Bank of America CEO Brian Moynihan said Wednesday that consumers are continuing to spend and economic growth should be solid though slower this year. Despite surveys indicating that confidence is at a nearly three-year low amid increasing worries about inflation, Moynihan told CNBC that spending data shows consumers are still shelling out money, though shifting…
Japan’s national flag flutters at the Bank of Japan headquarters in Tokyo on May 30, 2024. Kazuhiro Nogi | Afp | Getty Images Japan’s central bank on Wednesday kept its key policy rate steady at 0.5% in a unanimous vote. The move, which was in line with market expectations, comes as the Bank of Japan…
A portable power bank likely caused a fire that engulfed and destroyed a passenger plane in South Korea in January, according to local authorities. The Air Busan plane caught fire at Gimhae International Airport in the country’s south on 28 January – causing three people on board to sustain minor injuries. On Friday, South Korea’s…
The European Central Bank is expected to cut interest rates for the second time this year at its Thursday meeting, but disagreement among policymakers may be set to increase amid tariff uncertainty and a potential ramp-up in regional defense spending. Markets had on Wednesday fully priced in a quarter-point rate cut for the March meeting,…
FILE PHOTO: Office of Management and Budget (OMB) Acting Director Russell Vought testifies before House Budget Committee on 2020 Budget on Capitol Hill in Washington, U.S., March 12, 2019. Yuri Gripas | Reuters The Consumer Financial Protection Bureau on Tuesday dismissed its lawsuit against the operator of the Zelle payments network and the three U.S. banks…
Paul Adams BBC News, West Bank EPA The month-long operation has displaced about 40,000 Palestinians from four camps in the West Bank “The army forced us out. Me, my wife and family. We took nothing with us.” Alaa Ofi is trying to figure out how to manage his drastically changed circumstances. “We left behind our…
People walk past the Korea Exchange (KRX) building in Seoul, South Korea, on Dec. 9, 2024. Daniel Ceng | Anadolu | Getty Images South Korea’s central bank cut rates by 25 basis points Tuesday to their lowest since August 2022, as it strives to stimulate a slowing economy. The Bank of Korea cut rates to…
Israel has expelled the residents of three refugee camps in the occupied West Bank as it steps up a major month-long operation in the Palestinian territory. Israel’s Defence Minister Israel Katz said the camps in Jenin, Tulkarm and Nur Shams were now “empty” and would be occupied by the Israeli military for the coming year….
Reserve Bank of Australia (RBA) at the central bank’s building in Sydney, Australia on May 2, 2022. Brendon Thorne | Bloomberg | Getty Images The Reserve Bank of Australia on Tuesday cut benchmark interest rates for the first time in over four years, joining ranks with other major global central banks, as softening inflation allows…
Investment bank stocks are set to benefit from the Trump presidency, according to investor Kingsley Jones, who said it was time for financials to “step up.” Speaking to CNBC’s Martin Soong, the Australian investor struck a bullish tone on the outlook for stocks as U.S. President Donald Trump’s second term gets underway. “Wall Street, in…
