Tag: Economy
Forget the Eiffel Tower. Here's where the French travel in France
With fewer foreign travelers during the pandemic, smaller towns and villages in France emerged as popular vacation spots with locals.
FTX closes in on a deal to buy embattled crypto lender BlockFi for $25 million in a fire sale, source says
Crypto giant FTX is close to finalizing a term sheet to buy BlockFi, sources familiar with the situation told CNBC.
Natural gas drops 16%, posts worst month in more than three years
Natural gas plunged below $6 on Thursday amid growing worries of an oversupplied market.
This was the worst first half for the market in 50 years and it's all because of one thing — inflation
A multitude of factors conspired to generate the stock market's worst first-half since 1970, but they all emanated from one word: inflation.
Powell vows to prevent inflation from taking hold in the U.S. for the long run
Federal Reserve Chair Jerome Powell vowed Wednesday that policymakers would not allow inflation to take hold of the U.S. economy over the longer term.
Fed’s preferred inflation measure rose 4.7% in May, around multi-decade highs
Core personal consumption expenditures prices, excluding food and energy, rose 4.7% from a year ago, slightly less than expected.
ECB's chief economist sees double-sided risk of spiraling inflation and an economic slowdown
European Central Bank Chief Economist Philip Lane said the Frankfurt institution will have to remain vigilant over the coming months.
Fed’s Mester backs 75 basis point hike in July if conditions remain the same
Cleveland Fed President Loretta Mester said Wednesday that she will be advocating for a 75 basis point hike to interest rates in July if conditions stay the same.
Stocks waver Wednesday as Wall Street attempts to regain its footing
Stocks fluctuated on Wednesday, after the major averages made a failed attempt at a bounce in the previous session.
Powell vows to prevent inflation from taking long-run hold in the U.S.
Federal Reserve Chairman Jerome Powell vowed Wednesday that policymakers would not allow inflation to take hold of the U.S. economy over the longer term.
UK unlikely to return to mandatory Covid restrictions despite rising cases
Mandatory Covid-19 restrictions are unlikely to be reintroduced in Britain, even as the country enters a new wave of infections, health researchers have said.
G-7's infrastructure plan offers an alternative to China's Belt and Road Initiative in a 'deliberate way'
The Group of 7 announced a new infrastructure funding program for developing nations that could rival China's Belt and Road Initiative.
As Klarna and Affirm falter, a new breed of 'buy now, pay later' startups are stealing the spotlight
Venture capitalists are betting a new breed of startups from Europe will be the real winners in the crowded "buy now, pay later" space.
New York Fed President John Williams says a U.S. recession is not his base case
New York Fed President John Williams said he expects the economy to avoid recession even as he sees significantly higher rates to control inflation.
‘Apathetic’ investors will embrace banks: RBC top analyst predicts comeback in year’s second half
RBC Capital Markets' top banking analyst Gerard Cassidy expects strong revenue growth and optimism surrounding credit will boost banks.
