HSBC logo is displayed outside a branch of in the United Kingdom. Matt Cardy | Getty Images HSBC announced on Wednesday that it has appointed Georges Elhedery as group CEO, starting Sept. 2. Elhedery, who is the current chief financial officer, will replace outgoing head Noel Quinn in September. In late April, HSBC unexpectedly announced … Read more
Republican presidential nominee and former U.S. President Donald Trump raises his fist during Day 1 of the Republican National Convention (RNC) at the Fiserv Forum in Milwaukee, Wisconsin, U.S., July 15, 2024. Elizabeth Frantz | Reuters Donald Trump will allow Federal Reserve Chair Jerome Powell to complete his term at the central bank if he … Read more
One kilogram gold bullion at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Bloomberg | Bloomberg | Getty Images Gold prices continued to notch new records Wednesday, lifted by increasing conviction that the Federal Reserve will cut interest rates in September following comments from Fed Chair Jerome Powell. Spot … Read more
Cherry trees in bloom near the Nippon Budokan in Tokyo, Japan, on Sunday, April 7, 2024. Bloomberg | Bloomberg | Getty Images Asia-Pacific markets rose on Wednesday after the Dow Jones Industrial Average and the S&P 500 closed at record highs overnight as traders become increasingly bullish on interest rate cuts. Japan’s Nikkei 225 rose … Read more
A Spirit Airlines aircraft undergoes operations in preparation for departure at the Austin-Bergstrom International Airport in Austin, Texas, on Feb. 12, 2024. Brandon Bell | Getty Images Spirit Airlines said Tuesday it would post a wider-than-expected loss for the last quarter because of revenue that came in short of its expectations. Spirit expects to report … Read more
The International Monetary Fund warned Tuesday that upside risks to inflation have increased, calling into question the prospect of multiple Federal Reserve interest rate cuts this year. In its latest World Economic Outlook update, the IMF said “the momentum on global disinflation is slowing, signaling bumps along the path.” The rise in sequential inflation in … Read more
Federal Reserve Bank Chair Jerome Powell speaks during a House Financial Services Committee hearing on the Federal Reserve’s Semi-Annual Monetary Policy Report at the U.S. Capitol on July 10, 2024 in Washington, DC. Bonnie Cash | Getty Images Traders are now 100% certain the Federal Reserve will cut interest rates by September. There are now … Read more
Ted Pick, co-president of Morgan Stanley, speaks during a Bloomberg Television interview in New York, US, on Thursday, Oct. 26, 2023. Jeenah Moon | Bloomberg | Getty Images Morgan Stanley is set to report second-quarter earnings before the opening bell Tuesday. Here’s what Wall Street expects: Earnings: $1.65 a share, according to LSEG Revenue: $14.3 … Read more
CEOs from left, Charles Scharf, Wells Fargo, Brian Moynihan, Bank of America, and Jamie Dimon, JPMorgan Chase, testify during the Senate Banking, Housing, and Urban Affairs Committee hearing titled “Annual Oversight of Wall Street Firms,” in Hart Building on Wednesday, December 6, 2023. Tom Williams | Cq-roll Call, Inc. | Getty Images Bank of America … Read more
Subsea cables are the backbone of the internet, carrying 99% of the world’s data traffic. Serg Myshkovsky | Photodisc | Getty Images U.S.-Chinese tensions surrounding technology have have sunk to sea lows. Subsea cables hit the headlines earlier this year after four out of 15 critical submarine cables in the Red Sea were cut amid … Read more
