Federal Reserve policymakers have been weighing the decision on when to start interest-rate cuts, and recent data has provided them with fresh reasons to remain on standby. A Labor Department report showed that U.S. employers added 275,000 jobs last month, surpassing economists’ expectations. However, revisions of prior months’ job gain estimates revealed smaller numbers than
Economy
OpenAI, the world’s leading artificial intelligence company, has announced the return of Chief Executive Sam Altman to its board, along with three new directors. This decision comes after an investigation by law firm WilmerHale into the events surrounding Altman’s November firing. The board has unanimously supported Altman’s leadership, and the company has implemented new governance
On Friday, the U.S. Senate narrowly escaped a partial government shutdown by passing a $467.5 billion spending package with a bipartisan vote of 75-22. This legislation is set to fund various government agencies, including agriculture, transportation, housing, energy, veterans, and more until the end of the fiscal year on September 30. The Senate managed to
The Asian stock markets witnessed a boost as they reached a seven-month peak, in alignment with global peers. Investors were optimistic due to the possibility of a rate easing cycle led by major central banks which ultimately kept the dollar and Treasury yields subdued. Despite this positive sentiment, Japan stood out as it was speculated
Skechers U.S.A. Inc., a prominent footwear company, recently settled charges with the Securities and Exchange Commission (SEC) for its failure to report certain financial transactions involving executives and their relatives. The SEC highlighted that between 2019 and 2022, Skechers did not meet disclosure requirements concerning related person transactions. This lack of transparency included undisclosed payments
The Bank of Canada (BoC) recently announced its decision to maintain the key overnight rate steady at 5%, disappointing borrowers hoping for a cut amidst high inflation. Governor Tiff Macklem expressed concerns about underlying inflation, stating that it was premature to consider a rate reduction. Despite expectations for a possible cut, Macklem emphasized the need
The International Monetary Fund (IMF) announced on Wednesday that it would be expanding its current loan programme with Egypt by an additional $5 billion. This move came as the Egyptian central bank decided to allow the Egyptian pound to plummet and declared that the currency would now be able to trade freely on the market.
The U.S. Supreme Court is currently seeking $19.4 million in federal funds to enhance security measures for the nine justices. The proposed budget includes allocating resources to establish a separate police force to protect the homes of the justices, a responsibility that is currently under the jurisdiction of the U.S. Marshals Service. The rationale behind
In February, core inflation in Tokyo accelerated, surpassing the central bank’s target as the impact of government fuel subsidies waned. This development indicates a step towards the conditions required for the conclusion of negative interest rates. The core consumer price index in Tokyo rose by 2.5% in February, matching market expectations. On the other hand,
China’s parliament is gearing up to unveil moderate stimulus plans in an effort to stabilize economic growth as it convenes for its annual meeting. Premier Li Qiang is set to present economic targets for the year and deliver his first work report to the National People’s Congress. Focus on Near-Term Support Despite mounting pressure due
In a passionate speech to Congress, Argentine President Javier Milei vowed to accelerate his plans for reform in the country in order to address its economic challenges. He challenged lawmakers to pass a new set of bills after a previous version of his comprehensive reform package was rejected the month before. Milei’s tone was forceful
In recent times, Japan’s Nikkei index has been on a steady rise, hitting a fresh record high. The surge of 7.9% the previous month was a clear indicator of the market’s bullish sentiment towards Japanese stocks. The recent 1.8% gain has propelled the Nikkei to levels last seen in 1989. This steady growth showcases the