European Central Bank gives strong signal that cuts are on the way despite Fed uncertainty
The euro zone’s central bank held interest rates steady for a fifth straight meeting.
Vietnamese property tycoon sentenced to death in country’s largest financial fraud, state media reports
The Vietnamese property tycoon Truong My Lan was sentenced to death on Thursday for her involvement in the country’s biggest financial fraud case.
Wholesale prices rose 0.2% in March, less than expected
The producer price index was expected to increase 0.3% in March, according to the Dow Jones consensus estimate.
Goldman still expects U.S. inflation to fall significantly as markets alarmed by recent rise
Goldman Sachs still expects stubbornly high U.S. inflation to ease over the coming months, despite yet another print showing that consumer prices remain sticky.
Amazon CEO Andy Jassy in shareholder letter says he’s committed to cost cutting while investing in AI
Andy Jassy pledged to keep looking for ways to cut costs even as the company doubles down on investing in new growth areas like artificial intelligence.
‘Lose-lose situation’: New Swiss bank laws could derail UBS’ challenge to Wall Street giants
Switzerland’s new banking regulations create a “lose-lose situation” for UBS and may limit its potential to challenge Wall Street, says Beat Wittmann of Porta Advisors.
China will remain the world’s No. 1 growth driver, says the Asian Development Bank
China will remain the largest growth engine for the world economy in spite of its slowdown, says the Asian Development Bank.
Fed likely to cut rates before ECB blinks, former BOE member says
The Federal Reserve is likely to cut rates before the European Central Bank does, a former member of the Bank of England said.
Australia joins global subsidy race with ‘Future Made in Australia’ plan
Australia will launch subsidies and incentives to help the commodity exporter bolster domestic manufacturing and promote industries vital to national security.
Biden and Japan’s Kishida forge new partnership, eyeing China and Russia
Biden and Kishida unveiled plans for military cooperation and various projects, strengthening their alliance with an eye on countering China and Russia.
