Business

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 …

(AP) — Stocks fell sharply worldwide Friday on worries an already slowing global economy could fall into recession as central banks raise the pressure with additional interest rate hikes. The Dow Jones Industrial Average fell 1.6%, closing at its lowest level since late 2020. The S&P 500 fell 1…

(NMC) — Tempura’s Best Restaurant is the latest company to sign on as a Northern Marianas College ProaPerks Partner, joining many other businesses and organizations. All card-carrying members of the NMC ProaPerks program can now receive a complimentary blueberry or strawberry lemonade with every pu…

(Reuters) — Three major U.S. banks said on Wednesday they will hike their prime lending rates by 75 basis points, bringing the rates to their highest since the global financial crisis of 2008. JPMorgan Chase & Co, Citigroup Inc and Wells Fargo & Co said the new rates would take effect on Th…

SYDNEY (Reuters) — The dollar surged to a fresh two-decade high against major peers and stocks fell on Thursday after the Federal Reserve raised U.S. interest rates and forecast more hikes ahead than investors had expected. The euro sank to a 20-year low of $0.9810 after Russia ordered the mobiliza…

WASHINGTON (Reuters) — Federal Reserve Chair Jerome Powell vowed on Wednesday that he and his fellow policymakers would “keep at” their battle to beat down inflation, as the U.S. central bank hiked interest rates by three-quarters of a percentage point for a third straight time and sign…

HAGÅTÑA, Guam (PIDB) —  The Pacific Islands Development Bank is proud to announce and welcome Jamie James Aingimea as the bank’s loan officer. “We welcome Jamie to our PIDB family. I am confident that he will be  a  valuable  addition  to  our team,” said PIDB President & CEO Lindsay Timarong. …

(Reuters) — The cost of renting a home in the United States is surging and young workers have felt the sharpest pain, many of them taking on additional jobs or roommates to afford housing costs. Household rents in 2021 jumped 10% from pre-pandemic levels, according to Census Bureau estimates releas…

WASHINGTON (Reuters) — The Federal Reserve was expected on Wednesday to lift interest rates by three-quarters of a percentage point for a third straight time and signal how much further and how fast borrowing costs may need to rise to tame a potentially corrosive outbreak of inflation. The policy d…