Bank of England holds rates, stresses June cut depends on coming data
The Bank of England confirmed a widely-expected hold in interest rates following its May meeting on Thursday.
Financial News
U.S. and China trade divisions threaten a ‘reversal’ for global economy, IMF official warns
Strained relations between Western and Chinese-aligned economic blocs could cause a “reversal” in global economic growth, an IMF official warns.
French cognac makers surge as Macron hints at cooling of China trade dispute
Shares of French cognac makers rallied on Tuesday after France’s Macron indicated that trade tensions between the EU and China about cognac imports may ease.
Israeli military tells Palestinian civilians in parts of Rafah to ‘evacuate immediately’
The White House and United Nations have urged Israel against an offensive in Rafah, warning of catastrophic humanitarian consequences.
Warren Buffett says Berkshire Hathaway is looking at an investment in Canada
The Oracle of Omaha noted that he is ‘confident’ in placing bets in the country.
Wegovy maker Novo Nordisk extends losses following first-quarter results
Analysts pored over the details in its first-quarter results and monitored a potential rival weight loss treatment.
Japan’s yen had a roller coaster week amid suspected intervention. Here’s what you need to know
The Japanese yen started the week at 34-year lows against the U.S. dollar but the currency is now staring at its best week in over a year on Friday.
World’s largest olive oil producer says the industry faces one of its toughest moments ever
Spain’s Deoleo says the industry must undergo a “profound transformation” as it grapples with one of the most challenging moments in its history.
The Fed would only cut rates to help the U.S. service its soaring debt, fund manager says
The reason the Fed may be tempted to cut rates would be to help the U.S. cover interest payments on the national debt, according to fund manager Freddie Lait.
Euro zone inflation steady at 2.4%, keeping June rate cut in play as economy returns to growth
Price rises in the 20-nation euro area held steady at 2.4% in April, while the economy returned to growth in the first quarter.