Port of New York/New Jersey executives tell CNBC they have begun preparations for a potential complete work stoppage by the International Longshoreman’s Association, the largest union in North America. The ILA represents over 85,000 longshoremen and a strike would shut down five of the 10 busiest ports in North America, and a total of 36 … Read more
A MAGA boat parade participant got salty at a CNN correspondent’s suggestion that he was well off and might not be so affected by economic concerns. (Watch the video below.) Elle Reeve conducted the interviews with a Panama City, Florida, flotilla of Donald Trump supporters and shared them on host Anderson Cooper’s show Wednesday. Reeve … Read more
Here are five key things investors need to know to start the trading day: 1. Roller coaster ride Stock markets took a volatile turn Wednesday as investors weighed the Federal Reserve’s interest rate decision. Market watchers initially cheered the outsized 50-basis-point rate cut, but it raised concerns that the Fed was trying to get ahead … Read more
Commuters cycles past the Bank of England (BOE), left, in the City of London, UK, on Monday, Sept. 16, 2024. The central bank’s Monetary Policy Committee’s interest rate decision is scheduled for release on Sept. 19. Bloomberg | Bloomberg | Getty Images LONDON — The Bank of England on Thursday said it would hold interest … Read more
Federal Reserve Chairman Jerome Powell speaks during a news conference following the September meeting of the Federal Open Market Committee at the William McChesney Martin Jr. Federal Reserve Board Building on September 18, 2024 in Washington, DC. Anna Moneymaker | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC … Read more
Federal Reserve Chairman Jerome Powell speaks during a news conference following the September meeting of the Federal Open Market Committee at the William McChesney Martin Jr. Federal Reserve Board Building on September 18, 2024 in Washington, DC. Anna Moneymaker | Getty Images News | Getty Images This report is from today’s CNBC Daily Open, our … Read more
Ray Dalio, Bridgewater Associates co-chairman and co-chief investment officer, speaks during the Skybridge Capital SALT New York 2021 conference. Brendan McDermid | Reuters As the U.S. Federal Reserve implemented its first interest rate cut since the early Covid pandemic, billionaire investor Ray Dalio flagged that the U.S. economy still faces an “enormous amount of debt.” … Read more
The Federal Reserve’s interest rate decisions can influence the trajectory of the U.S. economy. “The U.S. economy’s stature is one of the key drivers of the importance of the Fed,” said Gregory Daco, chief economist at EY-Parthenon. “The [U.S.] economy remains one of the largest economies in the world, and certainly of late, one of … Read more
WASHINGTON – The Federal Reserve on Wednesday enacted its first interest rate cut since the early days of the Covid pandemic, slicing half a percentage point off benchmark rates in an effort to head off a slowdown in the labor market. With both the jobs picture and inflation softening, the central bank’s Federal Open Market … Read more
Rogers Communications Inc. is buying out Bell‘s 37.5 per cent share of Maple Leaf Sports & Entertainment for C$4.7 billion, giving it 75 per cent ownership of the sports conglomerate. Rogers and Bell had held equal shares of MLSE, which owns the NHL Maple Leafs, NBA Raptors, CFL Argonauts, MLS Toronto FC and AHL Marlies. MLSE chairman … Read more
