Business News

HONG KONG (Reuters) — Central banks will get inflation under control, but there will be turbulence in the near-term due to monetary tightening and geopolitical risks, top bankers said at a summit in Hong Kong on Wednesday. Morgan Stanley CEO James Gorman said his gut feeling was that central banks …

WASHINGTON (Reuters) — The Federal Reserve is expected to raise interest rates by three-quarters of a percentage point for the fourth straight time on Wednesday, but open the door to a future slowdown in its policy tightening as it balances the risk of stubbornly high inflation against the economic…

(Reuters) — After months of tears and tantrums, bitcoin wants to split up with stock markets. The cryptocurrency, which has been closely correlated with tech stocks for much of its torrid 2022, is staging one of its strongest efforts yet to break away. Its 30-day correlation with the Nasdaq slid to…

WASHINGTON (Reuters) — U.S. manufacturing activity grew at its slowest pace in nearly 2-1/2 years in October while a measure of prices paid by businesses for inputs slid for a seventh straight month, as the Federal Reserve’s aggressive push to raise interest rates in order to quash inflation …

WASHINGTON (Reuters) — A planned $2.2 billion merger of Penguin Random House, the world’s largest book publisher, and rival Simon & Schuster cannot go forward, a U.S. judge has ruled. Judge Florence Pan of the U.S. District Court for the District of Columbia, said in a brief order on Mond…

(Reuters) — Twitter will revise its user verification process, Elon Musk said in a tweet on Sunday, just days after he took over one of the world’s most influential social media platforms. “Whole verification process is being revamped right now,” Musk said in his tweet without giv…

(Special Advertising Feature) — IHG Hotels & Resorts has officially opened its first Crowne Plaza Resort in Micronesia, Crowne Plaza Resort Saipan, marking the brand’s debut with a grand opening ceremony on Monday, October 31. More than 200 government and industry officials attended the ribbon-…

SINGAPORE (Reuters) — Oil prices fell on Monday on concerns that widening Covid-19 curbs in China will curtail demand, offsetting signs that output at the top U.S. shale field is losing steam. Brent crude futures dropped 36 cents, or 0.4%, to $95.41 a barrel by 0151 GMT after slipping 1.2% on Frida…

SINGAPORE (Reuters) — Asian stock markets climbed cautiously on Monday amid hopes that the Federal Reserve might sound less aggressive about rate hikes this week, while wheat prices leapt after Russia withdrew from a pact allowing Ukrainian grain to transit the Black Sea. Gains in Hong Kong, Austra…

(Reuters) — Dogecoin surged more than 70% on Saturday, extending this week’s gains after Elon Musk sealed a $44-billion deal to take over Twitter last week. The Tesla Inc CEO, a vocal proponent of cryptocurrencies, has heavily influenced prices of dogecoin and bitcoin. Tesla started accepting…