible for launching Deloitte Digital Creative in the local market, with Salim taking […]
BEIJING (Reuters) -China’s factory and retail sectors faltered in August with output and sales growth hitting one-year lows as fresh coronavirus outbreaks and supply disruptions threatened the country’s impressive economic recovery.FILE PHOTO: An employee inspects a circuit board on the controller production line at a Gree factory, following the coronavirus disease (COVID-19) outbreak in Wuhan, […]
BEIJING (BLOOMBERG) – The Chinese authorities have told major lenders to China Evergrande Group not to expect interest payments due next week on bank loans, according to people familiar with the matter, taking the cash-strapped developer a step closer to one of the nation’s biggest debt restructurings. The Ministry of Housing and Urban-Rural Development told […]
SINGAPORE – Rental demand for both Housing Board and condominium units rebounded last month after tenants returned to the market as Covid-19 viewing restrictions eased. Flash data from real estate portal SRX on Wednesday (Sept 15) showed that the rental volume for private apartments rose 6.6 per cent month on month in August to 4,907 units. The […]