Washington: The Federal Reserve signaled fresh concerns about inflation as it reaffirmed it needs more evidence that price gains are cooling before cutting interest rates from a two-decade high. Officials unanimously decided to leave the target range for the benchmark federal funds rate at 5.25% to 5.5% – where it’s been since July – following … Read more
London’s stock exchange is to lose another high-profile company after shareholders in the Paddy Power owner Flutter backed a proposal to move its primary listing to New York. Investors at its annual meeting on Wednesday voted 98% in favour of the gambling company, formerly known as Paddy Power Betfair, making the switch, which it expected … Read more
Mumbai: Volumes of exchange-traded currency derivatives on the National Stock Exchange (NSE) have plummeted by almost 90% ahead of the May 3 deadline to comply with the central bank’s directive for trades to be backed by underlying exposures. Average daily turnover for currency futures and options, including notional turnover for currency options, on the country’s … Read more
Johnson & Johnson (J&J) is moving forward with a $6.475bn proposed settlement of tens of thousands of lawsuits alleging that its baby powder and other talcum-powder products were contaminated with asbestos and caused ovarian cancer, the company said on Wednesday in a statement. The company discontinued sales of its baby powder in North America in … Read more
She was the sad Oompa Loompa seen around the world. Inside a bleak warehouse in Glasgow, a supposed celebration of Wonka’s delectable world of chocolate left children crying and parents calling the police. Attendees paid £35 to visit a bleak warehouse with a handful of props and posters; inside, they were treated to two jellybeans … Read more
One of the idiosyncrasies of China’s huge appetite for luxury goods has been the high sales of man bags – a niche item in the west. Their popularity initially reflected not just the fondness of the newly rich for conspicuous consumption, but also the practical need to carry large wodges of banknotes in a country … Read more
Smith & Nephew had a shareholder revolt on Wednesday when nearly half of voting investors rejected the medical device manufacturer’s plans to raise its chief executive’s pay packet to $11.8m (£9.5m). But the company’s pay policy, which will increase the maximum payout for Deepak Nath – who is based in Texas – by nearly a … Read more
Labour is facing criticism over plans for a loophole that would allow employees to work under zero-hours contracts, despite the party having pledged to ban them entirely. Keir Starmer’s party is preparing to announce details of its promise to overhaul workers’ rights if it gets into power – a centrepiece of its early plans for … Read more
The Federal Reserve announced on Wednesday that it is holding interest rates steady at 5.25% to 5.5%, their highest level in two decades, as inflation continues to dog the US economy. Though some had hoped the Fed would soon cut interest rates, which are at their highest level since 2007, the annual rate of inflation … Read more
Vehicles are seen on display at a Carvana dealership in Austin, Texas, on Feb. 20, 2023. Brandon Bell | Getty Images Shares of Carvana popped more than 30% during after-hours trading Wednesday after the automaker reported record quarterly results and turned a profit during the first quarter. Here is how the company performed in the … Read more
