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Barkin says Fed would be ‘smart’ to take its time to cut rates due to persistent inflation
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Fed and ECB divergence on rate cuts could spell trouble for the euro, economist says
The prospect of the ECB diverging from the Fed on rate cuts is likely to be "particularly negative" for the euro area, according to one economist.CNBC - Business - Federal Reserve -
Asian Currencies' Recovery Only Likely Once Rate Cuts Begin
Asian currencies would likely remain under pressure versus USD in 2Q, UOB FX strategists said.The Wall Street Journal - World -
Kremlin critics say Russia is targeting its foes abroad with killings, poisonings and harassment
Since President Vladimir Putin launched his invasion of Ukraine, attacks and harassment of Russians abroad have been blamed on Moscow’s intelligence operatives across Europe and elsewhereABC News - World - Russia -
Standard Chartered posted a rise in first-quarter net profit due to higher trading income, despite lower earnings from the bank's lending business.
Standard Chartered posted a rise in first-quarter net profit due to higher trading income, despite lower earnings from the bank’s lending business.The Wall Street Journal - World -
Japan used $59bn to prop up the yen but consumers may still cut back
Government interventions this week fail to ease concerns about plunging currencyFinancial Times - Business - Japan
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Coinbase had over $1 billion in quarterly profit after crypto-trading explosion. But costs are rising too.
A boom in crypto trading during the first quarter led cryptocurrency exchange Coinbase Global to a dramatic reversal of fortunes from the prior year, but the company warned of “elevated expenses” in the second quarter as it tries to handle the flood.MarketWatch - Business -
RBA’s policy options are running short, says JBWere
With inflation proving sticky, the Reserve Bank of Australia doesn’t have the option of simply holding interest rates higher for longer, with further increases now looking likely, a leading forecaster says.MarketWatch - Business -
Forget AI. Apple’s plan to restore confidence is a $110 billion stock buyback.
It’s been a rough year, but Apple shows confidence in itself and investors approve — for now.MarketWatch - Business -
Fortinet’s stock falls 8% after cybersecurity company’s quarterly billings drop
Shares of Fortinet Inc. fell 8% in the extended session Thursday after the cybersecurity company reported a better-than-expected first quarter and guidance that went beyond Wall Street forecasts, but billings were slightly off the mark.MarketWatch - Business -
Block’s stock shoots higher as Square parent boosts its earnings outlook
Also contributing was momentum across the company’s two main business areas, the Cash App mobile wallet and the Square merchant business.MarketWatch - Business