-
Global stock markets diverge after global rally
Global stock markets diverged and the dollar was mixed against main rivals Friday following an equities rally triggered by a jumbo US interest rate cut this week. In early afternoon deals, European stocks pared back hefty gains from the previous session, won after the Federal Reserve opted for a bumper 50-basis-point rate reduction and pledged further cuts as inflation cools. There had been fears the move could signal officials were worried about the economy and were behind the curve in easing p
Sept. 20, 2024 -
Boeing, union to resume talks as strike quiets Seattle plants
Negotiators from Boeing and the machinists union are scheduled to resume talks Tuesday after some 33,000 workers went on strike late last week. Members of the International Association of Machinists and Aerospace Workers District 751 have been picketing 24 hours a day following the walkout early Friday morning, shuttering Seattle-area factories that assemble the 737 MAX and 777. "Now is the moment to rise -- show Boeing that our voices aren't just loud; they are unstoppable," the
Sept. 17, 2024 -
Powell at Jackson Hole: 'The time has come' for the Fed to soon begin reducing interest rates
JACKSON, Wyoming (AP) — With inflation nearly defeated and the job market cooling, the Federal Reserve is prepared to start cutting its key interest rate from its current 23-year high, Chair Jerome Powell said Friday. Powell did not say when rate cuts would begin or how large they might be, but the Fed is widely expected to announce a modest quarter-point cut in its benchmark rate when it meets in mid-September. “The time has come for policy to adjust," Powell said in his keynot
Aug. 24, 2024