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Financial Markets

US Fed cuts interest rates but cautions for year ahead

Slower progress on inflation translates into a slower pace of rate cuts, especially as economic growth is brisk.The United States Federal Reserve has cut...

Bitcoin surges past $107,000 on hopes for US strategic reserve

Bitcoin’s record rally topped $107,000 after United States President-elect Donald Trump reiterated that he plans to create a US Bitcoin strategic reserve similar to...

Canada sues Google alleging anti-competitive conduct in advertising

The antitrust watchdog wants Google to sell two ad tech tools and is seeking a penalty as well.Canada’s Competition Bureau is suing Alphabet’s Google...

McDonald’s shares tumble on E coli even as US head vows to improve safety

McDonald’s shares were on track for their worst day since March 2020 on Wednesday, as the fast-food giant scrambled to limit the damage from...

Tesla’s robotaxi event was long on Musk promises, short on details

For a businessman who perpetually struggles with broken promises, Elon Musk has given himself quite a to-do list at Tesla’s long-awaited Hollywood unveiling of...

US judge orders Google to open up app store to competition

A US judge said that for three years, Google must allow users to download competing third-party Android app platforms or stores.A United States judge...

US Fed cuts rates by larger than usual half-percentage point

Policymakers see the Fed’s benchmark rate falling by another half of a percentage point by the end of this yearThe United States Federal Reserve...

Ratings agencies warn of downgrade if Boeing strike prolonged

Boeing’s management will likely need to access new sources of liquidity in the event of a prolonged strike.Fitch Ratings and Moody’s have joined S&P...

Boeing workers ‘ready to go on strike’ if demands unmet

Boeing’s United States West Coast factory workers stood in long lines to vote on Thursday on a much-criticised new contract, some loudly calling for...

Apple launches AI iPhone as Huawei casts shadow with tri-fold phone

Apple has unveiled its artificial intelligence-boosted iPhone 16, showing off the long-awaited phone hours after Chinese rival Huawei’s tri-fold phone began racking up orders. “The...

Cathay Pacific halts flights on Airbus jets over engine component failure

Shares in engine maker Rolls-Royce fall nearly 9 percent after airline identifies the problem.Hong Kong’s Cathay Pacific Airways has started a fleet-wide inspection of...

Canada follows US, imposes 100% tariff on EVs imported from China

Ottawa to work with allies to ensure customers around the world are not unfairly penalised by nonmarket practices of countries such as China, PM...

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