People walk in the rain across London Bridge in central London. Picture date: Tuesday March 12, 2024. Lucy North – Pa Pictures | Pa Pictures | Getty Images Britain’s “sluggish” growth prospects are on track to be the worst-performing economy of any developed nation next year, according to new forecasts from the Organization for Economic…
Federal Reserve officials left interest rates unchanged and signaled they were mindful of how stubborn inflation would prove, paving the way for a prolonged period of high borrowing costs. The Fed kept interest rates steady at 5.3 percent on Wednesday, leaving them at their highest level in more than two decades, where they have been…
International Monetary Fund (IMF) Managing Director Kristalina Georgieva speaks during a briefing on the global policy agenda at IMF headquarters during the IMF-World Bank Spring Meetings in Washington, DC on April 18, 2024. Almond Ngan | Afp | Getty Images Kristalina Georgieva, managing director of the International Monetary Fund, played down the prospect of negative…
Ben Houchen, a regional mayor in the north of England, is facing a tight race for re-election, partly due to the broader problems facing Britain’s Conservative Party. Source link 2024-05-02 01:25:03 www.nytimes.com
According to ADP, private payrolls rose faster than expected in April, suggesting there are still plenty of tailwinds for the U.S. labor market. A separate report noted that job vacancies continue to decline, falling to their lowest level since the start of 2021. The payroll company reported Wednesday that companies added 192,000 workers this month,…
Federal Reserve officials left interest rates unchanged, signaling they are aware of how stubborn inflation is proving, paving the way for an extended period of high interest rates. The Fed kept borrowing costs steady at 5.33 percent on Wednesday, keeping them at their highest level in more than two decades where they have been set…
The BlackRock logo is displayed at the company’s headquarters in New York City on November 14, 2022. Leonardo Munoz | Getty Images Asset manager BlackRock will launch an investment platform in Riyadh with the help of a $5 billion anchor investment from Saudi Arabia’s Public Investment Fund, the kingdom’s sovereign wealth fund. Tuesday’s announcement followed…
Federal Reserve officials have strongly advocated for their separation from politics, but the presidential election is putting the institution on a crash course with partisan infighting. Fed officials set policy independently of the White House, meaning that while presidents can push for lower interest rates, they cannot force central bankers to lower borrowing costs. Congress…
Employee compensation costs rose more than expected at the start of the year, posing a further threat signal for continued inflation, while consumer confidence hit its lowest level in nearly two years. The employment cost index, which measures workers’ salaries and benefits, rose 1.2% in the first quarter, the Labor Department reported Tuesday. That was…
McDonald’s employee gives change to a customer. Jeffrey Greenberg | UIG | Getty Images Some of America’s best-known companies say their consumers are suffering from inflation as prices continue to rise. For the past three years, inflation has dominated corporate America’s discourse after the pandemic loosened monetary policy and cost trillions of dollars in Covid…
