Yellen sees no inflation problem after rate hike comments roil Wall Street
U.S. Treasury Secretary Janet Yellen said on Tuesday she sees no inflation problem brewing, downplaying earlier comments that rate hikes may be needed to stop the economy overheating as President Joe Biden’s spending plans boost growth. The initial comments made by Yellen, a former Federal Reserve chair, deepened a sell-off in tech stocks and pushed […]
India halts cricket league as coronavirus cases cross 20 million
India halted its most popular sports tournament on Tuesday and the country’s opposition chief called for a nationwide lockdown as the number of coronavirus infections climbed past 20 million, a dismal milestone crossed only by the United States. Cricket officials suspended the money-spinning Indian Premier League (IPL), after the country added 10 million cases in […]
Analysis: Diplomatic dance or standoff? N.Korea and U.S. tread cautious line
While North Korea’s barrage of complaints about U.S. President Joe Biden’s policies over the weekend might appear to be ratcheting up tensions, some signs suggest Pyongyang hasn’t ruled out diplomacy with the new team in Washington. Few observers expect talks to resume soon – both countries are more focused on issues including the coronavirus pandemic […]
Tornado rips through Mississippi, damages buildings, power lines
A tornado tore through the southern U.S. city of Tupelo on Sunday, blowing the roofs off homes and tearing down trees and power lines, but there were no immediate reports of injuries. “Emergency crews are currently assessing the degree of damage,” the mayor’s office said in a statement on Facebook, urging people to stay in […]
Dollar stays firm as traders look to U.S. data for policy cues
The dollar clung to a recent bounce on Monday as investors made a cautious start to a week crammed with central bank meetings and big-ticket U.S. economic data, waiting for clues on the outlook for global inflation and for policymakers’ responses. Trade was thinned by holidays in Japan and China, which kept a lid on […]
Warren Buffett touts U.S. economy’s unexpected strength as Berkshire rebounds
Warren Buffett said on Saturday that Berkshire Hathaway Inc (BRKa.N) is being lifted by a U.S. economy faring far better than he predicted early in the coronavirus pandemic, though investor euphoria is making it hard to deploy cash. Speaking at Berkshire’s annual meeting, Buffett said the economy has been “resurrected in an extraordinarily effective way” by monetary […]
N. Korea says Biden policy shows hostile U.S. intent, vows response
North Korea lashed out at the United States and its allies in South Korea on Sunday in a series of statements saying recent comments from Washington are proof of a hostile policy that requires a corresponding response from Pyongyang. The statements, carried on state news agency KCNA, come after the White House on Friday said […]
Barclays, BNP Paribas see equities bonanza outweigh fixed income slide
Barclays (BARC.L) and BNP Paribas (BNPP.PA) reported bumper first-quarter profits on Friday, as an equities trading boom offset a slump in demand for fixed income products. The topsy-turvy trading results for two of Europe’s biggest remaining investment banks highlighted how volatile markets amid the global pandemic caused seesawing demand for different asset classes. Barclays’ January-March profit more than doubled […]
U.S. economy accelerates in first quarter; jobless claims edge lower
U.S. economic growth accelerated in the first quarter, fueled by massive government aid to households and businesses, charting the course for what is expected will be the strongest performance this year in nearly four decades. Gross domestic product increased at a 6.4% annualized rate last quarter, the Commerce Department said on Thursday in its advance […]
U.S. to share up to 60 mln AstraZeneca vaccine doses globally -White House
The United States will start to share up to 60 million doses of AstraZeneca Plc’s (AZN.L) COVID-19 vaccine doses with other countries as they become available, White House senior COVID-19 adviser Andy Slavitt said on Monday. “U.S. to release 60 million AstraZeneca doses to other countries as they become available,” he wrote on Twitter. The Associated Press […]
