The United States Congress has until Friday at midnight to pass a bill raising the country’s borrowing limit, also known as the debt ceiling, without which large sections of the government could stop operating. A bill that would have extended the deadline until March 14, prepared by both Democrats and Republicans, was scuttled after President-elect … Read more
The Bank of England pictured in December 2024. Sopa Images | Lightrocket | Getty Images LONDON — The Bank of England on Thursday ended its last meeting of the year with a decision to leave interest rates unchanged, after U.K. inflation rose to an eight-month high. Analysts had widely expected a rate hold at the … Read more
Taipei, Taiwan – With just weeks left in office, outgoing United States President Joe Biden and his team are scrambling to lock in billions of dollars in funding to re-shore chip manufacturing to the US. Signed into law by Biden in 2022, the CHIPS and Science Act set aside $280bn in funding to boost domestic … Read more
Federal Reserve Chair Jerome Powell speaks during a news conference following the Nov. 6-7, 2024, Federal Open Market Committee meeting at William McChesney Martin Jr. Federal Reserve Board Building in Washington, D.C. Andrew Caballero-Reynolds | AFP | Getty Images Inflation is stubbornly above target, the economy is growing at about a 3% pace and the … Read more
Hong Kong-Taipei is the busiest international flight route, according to a report released Tuesday by aviation intelligence company OAG. The route — which last held that position in 2019 — again tops the list despite seat capacity remaining 15% below pre-pandemic levels, according to OAG’s report. Seven of the 10 busiest international routes in the … Read more
A briefcase filled with Iranian rial banknotes sits on display at a currency exchange market on Ferdowsi street in Tehran, Iran, on Saturday, Jan. 6, 2018. Ali Mohammadi | Bloomberg | Getty Images Iran is confronting its worst set of crises in years, facing a spiraling economy along with a series of unprecedented geopolitical and … Read more
Fast-food companies like Yum! Brands’ KFC and McDonald’s are getting back into chicken tenders as a way to attract consumers with a low-risk, high-reward bet on a familiar favorite. Nearly half of all fast-food restaurants served the chicken item as of the third quarter, up 5.7% from the same period in 2019, according to … Read more
Prosecutors say McKinsey provided Purdue advice on measures it could take to ‘turbocharge’ OxyContin sales. Consulting firm McKinsey & Company has agreed to pay $650m to resolve a United States Department of Justice investigation into the consulting firm’s work advising opioid manufacturer Purdue Pharma on how to boost OxyContin sales. McKinsey has entered into a … Read more
President-elect Donald Trump rang the opening bell at the New York Stock Exchange on Thursday after vowing an economic boom to a cheering crowd of traders and business leaders. “We’re with you all the way,” the incoming Republican president said in the NYSE building in lower Manhattan, where he was invited after becoming TIME’s “Person … Read more
A federal office in the United States charged with shaping foreign trade policies has announced it would launch an investigation into Nicaragua’s government for “persistent attacks on labor rights, human rights and the rule of law”. On Tuesday, the Office of the United States Trade Representative explained it had received “numerous credible reports” that Nicaragua’s … Read more