Softening US economic data spurred the Federal Reserve into decisive action this week to support growth. An even weaker set of data out of China has left investors puzzled why its government hasn’t also mounted a concerted response. In fact, Chinese fiscal policy has shown evidence of tightening, not loosening. Monetary policy similarly shows no…
The Microsoft co-founder has long been one of the world’s wealthiest people. Yi-Chin Lee/Houston Chronicle via Getty Imag Bernie Sanders, the famously anti-billionaire senator of Vermont, and Bill Gates, the world’s seventh wealthiest person with an estimated net worth of $138.5 billion, make an unlikely pairing—especially when it comes to debating income inequality. Despite their differences,…
The Federal Reserve’s decision to cut interest rates this week was a surprise to … well, nobody. The US central bank, like many of its peers, had telegraphed the decision for weeks as it made inroads containing inflation and now seeks to prevent a wider slowdown in the economy. Even for an institution marked by…
Colorado school districts will soon be able to apply for grants of up to $50,000 to help their students reduce cell phone use during the school day. State Attorney General Phil Weiser announced the “Smartphone Challenge Initiative” Friday in the library of Grand Junction High School. The program is funded with money from the state’s…
Amazon founder and former CEO Jeff Bezos, 60, has long made the news about his unusual requirements from employees, and this time, another source revealed that the multi-billionaire always ensured that a chair was kept empty during all meetings. The reason? To represent end-customers at the table, as per a report by Unilad Tech. The…
The chip giant Intel could be at a crossroads as it figures out its next steps amid its declining valuation and struggling business. Chip and wireless communications competitor Qualcomm approached Intel about a takeover deal, the Wall Street Journal reported Friday. And on Monday, Intel CEO Pat Gelsinger sent out an email announcing “the next…
China’s air quality is improving as industrial activity declines and its power and transportation sectors speed up decarbonization efforts. Concentrations of small airborne particulates fell 2.9% over the first half of 2024 from the same period the year before, the Finland-based Centre for Research on Energy and Clean Air said in a report. The air…
WASHINGTON (AP) — President Joe Biden said Thursday the Federal Reserve’s decision to lower interest rates was “an important signal” that inflation has eased as he poked at Donald Trump’s economic policies as a failure in the past and sure to “fail again” if revived. “Lowering interest rates isn’t a declaration of victory,” Biden told…
There are a lot of odd things that Jeff Bezos does, but he’s the second richest man in the world for a reason. Amazon’s executive chair always made sure to have an empty seat in his meetings, and while it might sound bizarre to you and me, there was clearly method to his madness. Since…
Good afternoon. Here’s what you need to know to end your day. Stocks in Asia rallied after the Fed opted for an outsized rate cut to ensure a soft landing, while a gauge of regional currencies rose to a 14-month high. The Nikkei 225 climbed more than 2% as the yen slid. Source link