Business

Fed's Mester: Need "several months" of inflation moving down to call the peak

FILE PHOTO: Cleveland Federal Reserve President and CEO Loretta Mester gives her keynote address at the 2014 Financial Stability Conference in Washington December 5, 2014. REUTERS/Gary CameronWASHINGTON (Reuters) – Inflation will need to move lower for “several months” before the Federal Reserve officials can safely conclude it has peaked, Cleveland Fed president Loretta Mester said […]

Business

Elon Musk’s secret for looking smart during meetings: Ex-colleague spills

It’s obvious why Lotus hired Matt Windle to spear its electric car push. The Englishman worked for Tesla for seven years from 2005 – or just a year after Elon Musk bought the early-stage electric vehicle maker. He worked on Tesla’s first car, the Roadster (the model that Musk would later launch toward the sun […]

Business

Market nerves prop up safe-haven dollar, yen

HONG KONG (Reuters) – The yen held most of its overnight gains on Friday, after falling U.S. yields and market jitters propped up the Japanese currency while another Wall Street selloff drove flight-so-safety bid to dollar, which remains near 20-year high peaks.A money changer counts U.S. dollar banknotes at a currency exchange office in Ankara, […]

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UK to enter recession this year, think-tank NIESR forecasts

LONDON (Reuters) – Britain is on course to enter a technical recession in the second half of this year and faces a big hit to living standards from surging prices, an economic think-tank said on Wednesday.FILE PHOTO: The City of London financial district can be seen as people walk along the south side of the […]

Business

Australia's central bank drastically raises inflation forecasts, flags more rate hikes

SYDNEY (Reuters) – Australia’s central bank on Friday drastically revised up forecasts for inflation, foreshadowing how far interest rates might have to rise to bring the country’s cost of living crisis under control.Slideshow ( 2 images )In its quarterly statement on monetary policy, the Reserve Bank of Australia (RBA) warned core inflation could now hit […]

Business

Airbnb bets on strong summer travel to drive revenue growth

FILE PHOTO: Airbnb logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/Illustration(Reuters) – Vacation rental firm Airbnb Inc projected second-quarter revenue above market estimates on Tuesday, betting on pent-up demand to drive a strong summer travel season after COVID-19 curbs were eased globally. The San Francisco-based firm expects revenue between $2.03 […]

Business

Home inspired by 1935 film in Denver’s Hilltop neighborhood hits market for $5M – The Denver Post

An 85-year-old Hilltop home inspired by a 1935 romantic film hit the market this month for $5.1 million. The French Chateau-style manor at 33 S. Birch St. was originally built in 1937 but has modern finishes throughout, including a new pool and kitchen. “The word is that the original owner was a Wyoming rancher who […]

Business

China's Xi vows stronger antimonopoly efforts, healthy capital market

FILE PHOTO: A screen shows Chinese President Xi Jinping delivering a keynote speech at the opening ceremony of the Boao Forum for Asia via video link, at a media centre in Boao, Hainan province, China April 21, 2022. REUTERS/Kevin YaoBEIJING (Reuters) -Chinese President Xi Jinping said the nation should strengthen its antimonopoly efforts and prevent […]

Business

Brazil to make bolder tax cuts on industrial products

BRASILIA (Reuters) – Brazilian President Jair Bolsonaro signed a decree to cut taxes on industrial products (IPI) by 35% effective on May 1, a deeper tax cut than the 25% reduction that is in force now, an effort he says will boost economic activity as the country emerges from the pandemic.FILE PHOTO: Brazil’s President Jair […]

Business

Economic growth risks jolt inflation-obsessed markets

(Refiles to fix date to April 27 not April 26)FILE PHOTO: The statue of former U.S. President George Washington stands across from the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., November 4, 2020. REUTERS/Andrew Kelly/File PhotoLONDON (Reuters) – After months focusing on central banks’ response to raging inflation, financial markets are […]