As the week kicks off, U.S. stock futures are on the rise, setting the stage for a week filled with central bank meetings and major tech company earnings. The focus will primarily be on central banks, with scheduled policy meetings from the Federal Reserve, the Bank of England, and the Bank of Japan. The Federal
Economy
As President Boluarte addressed Congress on Peru’s independence day, she expressed optimism about the country’s economic future. Despite facing allegations of corruption and abuse of power, Boluarte highlighted her plans to call for elections in 2026 by next April. Taking office after the ouster of her predecessor, Pedro Castillo, Boluarte faced challenges with protests and
Central banking, often stereotyped as a dull and monotonous field, has recently sparked a debate on its excitement factor. Departing Swiss National Bank Chairman Thomas Jordan challenges this perception, emphasizing that the role of a central banker is far from boring. In an interview with the Bieler Tagblatt, Jordan defended his tenure at the central
Recently, six major banks, including Bank of America and Citigroup, reached a settlement agreement to pay $80 million to resolve antitrust litigation in New York. The lawsuit alleged that these financial institutions conspired to manipulate the prices of European government bonds between 2007 and 2012. The accused banks, which also include Jefferies, NatWest, Nomura, and
China’s industrial profits saw a 3.6% year-on-year rise in June, following a 0.7% gain in May, according to official data released by the National Bureau of Statistics (NBS). The first-half earnings increased by 3.5%, accelerating from a 3.4% rise in the January-May period. NBS statistician Wei Ning attributed this growth to relatively rapid industrial production
As investors nervously await the upcoming earnings reports from major tech giants such as Microsoft, Apple, Amazon.com, and Meta Platforms, there is a palpable sense of unease in the stock market. The recent downturn in the massive tech stocks that have been driving the market’s rally over the past few months has left many questioning
Russia’s central bank recently made an unprecedented decision to raise its key interest rate by 200 basis points to 18%. This move was an attempt to combat high inflation and an overheated economy, pushing the cost of borrowing to its highest level in over two years. The market had been anticipating this hike, according to
As Wall Street prepares to end a challenging week, all eyes are on the Federal Reserve’s preferred gauge of inflation. This key indicator could potentially influence market sentiment and test the expectations surrounding a potential interest rate cut by the U.S. central bank in September. The June personal consumption expenditures (PCE) price index is projected
Sotheby’s, a renowned auction house, is taking a new approach to selling in Hong Kong with the introduction of its first retail outlet. This retail space will offer a wide range of items, from collectible trainers to dinosaur fossils, at prices ranging from several hundred dollars to millions. Luxury spending in China has experienced a
South Korea has recently proposed tax cuts as a part of its strategy to stimulate the domestic stock market and address the declining birth rate, which is currently the lowest in the world. This move aims to enhance the “Corporate Value-up Programme” that was introduced earlier this year. Among the proposed measures is a revision
Former New Federal Reserve President Bill Dudley has recently shifted his stance on the U.S. central bank’s monetary policy, urging the Fed to cut rates in the face of looming recession concerns. Dudley, who had previously advocated for a higher-for-longer rate regime, now believes that the changing economic landscape necessitates a more accommodative approach. Dudley
Delta Air Lines has been facing massive disruptions in its flight operations, with over 6,000 cancellations since last Friday. However, the U.S. airline reported a significant improvement in its operations on Wednesday, with only 47 flights cancelled, which is just 1% of its total flights. This marks a stark contrast to the 511 cancellations on