In a recent interview with the Bieler Tagblatt, departing Swiss National Bank Chairman Thomas Jordan shed light on the oft-misunderstood world of central banking. Contrary to popular belief, Jordan argues that central banking is far from boring. Instead, he suggests that being prepared to carry the label of “boring” may be the key to success
Economy
Recently, six major banks, including Bank of America and Citigroup, agreed to pay $80 million to settle antitrust litigation in New York. The litigation accused the banks of conspiring to rig prices of European government bonds. This preliminary settlement requires approval from a judge and would put an end to the ongoing legal battle. Investors,
China’s industrial profits saw a positive growth trajectory in June, with a 3.6% year-on-year rise, following a 0.7% gain in May. The first-half earnings also showed an acceleration, reaching 3.5% compared to a 3.4% increase in the previous period. This growth can be attributed to the relatively rapid industrial production and an easing in factory-gate
As investors gear up for a pivotal week in the stock market, they are faced with a cascade of events that could dictate the immediate future of U.S. stocks. After a prolonged rally in major tech stocks came to an abrupt halt in July, the recent turbulence in the markets has sent shockwaves through the
Russia’s central bank made a significant move by increasing its key interest rate by 200 basis points to 18% on Friday. This decision was driven by concerns about high inflation and an overheated economy. As a result, the cost of borrowing has reached its highest level in more than two years. The central bank also
As Wall Street prepares to wrap up a challenging week, all eyes are on the Federal Reserve’s preferred gauge of inflation. The personal consumption expenditures (PCE) price index is expected to reflect a 0.1% month-over-month increase, with an annualized figure of 2.5%, closely aligning with the Fed’s 2% target. Analysts at JPMorgan anticipate a 0.2%
Sotheby’s, the renowned auction house, is making waves in Hong Kong with the launch of its first retail outlet. This innovative concept showcases a diverse range of items, from collectible trainers to dinosaur fossils, at prices starting from just a few hundred dollars. Changing Market Dynamics The decision to venture into retail comes at a
South Korea is taking steps to revitalize its economy and address its declining birth rate by proposing tax cuts aimed at stimulating the stock market and encouraging families to have more children. These measures are part of a broader initiative to enhance the Corporate Value-up Programme and make the country more attractive for investors. One
As former New Federal Reserve President Bill Dudley points out, it is crucial for the Fed to cut rates as soon as possible in response to the looming recession concerns. Dudley’s change of heart reflects the rapidly changing economic landscape, where the previous strategy of maintaining higher rates for a longer period is no longer
Delta Air Lines, one of the largest airlines in the United States, has reported a significant decrease in flight cancellations after facing a tumultuous few days. The airline, which had to cancel over 6,000 flights since Friday, saw a sharp decline in cancellations with only 47 flights being canceled as of the latest reports. This
Windrose, a Chinese electric truck startup, is making waves in the electric vehicle market with its plans to establish a U.S. assembly plant for its semi-trucks by 2025. Founder and Chief Executive Han Wen revealed this ambitious move in an interview, signaling a direct challenge to Tesla in its home market. This article will delve
UBS analysts have reiterated their confidence in a soft landing for the US economy, attributing it to the downward trend in inflation and the Federal Reserve’s potential rate cuts. They emphasize that moderating consumer spending is a crucial factor in curbing inflation, despite some recent positive economic data. The Institute for Supply Management’s purchasing managers