Golden Horn and Bosphorus at sunset, Istanbul, Turkey Matteo Colombo | Digitalvision | Getty Images Turkey came out miles ahead of the rest of the world in an annual global wealth ranking — in a result that may come as surprising, given the country’s high levels of inflation. “Türkiye stands out with a staggering growth … 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
Chrystia Freeland says she has the “confidence” she needs to continue serving as deputy prime minister and finance minister, after reports of “tension” between her and the prime minister’s office over her handling of the economic file. “To serve as minister in a cabinet, you do need the support and confidence of the prime minister. … Read more
Former President Donald Trump and his newly selected running mate, Sen. JD Vance of Ohio, got all the attention Monday on the opening night of the Republican National Convention in Milwaukee. But the official theme for the evening was the economy ― something that Republicans hope to keep making a focus of the campaign. The … 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
TC Energy Corp.’s ill-fated Keystone XL pipeline has suffered a major blow after a trade tribunal decision that tossed out its claim to US$15 billion in damages. The Calgary-based company launched the claim in 2021 to seek compensation after its proposed Keystone XL pipeline project was scuttled by U.S. President Joe Biden. The claim was … Read more
It’s the nature of prices to go up over time, even in low-inflation environments. Historically, the target for the U.S. Federal Reserve has been 2% annual inflation. So when worldwide events like the Covid-19 pandemic push inflation well above that 2% target, it can be a real shock to consumers. Since hitting 9% in June … 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
Seen through the branches of trees in Ruskin Park are the lit porches of terraced period homes and in the distance, the growing development at Nine Elms, on 14th May 2024, in London, England. Richard Baker | In Pictures | Getty Images LONDON — The International Monetary Fund on Tuesday lifted its 2024 growth outlook … Read more
US former President and 2024 Republican presidential candidate Donald Trump, a bandage on his ear after being wounded in an assassination attempt, attends the first day of the 2024 Republican National Convention at the Fiserv Forum in Milwaukee, Wisconsin, July 15, 2024. Brendan Smialowski | Afp | Getty Images A second presidential term for former … Read more
