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Federal Reserve officials meet on Tuesday and Wednesday in a pivotal meeting under unprecedented circumstances. It is expected that monetary policymakers, at the conclusion of their two-day meeting on Wednesday, will announce the first interest rate cut since December, in an attempt to support the slowing U.S. labor market, with hopes that the broad tariffs imposed by President Donald Trump will have only a limited impact on inflation. But there is an “elephant in the room” occupying discussions about the U.S. economy: Trump’s intense effort to reshape the top of the Federal Reserve. The Senate on Monday…
China is poised to launch a new air route between Shanghai and Argentina that will traverse 20,000km (12,000 miles) and span 25 hours, as the country’s trade and political ties with far-flung Latin America call for faster, more direct flights that skip stopovers in the United States or Europe.China Eastern Airlines has announced that an inaugural flight from Shanghai to Buenos Aires will take off on December 4, to cut travel time between China’s largest city and the Argentine capital by as much as five hours.With only one transit stop in Auckland, New Zealand, the state-owned carrier said the new…
Panamanian authorities on Tuesday announced an US$8.5 billion plan to modernise and expand the Panama Canal over the next decade, while sidestepping questions on whether Hong Kong-based CK Hutchison or others seen as having links to China could join future projects amid US concerns about Beijing’s influence over the waterway.Hutchison Ports, a unit of CK Hutchison, has managed terminals in Balboa and Colon – on opposite ends of the trade channel – since the 1990s. Its role has drawn sharp criticism in Washington, where lawmakers and members of US President Donald Trump’s administration see the company as a proxy for…
China and the United States are in the “final stage” of negotiations for a state visit to Beijing by US President Donald Trump, with bulk purchases of American goods a critical part of the deliverables, the South China Morning Post has learned.The development comes on the heels of the fourth round of trade talks between the two sides in Spain and ahead of a phone call between Trump and Chinese President Xi Jinping on Friday.Trump described the talks in Madrid as a success, with both sides reaching a framework deal on the popular Chinese social media app TikTok. They also…
With a few clicks on his keyboard and one social-media post to the world, President Donald Trump revived a long-running debate on the merits of quarterly earnings reports. The resolution could have significant ramifications for investors. The Securities and Exchange Commission is listening to the president. After Trump’s missive on Truth Social on Monday morning — arguing the SEC should do away with its quarterly earnings requirement in favor of semiannual reports — the U.S. securities regulator said in a statement it is “prioritizing this proposal to further eliminate unnecessary regulatory burdens on companies.” Trump’s idea is not a new…
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Market moves : Stocks were relatively muted following record closes for the S & P 500 and Nasdaq on Monday. Investors are mostly sitting on their hands ahead of Wednesday’s Federal Reserve interest rate decision. The central bank’s policymaking committee is expected to cut interest rates by 25 basis points. That’s priced into the market, although there is still a low single-digit probability of a 50 basis point rate cut, according…
US President Donald Trump on Tuesday extended the deadline for TikTok’s US shutdown for the fourth time in his second term ahead of a call with Chinese President Xi Jinping about the fate of the Chinese-owned short video app.In an executive order issued on Tuesday, Trump set the new deadline for December 16.The decision comes a day after the US and China concluded talks in Madrid, where the two sides reached a “framework” for resolving issues related to the app, according to senior Chinese trade negotiator Li Chenggang.Trump, posting on Truth Social on Monday, said that a “deal” had been…
Copper prices fell on Tuesday despite a decline in the dollar against most major currencies, due to expectations of production growth in Chile. Chile, which represents about a quarter of global copper production, expected its output to expand during this year despite the challenges facing two of its largest mines, providing some relief to a global market suffering from tight supply. A fatal accident at the largest mine of state-owned Codelco, in addition to problems in mine waste at a project run by Teck Resources Ltd., complicated Chile’s efforts to reach its annual target estimated at about 5.6…
KARACHI: K-Electric (KE) has proposed the launch of a perpetual Sukuk or a bond for 100 years at the Pakistan Stock Exchange (PSX) to mobilise new financing, as size of the listed Sukuk grew to Rs3 trillion at the bourse. “I want KE to do a perpetual Sukuk (Shariah-compliant bond),” KE CEO Moonis Alvi said while speaking at the formal listing of KE Retail Sukuk at Rs100/unit at the PSX on Tuesday. Alvi asked his team to initiate work for the perpetual Sukuk or a bond of 100 years tenure. A perpetual bond (sukuk) is a fixed income security with…
Gold prices rose in the European market on Tuesday, extending gains for the third consecutive session and setting a fresh all-time high, on the verge of surpassing the $3,700 per ounce barrier for the first time in history, supported by the continued decline of the U.S. dollar in the foreign exchange market. Later today, the Federal Reserve’s highly anticipated monetary policy meeting will commence, with decisions due on Wednesday. Market expectations currently remain anchored on a 25 basis-point interest rate cut. Price Overview Gold prices today: The price of the precious metal rose by 0.5% to a…