The Russian central bank has slashed its key interest rate amidst a decline in inflationary pressure and recovery of the ruble, the bank announced on Thursday. The Bank of Russia’s board of directors has cut the key rate by 300 basis points to 11 percent per year, a May 26 press release said. The rate…
Bank of Russia Cuts Key Interest Rate by 300 Basis Points Following Decline in Inflation
May 26, 2022
admin
Business & Economycentral bank of russiaeconomyEuropeinflationRussian interest ratevalue of the rubleWorld
0 Comment
Inflation ‘Out of Control,’ Markets ‘Imploding’: Hedge Fund Billionaire Blames Loss of Confidence in Fed
May 26, 2022
admin
Business & Economyeconomyhigh inflationinflationJerome Jay PowellUSUS NewsUS unemploymentWilliam Ackman
0 Comment
Hedge fund billionaire Bill Ackman has criticized the U.S. Federal Reserve for the way it has handled inflation, warning that the agency’s modest interest rate hikes won’t be able to control the uncontrolled increase in prices. “Inflation is out of control. Inflation expectations are getting out of control. Markets are imploding because investors are not…
EXCLUSIVE: Lithuanian Ambassador: Vilnius Withstood Beijing’s Coercive Pressure
May 26, 2022
admin
16+1 initiative17+1Asia & PacificBusiness & EconomyChinaeconomyEuropeGlobal ExpansionLithuaniaSpecial TopicsTaiwanWorld
0 Comment
When the Chinese regime resorted to political and economic coercion to punish Lithuania for leaving a voluntary grouping of countries led by China and growing its ties with Taiwan, Lithuania did not cave in and withstood the pressure with the support of the European bloc and other countries. Lithuania informed the Chinese regime in February…
12 Groups Behind Protest of Musk’s Twitter Takeover Have Ties With Gates Foundation, Soros
May 26, 2022
admin
Bill & Melinda Gates FoundationBill GatesBusiness & EconomyCompaniesElon MuskGates FoundationMedia & Big TechMuskSocial MediaTechTech NewsTwitterUSUS News
0 Comment
Around a dozen liberal groups that pressured Twitter advertisers to boycott the platform in response to Elon Musk’s plans to acquire it received money from entities backed by Bill Gates and George Soros, an analysis of public filings shows. In early May, a group of 26 organizations penned a public letter claiming that the Tesla…
UK Government to Probe Chinese Takeover of UK’s Largest Microchip Factory
May 26, 2022
admin
Business & EconomyChinaChina Business & EconomyChineseCompaniesEurope-China RelationsInternational RelationsmicrochiptechnologyUKWorld
0 Comment
The acquisition of Britain’s biggest microchip factory by a Chinese-owned technology company is to face a full national security assessment. After weeks of pressure from politicians and concerns issued from Washington, the UK’s Business Secretary Kwasi Kwarteng confirmed the government would examine whether the takeover of Newport Wafer Fab by Nexperia, a subsidiary of the…
Largest Shareholder of Wendy’s Exploring Buying Fast Food Chain Amid Rising Costs
Fast-food chain Wendy’s may be up for sale as the restaurant struggles with rising commodity and labor costs. According to a May 24 filing with the U.S. Securities and Exchange Commission, The Wendy’s Company Chairman Nelson Peltz said that his management fund, Trian Partners, wants to explore a possible sale or merger for the restaurant chain. Trian Fund…
Best Buy ‘Not Planning for Full Recession’ Despite Slower Consumer Demand, Declining Sales
The CEO of Best Buy Co. Inc. said on May 24 that the company is “not planning for a full recession,” but acknowledged that tough times lie ahead with regard to slower consumer sales. “I think I want to start with a reminder that this is a very stable industry,” CEO Corie Barry said on an…
UK Imposes Windfall Tax on Energy Firms to Fund £15 Billion Relief Package for Households
The UK government has announced a temporary windfall tax on oil and gas giants to fund a relief package for households struggling with rising bills. Chancellor of the Exchequer Rishi Sunak has previously resisted opposition parties’ calls for a windfall tax, warning about the impact it would have on future investment. But he has now…
World Bank Chief Says Recession Looks Inevitable
World Bank President David Malpass said that a global recession appears all but inevitable as the war in Ukraine roils on, fueling higher food and energy prices that keep broader inflationary pressures high. Malpass made the remarks in a May 25 virtual discussion hosted by the U.S. Chamber of Commerce, which grappled with a number of…
S&P 500, Dow Open Higher on Earnings Optimism
The S&P 500 and the Dow opened higher on Thursday after strong profit forecasts from companies such as Macy’s, while data confirmed the U.S. economy contracted in the first-quarter, quelling some worries about aggressive rate hikes. The Dow Jones Industrial Average rose 127.89 points, or 0.40 percent, at the open to 32,248.17. The S&P 500…
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`