Bank of Canada S Beaudry Sees Signs of New Era of Higher Interest Rates
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The migrant highway that could sway the US election
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Top commodities traders dismiss IPO route after bumper profits
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Franklin, Apple TV+ — story of a polymath patriot who secured the future of America
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New York Community Bank’s online arm is paying the nation’s highest interest rate
NYCB raised the rate offered via its online arm My Banking Direct to 5.55%, higher than any other U.S. savings account, weeks after needing a capital infusion.CNBC - Business - New York -
Bank of Canada Holds Steady, but Says June Rate Cut Is Possible
The Bank of Canada left its benchmark interest rate unchanged for a sixth consecutive time at 5%, and said a cut in June is possible so long as incoming data assures officials that downward momentum in inflation is sustainable.The Wall Street Journal - World -
High Rates Have Been a Profit Machine For Banks. Not Anymore.
America’s biggest bank warned that it is starting to pay more on customer deposits.The Wall Street Journal - World -
Bank of America Earnings Drop, Under Pressure From Higher Rates
The bank reported an 18% drop in first-quarter profit, but still topped expectations with strong performances from its Wall Street and wealth-management operations.The Wall Street Journal - World -
Global inflation and interest rates tracker: see how your country compares
Inflationary pressures are beginning to wane but not all central banks have taken action yet. See how this affects youFinancial Times - World -
Fewer Americans file for jobless claims as labor market continues to shrug off higher interest rates
Fewer Americans applied for jobless benefits last week as the labor market continues to thrive despite the Federal Reserve’s efforts to cool itABC News - Top stories -
Fed Vice Chair Jefferson says interest rates could stay higher for longer if inflation persists
Federal Reserve efforts to reduce inflation hit snagMarketWatch - Business - Federal Reserve -
Middle East oil shock would lead to higher interest rates, warns IMF; FTSE 100 tumbling – business live
IMF scenario shows how a 15% jump in oil prices would push up global inflation by 0.7 percentage points. Try the Be the Chancellor toolUK unemployment rate leaps to 4.2% amid fears of job cutsThe Resolution Foundation have dug into today’s UK jobs ...The Guardian - World -
Higher for Longer After All? Investors See Fed Rates Falling More Slowly.
Investors went into 2024 expecting the Federal Reserve to cut rates sharply. Stubborn inflation and quick growth call that into question.The New York Times - Business - Federal Reserve -
Nasdaq, S&P 500 Climb After PPI Data Lands
U.S. stocks climbed after wholesale price data came in slightly lower than expected.The Wall Street Journal - World -
The Fed is determined not to reduce interest rates too soon, experts say — a mistake the central bank has made in the past
The Fed is determined not to reduce interest rates too soon, experts say — a mistake the central bank has made in the past.CNBC - Business -
European Central Bank gives strong signal that cuts are on the way despite Fed uncertainty
The euro zone's central bank held interest rates steady for a fifth straight meeting.CNBC - Business - Federal Reserve -
What to expect from bank earnings as high interest rates pressure smaller players
JPMorgan Chase, the nation's largest lender, kicks off earnings for the industry on Friday, followed by Bank of America and Goldman Sachs next week.CNBC - Business -
Reserve Bank of New Zealand to Keep Rates at Restrictive Level
The Reserve Bank of New Zealand left its official cash rate steady, but signaled that the rate will need to remain restrictive for some time given that inflation remains high.The Wall Street Journal - World - New Zealand -
High interest rate anxiety
How long can the economy last without a recession?Financial Times - World -
Stubborn inflation pressures persisted in March, derailing the case for the Fed to begin reducing interest rates in June and raising questions over whether it can deliver cuts this year without signs of an economic slowdown.
Stubborn inflation pressures persisted in March, derailing the case for the Fed to begin reducing interest rates in June and raising questions over whether it can deliver cuts this year without signs of an economic slowdown.The Wall Street Journal - World -
Firm inflation during the first quarter has called into question whether the Fed will be able to lower interest rates this year without signs of an unexpected economic slowdown, Powell said.
Firm inflation during the first quarter has called into question whether the Fed will be able to lower interest rates this year without signs of an unexpected economic slowdown, Powell said.The Wall Street Journal - World - Federal Reserve -
Tata Steel workers vote to strike over Port Talbot blast furnace closures
Unite says 1,500 of its members have backed industrial action over Indian steelmaker’s plan for south Wales operationsFinancial Times - World -
Is it a good thing for the very affluent to live in rich enclaves?
The wealth surrounding you may make you less happy if it means you perceive your status as lowerFinancial Times - World -
Mexico demands UN expels Ecuador after raid on its embassy
Latin American countries in diplomatic stand-off after former Ecuadorean vice-president seized in QuitoFinancial Times - World - United Nations -
China asserts ‘deep friendship’ with North Korea as Russian influence grows
Senior official’s trip to Pyongyang signals Beijing’s disquiet about burgeoning ties between Kim Jong Un and Vladimir PutinFinancial Times - World - China -
Republican states step up legal threats to Biden’s climate agenda
New rules to curb pollution are set to face a barrage of challenges in the courtsFinancial Times - World - Climate -
Corporate Canada Braces for Higher Taxes in Tuesday's Budget Plan
The business groups and economists worry that higher taxes could pose another hurdle to the country’s lackluster business investment.The Wall Street Journal - World -
S&P 500, Nasdaq Finish Higher Ahead of CPI Data
U.S. stocks ended mostly higher as the S&P 500 and Nasdaq perked up at the end of a quiet session. The Dow finished flat.The Wall Street Journal - World -
The biggest U.S. banks reported stronger-than-expected first-quarter earnings, but results were tempered by rising pressure from interest rates, which squeezed profit margins.
The biggest U.S. banks reported stronger-than-expected first-quarter earnings, but results were tempered by rising pressure from interest rates, which squeezed profit margins.The Wall Street Journal - World -
WTO Sees Signs of Trade Revival, But Risks From Fragmentation
World trade was seen rebounding this year and next as cooling inflation eases pressure on household budgets, but the recovery may be weakened by growing distrust and fresh barriers between some large economies.The Wall Street Journal - World -
JPMorgan Chase, Wells Fargo and Citigroup all reported better-than-expected first quarter profits and revenues but warned that their core lending incomes would be muted this year as higher interest rates force them to pay up for deposits.
JPMorgan Chase, Wells Fargo and Citigroup all reported better-than-expected first quarter profits and revenues but warned that their core lending incomes would be muted this year as higher interest rates force them to pay up for deposits.The Wall Street Journal - World -
Wall Street’s Big Rethink on Interest Rate Cuts
Investors see Wednesday’s Consumer Price Index report as a pivotal report card on inflation and the Federal Reserve’s next move.The New York Times - Business -
Are the odds of Fed interest rate cuts headed for zero?
Investors should consider whether the clock is running out for the Fed to ease policy this year.The Hill - Politics - Federal Reserve -
How do interest rates affect me?
Bank of England interest rates have an impact on the mortgage, loan and savings rates for millions of people.BBC News - Top stories -
Australia did not sign treaty with World Economic Forum to 'close banks'
Yahoo News - World - Australia -
Biden sees highest approval rating since November
President Biden saw his highest approval rating since November on Monday, ticking up to 43 percent. A new poll from the Financial Times and the University of Michigan’s Ross School of Business that found Biden’s approval rating at 43 percent marks ...The Hill - Politics - Joe Biden -
Democrats bank on abortion in 2024 as Arizona and Florida push stakes higher
Focus on reproductive rights has yielded big wins and Democrats hope threat of more Republican bans will mobilize voters. Kamala Harris’s Friday visit to Arizona was planned before the state’s top court upheld a 160-year-old law that bans almost ...The Guardian - World - Abortion -
Morgan Stanley Earnings Rise on Higher Investment Banking Revenue
The company’s profit rose 14%, as investment banking received a boost from stronger equity and debt underwriting. Shares rose 2.7% premarket.The Wall Street Journal - World -
Bank of America's Q1 profits fall 18% on higher expenses, charge-offs
Bank of America said its first-quarter profits fell 18%, as the bank dealt with rising expenses due to the impact of higher interest ratesABC News - Top stories -
ECB leaves eurozone interest rates on hold but hints at cut this summer – as it happened
European Central Bank says rate cuts would be appropriate if inflation keeps falling, as BoE policymaker Megan Greene argues UK rate cuts are a way off. There’s takeover drama in the self-storage world this morning, as another UK company falls to ...The Guardian - World -
Masters posts lowest ratings since COVID-era tournaments
Not even the the Masters is immune to golf's declining viewership.Yahoo Sports - Sports