Stories for 2018

Wednesday, March 21st 2018 - 20:25 UTC
Powell's Fed confirms gradualism: anticipates 5 more modest rate increases in next 21 months

The Federal Reserve is raising its benchmark interest rate to reflect a solid U.S. economy and signaling that it's sticking with a gradual approach to rate hikes for 2018 under its new chairman, Jerome Powell. The Fed said it expects to increase rates twice more this year. At the same time, it increased its estimate for rate hikes in 2019 from two to three, reflecting an expectation of faster growth and lower unemployment.
Wednesday, March 21st 2018 - 10:07 UTC
Facebook shareholder suing the company, which has lost US$ 50bn in value

A Facebook shareholder is suing the social media giant for allegedly misleading investors in the Cambridge Analytica affair that's currently rocking the social network. Fan Yuan, who owns Facebook stock, filed a lawsuit Tuesday in the District Court of Northern California, located in San Francisco, on behalf of Facebook shareholders. Gizmodo first reported the lawsuit, which is seeking class action status. You can read the full complaint here.
Wednesday, March 21st 2018 - 10:03 UTC
Financial leaders reject protectionism, but prepare for a trade war

The world’s financial leaders rejected protectionism on Tuesday and urged “further dialogue” on trade, but failed to diffuse the threat of a trade war days before U.S. metals tariffs take effect and Washington is to announce measures against China. Finance ministers and central bankers of the world’s 20 biggest economies, which represent 75% of world trade and 85% of global gross domestic product, discussed trade disruptions as a risk to growth at a two-day meeting.
Wednesday, March 21st 2018 - 10:00 UTC
Google pledges to combat fake news monitor misinformation during elections”

Google has said it will invest US$300 million in helping news organizations to fight fake news and grow their businesses. The search engine giant will also invest in new technological tools to enhance online news consumption.
Wednesday, March 21st 2018 - 07:49 UTC
Falklands' air service upgrading avionics of its fleet of Islanders

Britten-Norman has reported that it completed the first in a series of avionics upgrades to a fleet of five BN2B-26 Islanders owned and operated by the Falkland Island Government Aviation Services (FIGAS). The avionics are being upgraded to the Garmin G600 glass cockpit standard including the GTN650/750 GPS/NAV/COMM, GTX335R remote transponder and electronic engine instruments.
Wednesday, March 21st 2018 - 07:37 UTC
UK inflation drops to 2.7% in February, weakest increase since July 2017

UK inflation was weaker than expected in February easing some of the squeeze on households' spending power but doing little to change bets on a Bank of England rate rise in May. Official data showed consumer prices rose by an annual 2.7% last month, the weakest increase since July of last year and down from a rise of 3.0% in January.
Wednesday, March 21st 2018 - 07:29 UTC
Ashes of Professor Hawking will rest next to the grave or Newton at Westminster Abbey

The ashes of Professor Stephen Hawking will be interred next to the grave of Sir Isaac Newton at Westminster Abbey, it has been revealed. The renowned theoretical physicist final resting place will also be near that of Charles Darwin, who was buried there in 1882. Prof Hawking, who had motor neuronal disease, died on 14 March, aged 76, at his home in Cambridge.
Wednesday, March 21st 2018 - 07:07 UTC
Mercosur “blocks” talks on auto exports and government procurement contracts, claims EU

European officials said this week that significant obstacles remain to a long-delayed trade deal between the European Union and Mercosur, even as South American officials expressed optimism a deal would be finalized soon.
Wednesday, March 21st 2018 - 06:49 UTC
Trump congratulates Putin and announces coming summit; Republicans furious

President Donald Trump congratulated Russian President Vladimir Putin on his re-election during a phone call on Tuesday and the two leaders agreed to hold talks soon. “We will probably get together in the not-too-distant future, so we can discuss arms, we can discuss arms race.” Trump told reporters before an oval office meeting with Crown Prince Mohammad bin Salman of the Kingdom of Saudi Arabia.
Wednesday, March 21st 2018 - 06:41 UTC
Lagarde insists at financial G20: “we should fix the roof while the sun shines”

IMF Managing Director Christine Lagarde at the conclusion of the Group of 20 (G20) Finance Ministers and Central Bank Governors meeting in Buenos Aires, reiterated praise for Argentina president Mauricio Macri gradual economic policies, and called on the need for reform in the more advanced economies to ensure sustained, solid growth.