Business News

Federal Reserve Board Chair Jerome Powell holds a news conference after the Fed raised interest rates by a quarter of a percentage point following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, D.C., March 22, 2023. (Reuters) — The Federal Reserve on W…

WASHINGTON (Reuters) —  The Federal Reserve is expected to raise interest rates by a quarter of a percentage point on Wednesday, a decision that will land amid a brewing political storm over the U.S. central bank’s oversight of collapsed Silicon Valley Bank and with the financial world hangin…

WASHINGTON (Reuters) — The U.S. Federal Reserve begins a two-day meeting on Tuesday, with some top central bank watchers saying it could well pause further rate hikes given recent trouble among banks or even delay releasing new economic projections because the outlook is so clouded. Or not. The Fed…

(Saipan Chamber of Commerce) — The Joint Region Marianas or JRM team is coming to Saipan to host and introduce its Quality of Life Program to the CNMI business community on Tuesday, March 28, 2023, from 10 a.m. to 11:30 a.m. at the multi-purpose center. The JRM team will also be doing one-on-one se…

WASHINGTON (Reuters) — The lightning speed at which the banking industry descended into turmoil has shaken global markets and governments, reviving eerie memories of the financial crisis. Like 2008, the effects may be long lasting. In the space of a week, two U.S. banks have collapsed, Credit Suiss…

(Reuters) — Wall Street’s main indexes fell on Thursday after the European Central Bank raised its key policy rate despite fears of a global banking crisis, fueling concerns that the Federal Reserve could also tighten monetary policy for longer. The European Central Bank pushed through a 50 b…

(Reuters) — U.S. stocks dropped on Wednesday as turbulence at Credit Suisse renewed fears of a banking crisis, while data hinting at economic weakness kept alive hopes of a less aggressive monetary policy move by the Federal Reserve in March. U.S.-listed shares of Credit Suisse slid 24.3% to hit a …

SIMON Graf is the new general manager of Hyatt Regency Saipan. Originally from Berlin, Germany, Graf has been with the Hyatt for over 20 years now with stints in China, South Korea and Vietnam. Graf is experienced and knowledgeable in every hotel function related to operation. After graduating with…

(Reuters) — Bank stocks around the world plunged on Monday even as President Joe Biden vowed to take action to ensure the safety of the U.S. banking system after the sudden collapse of Silicon Valley Bank and Signature Bank. Biden’s efforts to reassure markets and depositors came after emerge…

LONDON/SINGAPORE (Reuters) — Global banking shares plunged on Monday as moves by the United States to guarantee deposits at collapsed tech-focused lender Silicon Valley Bank failed to reassure investors that other banks remain financially sound. Europe’s STOXX banking index fell 5.8%, having …