Business

(Reuters) — The U.S. Federal Reserve should consider more 75 basis-point interest rate hikes at coming meetings in order to bring high inflation back down to the central bank’s goal, Fed Gov. Michelle Bowman said on Saturday. “I supported the FOMC’s decision last week to raise the…

(Reuters) — A proposal by U.S. Senate Democrats to put income, price and domestic content conditions on electric vehicle tax breaks could initially sharply curtail the number of EVs that qualify, the Congressional Budget Office said on Wednesday. The CBO estimate said the electric vehicle tax credi…

(Press Release) — The Saipan Chamber of Commerce held its monthly general membership meeting on Wednesday, Aug. 3, at the Kensington  Hotel, Queens Hall. Chamber President Joe Guerrero, delivered his welcoming remarks, thanking all in attendance, and acknowledging 500 Sails as the spotlight present…

(Reuters) — Oil prices rose on Thursday as supply concerns triggered a rebound from multi-month lows plumbed in the previous session after U.S. data signaled weak fuel demand. Brent crude futures rose 42 cents, or 0.4%, at $97.20 a barrel by 0250 GMT, while West Texas Intermediate or WTI crude futu…

SINGAPORE/JAKARTA (Reuters) — Global wheat consumption is headed for its biggest annual decline in decades as record inflation forces consumers and companies to use less and replace the grain with cheaper alternatives, amid growing food insecurity. Consumers may face even higher wheat prices in the…

WILMINGTON, Del. (Reuters) — Twitter Inc is attempting to find evidence that Elon Musk tried to torpedo the financing of his $44 billion takeover deal for the social media company while also looking into his motivation for backing out of the deal, legal experts said. Twitter sent dozens of civil su…

TOKYO (Reuters) — Toyota Motor Corp is expected to report a double-digit drop in first-quarter profit this week, as a chip shortage and supply-chain woes forced the world’s top automaker by sales to repeatedly slash production targets. The Japanese car maker cut its monthly production targets…

MANILA (Reuters) — The Philippine central bank will continue supporting the economy’s recovery despite a planned 25 or 50 basis point rate hike this month, its governor said on Tuesday. Current policy rates remain accommodative, Bangko Sentral ng Pilipinas Governor Felipe Medalla told a busin…

TOKYO (Reuters) — Asia stocks tumbled on Tuesday as jitters about an escalation in Sino-U.S. tension with U.S. House Speaker Nancy Pelosi set to begin a trip to Taiwan, adding to fears about the risk of global recession. U.S. long-term Treasury yields dropped to a four-month low, pulling the U.S. d…

(Reuters) — It’s been a good month for bitcoin, and we haven’t said that for a while. After months of freefall, it jumped more than 17% in July, its best performance since October. Ether rose 57%, its strongest monthly gain since January 2021. The rally was in step with gains of riskier…