US fiscal policy is undermining the Fed’s efforts to fight inflation

Inflation remains the top issue on investors’ minds, with many trying to determine when the relentless rise in prices will stop and whether the Federal Reserve’s aggressive interest rate hikes to try to halt the spiral will engineer a so-called soft-landing for the economy. — or, instead, send us into a deep recession. Indeed, your … Read more

From the Fed to Europe’s currency crisis, here’s what’s behind this selloff in financial markets

Trader on the floor of the NYSE, June 7, 2022. Source: NYSE Stocks fell sharply, bond yields rose and the dollar strengthened Friday as investors heeded the Federal Reserve’s signal that its battle with inflation could result in much higher interest rates and a recession. The sell-off Friday was global, in a week where the … Read more

Google CEO Pichai fields questions on cost cuts at all-hands meeting

Alphabet CEO Sundar Pichai gestures during a session at the World Economic Forum (WEF) annual meeting in Davos, on January 22, 2020. Fabrice COFFRINI | AFP | Getty Images As Google tries to navigate an unfamiliar environment of slowing growth, cost cutting and employee dissent over cultural changes, CEO Sundar Pichai is finding himself on … Read more

UK government dishes out tax cuts as country braces for recession

UK Chancellor Kwasi Kwarteng outside 10 Downing Street. Britain will cap the cost of electricity and gas for businesses. Rob Pinney | Getty Images News | Getty Images LONDON — The new UK government announced a sweeping program of tax cuts and investment incentives Friday, as Prime Minister Liz Truss seeks to boost the country’s … Read more

Putin’s nuclear threats raise the risk of disaster

Speaking in a rare, televised address on Wednesday, Putin warned that if the territorial integrity of Russia is threatened, the Kremlin would “certainly use all the means at our disposal to protect Russia and our people. It is not a bluff.” Gavriil Grigorov Afp | Getty Images Russian President Vladimir Putin’s ultimatum to the West … Read more

Liz Truss pursues ‘trickle-down economics’ despite scorn from Biden

British Prime Minister Liz Truss and US President Joe Biden formally met for the first time at the United Nations General Assembly in New York City, following clashes in economic policy between the two leaders. Wpa Pool | Getty Images LONDON — The British government is set to announce sweeping tax cuts for businesses and … Read more

The UK has lifted its fracking ban, digging up a long-running debate

The derrick is seen behind anti-fracking banners at Cuadrilla’s Lancashire fracking site. Christopher Furlong | Getty Images LONDON — The UK government lifted its ban on fracking Thursday, citing the need to increase domestic energy supply following the Russian invasion of Ukraine. In her first major address on Sept. 8, new Prime Minister Liz Truss … Read more

European markets open to close, BOE and SNB rate decisions

Europe stocks close lower after central bank hikes European stocks ended the day lower after central banks in Switzerland and the UK announced interest rate hikes. The Stoxx 600 closed down 1.8% with all sectors in the red except banks and basic resources, which were flat. The British pound fell to a fresh 37-low against … Read more

‘Avatar’ returns to theaters as Disney hypes James Cameron’s long-delayed sequel

Avatar Source: Walt Disney Studios The Na’vi return to the big screen this weekend as Disney looks to reignite interest in its newly acquired Avatar franchise, three months before the debut of the long-delayed sequel, “Avatar: The Way of Water.” Bringing the highest-grossing film of all time back to theaters has two purposes for Disney: … Read more

Bed Bath & Beyond merchandise problems could cripple turnaround plan

A person exits a Bed Bath & Beyond store in New York City, June 29, 2022. Andrew Kelly | Reuters Bed Bath & Beyond is betting on a drastic change in strategy and well-recognized brands to revive its struggling business. But the retailer’s strained relationships with suppliers of products such as air fryers and stand-mixers … Read more