US Fed official backed rate pause because inflation ‘too high’
A senior member of the US Federal Reserve on Friday said he voted against cutting interest rates this week because inflation was “too high” for comfort. Kansas City Fed president Jeff Schmid was one of two people who dissented on Wednesday’s vote, at which the US central bank backed a quarter percentage-point rate cut. The […]
Panama wins canal expansion arbitration against Spanish company
Panama’s government won a lawsuit against Spanish company Sacyr, officials said Friday, after the firm claimed it was owed around $2.3 billion for its work expanding the Panama Canal. Sacyr sued Panama in 2018, alleging the Central American country violated a free trade agreement with Spain. “The Republic of Panama won the international investment arbitration […]
High price of gold inspires new rush in California
Matt James has collected gold nuggets for years from the hills and riverbeds of California, but as the precious metal’s price soars, he has found an unexpected El Dorado: on social media. Though the value has fluctuated, it has effectively doubled in the last two years, reaching an all-time high of more than $4,380 an […]
Most Asian markets rise on lingering trader optimism
Most stocks rose in Asian trade Monday after a busy last week, with optimism supported by another AI-led tech rally on Wall Street. Investors returned from the weekend in relatively good spirits after an upbeat end to October that saw China-US tensions ease, a Federal Reserve interest rate cut and healthy earnings from market darlings […]
Trump’s global tariffs to face challenge before Supreme Court
The US Supreme Court is set to hear arguments Wednesday on the legality of Donald Trump’s unprecedented use of powers for sweeping global tariffs in a case striking at the heart of the president’s economic agenda. Since returning to the White House, Trump has invoked emergency economic powers to impose “reciprocal” tariffs over trade practices […]
