Currencies

Hungary's Orban pledges housing subsidies for public servants in pre-election push

BUDAPEST -Hungary plans to give public servants, including police and teachers, an annual 1 million forint housing subsidy, Prime Minister Viktor Orban announced as he gears up for a closely-fought...

Trump tariffs rattle India's markets, cloud growth outlook

MUMBAI -India's rupee plunged toward a record low and equity indexes declined on Thursday after U.S. President Donald Trump slapped steeper-than-expected tariffs on Indian goods, with analysts...

Fed's reticence on rate cuts forces market to rethink outlook

NEW YORK -The Federal Reserve's decision to avoid signaling imminent rate cuts despite relentless political pressure underscores its prevailing caution and has forced investors to dial back...

National Restaurant Association lobbies against US tariffs

The National Restaurant Association said it was extremely concerned about the possibility of new tariffs in a letter sent to U.S. Trade Representative Jamieson Greer on Tuesday. Trump...

BOJ turns less gloomy on economy, keeps rate-hike chance alive

TOKYO -The Bank of Japan revised up its inflation forecasts on Thursday and offered a less gloomy outlook on the economy than three months ago, keeping alive the possibility of a resumption in...

UK's Starmer, Oman's sultan agree to deepen ties in energy, defence and tech

LONDON -British Prime Minister Keir Starmer and Oman's Sultan Haitham bin Tariq al-Said agreed on Wednesday to deepen collaboration across energy, technology, defence and security, a Downing Street...

US yields climb as Fed's Powell uncertain about September easing

NEW YORK -U.S. Treasury yields rose on Wednesday after Federal Reserve Chair Jerome Powell said it's too soon to say whether the central bank will cut its interest rate target in September. ...

Trump hits Brazil with tariffs, sanctions but key sectors excluded

SAO PAULO/BRASILIA -U.S. President Donald Trump on Wednesday slapped a 50% tariff on most Brazilian goods to fight what he has called a witch hunt against former President Jair Bolsonaro, but...

Fed policy decision generates most governor dissents since 1993

The Federal Reserve's decision to hold interest rates steady following the end of a two-day policy meeting on Wednesday generated the largest number of dissenting votes by governors at the U.S....

Fed leaves rates steady despite Trump pressure, gives no hint of September cut

WASHINGTON -The U.S. central bank held interest rates steady on Wednesday and Federal Reserve Chair Jerome Powell's comments after the decision undercut confidence that borrowing costs would begin...

Top Bank of Canada officials speak after central bank holds policy rate steady

TORONTO -Below are some key quotes from a news conference by Bank of Canada Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers on Wednesday after the central bank held its key policy...

Bank of Canada says risk of severe global trade conflict has diminished

The risk of a severe and escalating global trade conflict has diminished since April and there is some clarity about what U.S. tariffs will look like, the Bank of Canada said on Wednesday. ...

Bank of Canada holds rates steady and says global trade war risk has eased

OTTAWA -The Bank of Canada held its key policy rate at 2.75% for the third time in a row on Wednesday, as expected, and said the risk of a severe and escalating global trade war had diminished. ...

Ukraine's PrivatBank wins UK lawsuit against former owners over alleged fraud

LONDON -Ukraine's PrivatBank on Wednesday won its London lawsuit against its former owners for siphoning off nearly $2 billion from the country's largest lender. PrivatBank accused Ihor...

Sterling edges up ahead of Fed, investors uncertain about BoE policy path

Sterling was marginally higher on Wednesday as investors awaited the outcome of the Federal Reserve's policy meeting, after digesting news this week of a trade deal between the United States and the...

Euro bulls wince as US-EU trade deal slams the brakes on rally

LONDON -Euro bulls are facing the first big test of their conviction in the form of the European Union's U.S. trade deal, which has cast doubt on the durability of one of 2025's most popular trades. ...

BASF Warns of Economic Slowdown as Chemical Demand Falters

The chemical giant BASF is bracing for tougher business conditions amid a global economic downturn. Growth in all major economic regions is expected to slow in the second half of the year, the...

Rebound in US economic growth in second quarter masks underlying slowing trend

WASHINGTON -U.S. economic growth rebounded more than expected in the second quarter, but that measurement grossly overstated the economy's health as declining imports accounted for the bulk of the...

Brazil beef-packers estimate $1 billion in losses if US tariffs apply

SAO PAULO -Brazilian beef-packers' lobby Abiec, which represents companies including JBS and Marfrig, on Tuesday estimated losses of $1 billion if the United States applies a 50% tariff on Brazilian...