FRANKFURT, Germany (AP) — The head of the European Central Bank underlined the bank’s determination to fight rampant inflation with more interest rate increases on top of record hikes, saying Friday that “our job is far from being completed” and that even a mild recession would not be enough to bring rising prices back under…
LONDON (AP) — In the Putumayo region of the Colombian Amazon, Segundo Meneses’ daily routine took him to the Chufiya river, its banks verdant and waters alive with catfish and piranha. On one morning seven years ago, he noticed a dark film lapping the shore. Where the river turned a bend, it turned to black….
WASHINGTON (AP) — America’s employers kept hiring vigorously in October, adding 261,000 positions, a sign that as Election Day nears, the economy remains a picture of solid job growth and painful inflation. Friday’s report from the government showed that hiring was brisk across industries last month, though the overall gain declined from 315,000 in September….
(Reuters) – Global equity funds obtained huge inflows in the week ended Nov. 2 as investors were hoping that the U.S. Federal Reserve would consider decelerating the pace of its interest rate hikes, ahead of its policy decision. According to Refinitiv Lipper data, investors purchased a net $13.76 billion worth of global equity funds, marking…
TOKYO (AP) — A Japanese consortium has decided to retain its stake in the new Russian operator of the Sakhalin-1 oil and gas project and is set to notify Moscow, moving to secure stable energy supplies for resource-scarce Japan. “It’s an extremely important project,” Economy and Industry Minister Yasutoshi Nishimura said Friday in welcoming the…
BEIJING (AP) — Chinese officials are trying to quell an outcry over the death of a 3-year-old boy from a quarantined residential compound that added to public anger at anti-virus controls that have confined millions of people to their homes. The boy died at a hospital in Lanzhou of carbon monoxide poisoning blamed on a…
Twitter began widespread layoffs Friday as new owner Elon Musk overhauls the company, raising grave concerns about chaos enveloping the social media platform and its ability to fight disinformation just days ahead of the U.S. midterm elections. The speed and size of the cuts also opened Musk and Twitter to lawsuits. At least one was…
(Reuters) – PayPal Holdings shares dropped 7% in premarket trading as the payments processor cut its annual revenue forecast, warning of a bleak holiday quarter as consumers cut back on discretionary spends. Decades-high inflation has hit the purchasing power of consumers who also have to contend with the threat of a looming recession. PayPal said…
By Ankur Banerjee and Amanda Cooper LONDON/SINGAPORE (Reuters) – Global stocks rose on Friday for the first time in three days ahead of key U.S. jobs data, as investors took heart from reports China may relax its COVID rules, boosting major currencies against the dollar and prompting a 2% rally in oil. The MSCI index…
(Reuters) – European shares opened higher on Friday, with luxury stocks and miners leading the advance on hopes that China will soon ease its strict COVID-19 curbs. The STOXX 600 rose 0.7% by 0813 GMT, with miners jumping 3.2%, ahead of data which will likely show the smallest U.S. job additions in nearly two years…
