Key Fed inflation gauge rises 4.9% from a year ago, fastest gain since 1983.
A gauge the Federal Reserve prefers to measure inflation rose 4.9% from a year ago, the biggest gain going back to September 1983, the Commerce Department reported Friday. The core personal consumption expenditures price index excluding food and energy was slightly...
Abu Dhabi investor in chip giant GlobalFoundries sees exponential growth for the industry
The semiconductor industry is on track to record exponential growth over the next decade, according to the CEO of Abu Dhabi sovereign wealth fund Mubadala, who said chipmakers are poised to play a “crucial” role in the global economy.
Inflation likely to hit 5%, warns Bank of England chief economist
The Bank of England’s new chief economist has warned that UK inflation is likely to hit or surpass 5% by early next year.
Expo2020 Dubai: Nearly 1.5 million visits were recorded in 24 days
Dubai Expo 2020 recorded nearly 1.5 million visits since its opening on October 1, organisers said, on Monday. "A total of 1,471,314 visits were recorded in the first 24 days since the Expo opened," said Sconaid McGeachin, the senior vice president of communications...
Inflation expectations surge, hitting new high for New York Fed survey
Despite the Federal Reserve’s assurance that current inflation pressures won’t last, consumers see things differently, according to a survey Monday from the central bank’s New York district. The June Survey of Consumer Expectations showed that median inflation...
As China leaps ahead on digital currency, a top central bank group is calling for global cooperation
LONDON — Top financial institutions are calling for global cooperation on central bank digital currencies. The Bank for International Settlements, the global body for central banks, issued a report Friday saying that central banks should work to achieve...
Company card start-up Pleo valued at $1.7 billion, becoming Europe’s latest fintech unicorn
Danish start-up Pleo, which sells corporate expense management software and linked “smart” payment cards, has boosted its valuation to $1.7 billion in a $150 million equity financing round.
Biden on June jobs report: ‘Our economy is on the move, and we have Covid-19 on the run’
WASHINGTON — President Joe Biden responded to the June jobs numbers on Friday, saying the strong growth in employment reflects the success of his American Rescue Plan relief bill this spring and his administration’s nationwide vaccination campaigns.
Stocks making the biggest moves in the premarket: Big banks, Facebook, Tesla & more
Big banks – Goldman Sachs (GS), Bank of America (BAC), Morgan Stanley (MS), JPMorgan Chase (JPM) and Wells Fargo (WFC) all announced dividend increases after passing the Fed’s latest stress tests.
Binance: Watchdog clamps down on cryptocurrency exchange
Binance, the world’s biggest cryptocurrency exchange, has been issued a warning by the UK’s financial regulator. The Financial Conduct Authority (FCA) has ruled that the firm cannot conduct any “regulated activity” in the UK.
401(k) investors may be using a robo-advisor — and not even know it
Americans saving in a 401(k) plan may have money stashed in a robo-advisor — and they might not even know it.
Amazon and Google probed over efforts to stop fake reviews
Amazon and Google are under investigation over concerns fake five star reviews on their websites could be misleading shoppers.
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