Business

SINGAPORE (Reuters) — Nervous financial markets propelled the safe-haven dollar to a fresh two-decade peak on Wednesday as rising global interest rates fed recession worries, while sterling languished near all-time lows on fears over Britain’s radical tax cut plans. The U.S. dollar index agai…

(Reuters) — Apple Inc is dropping plans to increase production of its new iPhones this year after an anticipated surge in demand failed to materialize, Bloomberg News reported on Tuesday, citing people familiar with the matter. The company told suppliers to curtail efforts to increase assembly of i…

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) — 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…

(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…