Business News

(Reuters) — The Dow Jones Industrial Average, the oldest of Wall Street’s three main stock indexes, dropped 1.1% on Monday, extending the decline from its January peak to more than 20%, meeting a common definition for a bear market. Worries that the Federal Reserve’s war against decades…

HONG KONG (Reuters) — Asian markets attempted to stabilize on Tuesday after a wild few days of stumbling stocks, crumbling bonds, a plunging pound and soaring dollar, with the dollar easing a bit and stocks flat. Sterling, which collapsed to a record low $1.0327 on Monday, recovered to $1.0742. S&a…

WASHINGTON (Reuters) —  U.S. Federal Reserve officials on Monday sloughed off rising volatility in global markets, from slumping U.S. stocks to currency turbulence abroad, and said their priority remained controlling domestic inflation. “There are interactions there,” Cleveland Fed Pres…

(Reuters) — Wall Street slid deeper into a bear market on Monday, with the S&P 500 and Dow closing lower as investors fretted that the Federal Reserve’s aggressive campaign against inflation could throw the U.S. economy into a sharp downturn. After two weeks of mostly steady losses on the…

HONG KONG (Reuters) — Hong Kong is readying for a surge in travel after the global financial hub ended mandatory Covid-19 hotel quarantine for international arrivals on Monday, with travel companies reporting 10-fold jumps in requests. The curbs were lifted for the first time in more than 2-1/2 yea…

THE Saipan Chamber of Commerce will hold its monthly general membership on Wednesday, Oct. 5, 2022, from 11:30 a.m. to 1 p.m. at the Queens Hall of Kensington Hotel. The chamber will present the board of directors nominations, election dates, how many votes are allowed per membership, and many more…

(MVA) —  The Marianas Visitors Authority  touted diving opportunities in the Marianas at Asia Dive Expo or ADEX 2022 on Sept. 16-18, 2022, in Singapore. ADEX is the largest and longest-running  dive consumer and trade show in Asia and is a must-attend event for dive enthusiasts.   MVA joined 127 ot…

LONDON (Reuters) — Britain’s new economic agenda represents the biggest gamble for growth in a major Western democracy in at least 40 years, for which the chance of success fell instantly as investors ditched sterling assets. Prime Minister Liz Truss’s “Growth Plan” is Brita…

NEW YORK (Reuters) — A week of heavy selling has rocked U.S. stocks and bonds, and many investors are bracing for more pain ahead. Wall Street banks are adjusting their forecasts to account for a Federal Reserve that shows no evidence of letting up, signaling more tightening ahead to fight inflatio…

SEOUL (Reuters) — South Korea’s finance minister said the government would prepare more measures to stabilize the foreign exchange market, while downplaying the need for a currency swap arrangement with the United States. The measures include utilizing the government’s foreign exchange …